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How To Cancel A Motorcycle Insurance Policy

In most states, if you own a motorcycle and plan on riding it on public roads, you are required to have motorcycle insurance. While your motorcycle insurance policy is very important, there may come a time when you will need to cancel your motorcycle insurance coverage.

Learn more about why you may have to cancel your motorcycle insurance and how you can go about doing so.

Why Cancel Your Motorcycle Insurance Policy

There are several possible reasons why you might need to cancel your motorcycle insurance policy. Some of the most common reasons include:

  • Selling or giving away your bike. If you don't have a motorcycle, there is no need for you to have motorcycle insurance.
  • Switching motorcycle insurance companies. If it has been years since you last received motorcycle insurance quotes, now is a good time to shop around. You may be surprised to find companies offering you much lower rates.
  • Seasonality. If you plan on storing your bike during the cold winter, you may be able to cancel or pause your coverage while your motorcycle is in storage.
  • License suspension. If you can't drive, you are probably better off not paying for insurance.
    • Depending on your violation, your insurance company can cancel your policy before you do.

NOTE: In most states, riding your motorcycle uninsured is a violation of law. If you are planning on canceling your motorcycle insurance, make sure you have coverage through another policy, or stay off your motorcycle.

Steps for Canceling a Motorcycle Insurance Policy

When canceling your motorcycle insurance policy, make sure you take action with the insurance provider. Not paying your bill without contacting your motorcycle insurance is not a valid method of canceling your motorcycle insurance.

The insurer may continue to send bills, contact you by phone, or send a stream of cancellation notices. It may even report your non-payment to a credit bureau, which will hurt your credit rating. Additionally, if the insurance company cancels the policy themselves for non-payment, you could be labeled as a "high-risk" driver, making it more difficult to obtain affordable coverage from other companies.

Instead, contact your insurance provider and inform them that you are ending your policy coverage on a specific date.

Some insurers may require you to cancel your motorcycle insurance policy in writing, while others may accept a phone call to a customer representative or agent.

Several states require vehicle insurance companies to inform the motor vehicle or transportation department when a policy is cancelled. If you do not have coverage from another motorcycle insurance company, you face penalties such as registration and license suspension.

When to Cancel Your Motorbike Insurance Coverage

It's easiest to wait until near the end of your policy term to end your coverage, but you can cancel a policy at any point. Be sure to request a refund of any unused premiums if you cancel your coverage early in the premium period.

If you plan to continue your motorcycle insurance with another carrier, coordinate the coverages so that you do not have a lapse of coverage.

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