How to lower motorcycle and boat premiums in the winter

  • Coverage clarity
  • Planning ahead

Motorcycle and boat owners are, largely, comfortable with risks. That can be a great personal attribute for many things – insurance is not one of them. It’s tempting to cancel motorcycle and boat insurance in the winter when they’ll be in storage and going unused. It seems like an easy way to save some money but being uninsured can lead to some significant losses.

Many boat claims are for fire, theft, flooding and vandalism. These are all risks when boats are in storage, maybe even more so than when they’re on the water for the summer. And what about motorcycles? There are always a few unseasonably warm days every season when motorcycle riders will want to take a ride. There are also some who don’t properly winterize their motorcycle or boat. Motorcycle insurance and boat insurance can cover some of that damage, but only if an insurance policy was in place when it occurred.

There are ways to lower the cost of insuring your motorcycle or boat in the off-season though! We list a few possibilities below.

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Maintaining motorcycle & boat coverage during offseason

  • Purchase a lay-up policy – these policies include comprehensive coverage, which covers theft, fire and other non-collision damage. They exclude diving coverages like liability, towing and others. Most insurance carriers factor in less usage in the winter when pricing their policies so these are not very common.
  • Raise your deductible during the winter – this will lower your premium, but you do need to be sure you have enough cash to cover that deductible in case you do need to file a claim.
  • Buy moderately-priced toys – these boats and motorcycles will cost less to insure than a top-of-the-line vehicle while still being fun to use.
  • Take a safety course – some insurance companies offer discounted rates to people who take safety courses.
  • Add Freeze Coverage – while this won’t save you money on your premium, it might save you money on damages. If your winter storage is heated, Freeze Coverage will protect against freeze-related engine damage in the case of a power outage.
  • Keep your policy year-round – this may make you eligible for additional savings on your premium, and it saves you from cancelation fees.

No matter how diligently you winterize your motorcycle or boat, there is always a chance that you overlooked a step or made a mistake. Keeping your insurance through the winter will help to mitigate the possible financial damages resulting from these missteps. Not only that, but if you allow your coverage to lapse in the off-season, it will be more expensive and difficult to get a new policy in the summer months.

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