Car Insurance ● Mar 2, 2022
When it comes to motorcycles, you can never really go wrong with extra protection. If you don't already have a package policy on your motorcycle, it especially makes sense to consider one as we approach winter time.
For seasonal vehicles like motorcycles, it is far less expensive to have a policy that provides storage insurance than it does to plate it all year. Damage can very easily occur when being stored or transported. Many motorcyclist have had the experience of dropping a bike when they least expected it and it is easy for a motorcycle to incur thousands of dollars of damage just by tipping over. Repairing or replacing painted parts like fairing on sport bikes or hard saddle bags on cruisers is expensive. Scratches and bends on exhaust systems means replacing expensive components that add up fast as well.
If you don't have a package policy and you end up damaging your bike outside of an accident, it may be tempting to avoid making a claim to get the bike repaired if you have to pay a $700 deductible and there doesn't appear to be a lot of damage. In cases where there doesn't appear to be much damage, the cost of the damage may be more than you think and well worth the price of the deductible to have it repaired. Even if can live with the damage in order to avoid the cost of the deductible, the value of the motorcycle is inevitably lower with damage present. By not having it repaired, you have really only deferred the loss to when you sell the bike. Scrapes and damage are a sure way for a buyer to ask for a discount on your selling price. When you factor in the loss of value, you may not really be saving any money alt all by not repairing it.
Part of the joy of owning a motorcycle is the pride of ownership, so keeping it in premium condition is part of the reward. One of the ways to make the decision to repair a damaged bike easier is to put a package policy on it. A $100 deductible is much easier to swallow and is small price to pay to keep your pride and joy in tip top shape.