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IMPORTANT NOTICE REGARDING MOTORCYCLE INSURANCE

I am putting this information out there simply to make you aware of a policy held by one of the insurance companies that covers motorcyclists. Rider Plus, who is a broker for Echelon, has a “cancellation table” that reflects “the seasonal nature of motorcycle riding in Ontario”. This applies when you want to cancel your insurance for any reason. They require us to pay for 6 months up front for one year of coverage. I guess this covers them in the case of a rider cancelling their policy and claiming a refund during the months where the weather is less desirable to ride in… or something like that and I don’t know where to find this “cancellation table” that they speak of anyway.

This is how their nonsensical policy affected me:

My policy renews in January of 2015. At the end of October I called Riders Plus to cancel the coverage of my two motorcycles as I had sold the one, was soon to sell the other, and no longer needed the coverage for them. That leaves two months of insurance that I had already paid for, unused, and therefore I would like to transfer that coverage to the new motorcycle I will be receiving in March of 2015. This seems to me to be a fair request, but no way! According to Riders Plus because of this “season” that they have arbitrarily come up with, I will only have a credit of $7 due to it being “short-rated”. I was not asking for a cash rebate but simply to apply the two months of insurance that I had already paid for, to the next motorcycle. I explained I was planning on still being a customer but this meant nothing to them and therefore I will no longer be a customer of Riders Plus.
I’m not saying Riders Plus is a bad insurance company as I have not ever made a claim with them and my only interaction was to send them tons of money for which I would have thought there would at least be some customer service. I would have thought that an insurance company that advertises itself as a ‘motorcycle friendly’ company would be more flexible with situations like mine, but they are not.

So a word to the wise; If you are CERTAIN that you will be riding the same motorcycle ALL year AND into the next go ahead and pay Riders Plus up front in the first 6 months for one year’s insurance; BUT if you think you might be changing your motorcycles sometime through “the season” with any gap at all, I would suggest you find a company that offers a month to month payment plan. And seeing as none of us own a crystal ball, the later of the choices would be the wisest.

I hope this information can save some of my fellow riders from losing money to this corporate S.O.Bs the way I did.

Cheers,
Cameron
 

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I don't think I agree with you on all you say. My understanding is that you basically want to carry over insurance from an expired policy. I don't think there is an insurance company in the country that does that.

When you cancel you get a pro-rated amount returned if there is still time on the policy. When you purchase a replacement vehicle it's a whole new policy again unless you do an immediate transfer to another vehicle. It would be an accounting nightmare if insurance companies were carrying over balances of expired insurance rather than paying it out. They have no way of knowing if you are going to buy a replacement vehicle and how long do they hold the balance for? I'm sure it's all spelled out in your policy if you took the time to read it. As I said earlier there isn't an insurance company in the country that works how you would like it to. If you are getting a good rate don't burn your bridges.

My insurance company has me paying for the entire year up front with no opportunity to cancel, for a refund, during the non-riding months.
 

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My mistake was paying up front for the year. In my case this was a bad choice and I will be going back to my old insurance company and paying monthly so if this situation arises again I won't be out so much money if any. That's all I'm saying. I don't see the advantage of giving any company money in advance for anything. The choice is yours.
 

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I have usaa and I have recently found out they no longer carry bike insurance once I sold my Harley and wanted to switch coverage to my triumph .. they use underwriters like progressive now ..wich I found to be the worst ive ever delt with .
 

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Many insurance companies pro-rate the monthly rate over the length of the riding season - so you're paying more per-month during the time you can ride, and less in the off-season. So you don't get much back if you cancel during the off-season. You can expect the same thing from just about anyone.
 
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