Motorcycle Storage Insurance: What You Need to Know

If you're a motorcycle enthusiast, you know how much you love hitting the open road, but you also know how much you hate worrying about your bike's safety.

Storage facilities often require you to purchase insurance to cover your motorcycle against theft, damage, or loss.

Most storage facilities will require you to purchase insurance that covers your motorcycle for at least the facility's minimum coverage amount, which can range from $5,000 to $20,000.

You can opt for a higher coverage amount, but be aware that it will increase your premium costs.

Leaving your motorbike exposed on a public road overnight increases the risk of it being damaged or stolen, which can lead to a higher insurance premium.

Motorcycle thefts are disproportionately high, with a motorcycle being 11 times more likely to be stolen than a car in 2021, according to the Motorcycle Action Group.

Insurers are concerned about where you store your bike because more thefts mean more payouts.

If your insurer doesn't offer motorcycle storage insurance, you can purchase a policy from another provider, making it easy to find a policy that fits your needs.

Your motorbike is at risk for damage even when parked in storage for a few months a year, so it's not a good idea to cancel your insurance policy in the winter or when your bike's in the shed.

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If you've got access to a lockable garage, that's likely to be one of the best options for storing your motorcycle.

A secure shed or outbuilding is also a good alternative, especially if you've built it yourself and checked with your insurer that they'll provide coverage.

Leaving your motorcycle exposed and parked on a public road overnight increases the risk of it being damaged or stolen, which can lead to an increase in insurance premiums.

Do You Need Motorcycle Storage Insurance?

Motorcycle storage insurance is not mandatory, but it's a good idea to have this type of coverage.

If you're not going to be riding your motorcycle during the off-season, motorcycle storage insurance can provide protection against theft, damage, or vandalism.

This type of coverage can also protect any other gear or accessories that are stored alongside your motorcycle, such as motorcycle helmets and protective clothing.

With motorcycle storage insurance, you'll have peace of mind knowing that your motorcycle and its accessories are protected while in storage.

If you've got access to a lockable garage, this is likely to be one of the best options you have, especially if that garage is on your property.

A secure shed or outbuilding can also be a good alternative. Research from the Motorcycle Action Group (MAG) reveals that in 2021, a motorcycle was 11 times more likely to be stolen than a car, which is a staggering discrepancy.

Leaving your motorcycle exposed and parked on a public road overnight increases the risk of it being damaged or stolen and can lead to an increase in premiums.

Insurers are likely to discount your premium if your motorbike is stored securely, which is a great incentive to choose a safe storage option.

It's crucial to make sure your motorbike insurance policy reflects the way you store your motorbike to avoid any issues with your insurer.

A secure structure with a lockable entry point, a solid floor, walls, and a roof is what insurers consider a garage.

Insurers may also count a purpose-built shed or outbuilding as a garage if it meets certain conditions, such as having a solid floor and walls secured to the base.

The type of structure you store your motorbike in can affect your insurance premium. If you tell your insurer you store your motorbike in a garage, you'll likely enjoy a discounted premium.

However, you'll also be expected to follow your insurer's specific garaging clauses or garage endorsements, which are rules about claims related to storage.

If you forget to put your motorbike away at night and it's stolen, your insurer might not uphold your claim for theft if you told them you kept it in a garage.

If you live in an area with harsh winters, you may want to consider a laid-up motorcycle insurance policy to save money during the off-season. This type of policy allows you to pause liability and collision coverage while maintaining theft, fire, and other coverage options to protect your motorcycle while in storage.

Some insurance companies offer adjustable laid-up policies that cater to your unique situation, so be sure to ask about liability and collision coverage options within the policy. This is especially useful if you live in a region with mild winters and still ride occasionally.

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You can also consider a motorcycle garage insurance policy, which provides coverage for theft, damage, or vandalism while your bike is in storage. This type of policy can give you peace of mind knowing that your bike is protected.

Here are some key benefits of laid-up motorcycle insurance policies:

Alternatively, you can opt for an insurance policy with a built-in reduced premium for your motorcycle, which includes a layoff period for the time your motorcycle is left in storage as part of the premium.

You might be wondering if you really need motorcycle storage insurance. The good news is that it's not mandatory, but it's a good idea to have this type of coverage, especially if you're not going to be riding your motorcycle during the off-season.

Motorcycle storage insurance can provide protection against theft, damage, or vandalism, which is a big concern when your bike is in storage. Theft and vandalism coverage can help you recover financially if your motorcycle is stolen or vandalized while in storage.

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If you're planning to store your motorcycle with other gear or accessories, such as helmets and protective clothing, motorcycle storage insurance can also protect these items. This can give you peace of mind knowing that your bike and its accessories are covered.

Having motorcycle storage insurance can provide you with financial protection and peace of mind, especially during the off-season. It's a worthwhile consideration if you're thinking about putting your motorcycle in storage.

A laid-up policy is a great option for motorcyclists who want to save money during the winter months. Some insurance carriers will not allow you to remove all collision and liability, but you can reduce coverage to your state's minimums.

You can also raise deductibles to reduce your premium. This way, you'll save money on your insurance while your motorcycle is in storage.

If you live in a region with harsh winters, a laid-up policy can be a perfect solution. You can pause liability and collision coverage, but still maintain theft, fire, and other coverage options to protect your motorcycle while in storage.

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Some insurance companies provide adjustable laid-up policies that cater to your unique situation. For example, if you live in a region with mild winters and still ride occasionally, you might be able to get liability and collision coverage options within the laid-up insurance policy.

Here are some benefits of a laid-up policy:

This type of policy can help you reduce insurance costs without compromising protection while your motorcycle is in storage.