Why You Should Insure a Seasonal Vehicle Year-Round
If you own a vintage automobile or a motorcycle you only drive in the warm-weather months, you should consider insuring it throughout the year, whether you’re using it or not.
Cancelling the insurance coverage on your old car or your Harley when you’re putting either into storage exposes you to significant financial risk. Without year-round comprehensive coverage, you have no protection and will be responsible for paying for repairs or for replacing the vehicle on your own.
While you might think cancelling the insurance coverage on your vintage vehicle or the motorcycle insurance on your bike in the off season will save you money, you could be exposing yourself to certain financial risks. What if a fire, flood, or natural disaster damages or destroys your seasonal vehicle? If you haven’t maintained year-round comprehensive coverage, you will have to foot the bill for repairs or replacement if it’s a total loss.
Three things to do to get your seasonal vehicle on the road
Officially, the first day of summer is June 21st. But we’ve been into the warm weather for many weeks now, and most bike and classic car owners have already brought their vehicles out of winter storage. Below are three things to remember before you hit the road.
Reactivate your road coverage
If you’re like most people, you temporarily suspended road coverage, including its third-party liability and accident benefits while your vehicle was stored over the winter. Before you take to the open road again, contact your broker to get your coverage reinstated and make sure your policy is up to date.
Make sure your plate is registered
Double-check with the MTO (in Ontario) and confirm that your seasonal vehicle’s licence plate registration is active and the plate sticker is valid. Each province or territory has specific licensing requirements for seasonal vehicles.
Make sure the vehicle is roadworthy
Any vehicle that sits idle for several months needs a thorough check-up to ensure it is in good working condition. You can likely perform many vehicle maintenance requirements on your own while some others might require a mechanic. Either way, check all fluid levels, including oil and coolant, inflate the tires, and if you used plastic to seal the exhaust pipes and air intakes when you were storing the vehicle to keep the moisture out, don’t forget to remove them.
Call your broker
Whatever you drive, it only takes a few minutes to check with your insurance broker to confirm that your policy is in order and you can take to the road with the peace of mind of knowing your investment is protected.