Another Ins question
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Outstanding HDF Member
Joined: Jul 2010
Posts: 2,420
Likes: 1
From: W. CENT. IL
Another Ins question
The story is I bought a SG in Aug . I got a 6mo policy thinking that I would renew for a year in Feb. I have had contact with my agent and they say the Ins Co wont renew to yearly contract renewal time frame I would like to have. I totaled my last bike no ticket just payout from previous Ins Co. This ofcourse runs my rate up and helps limit my options. My question is do I need to bite the bullet and pay on the time line set in place or do I have a leg to standon to get a yearly bill at the time I find financially desireable at the better rate that this company offers. Any suggestions or pointers would help. I am in good standing with my agent and will speak to him direct tommorrow.
Tourer
Joined: Jun 2010
Posts: 401
Likes: 0
From: Cameron, NC
If it's a different company, all you have to do is have it go into effect the day before your other policy runs out so you don't get hit with the "no liability" fines. If it's with the same company, you may want to remind them they work for you and not vice versa. May be able to get a better answer in the insurance forum
Road Captain
Joined: Dec 2010
Posts: 617
Likes: 19
From: Baltimore, MD
It's likely that there's not a lot you can do. With smaller premium personal lines policies like motorsport, it;s often a take-it-or-leave-it proposition. Some companies are more flexible in terms and payment plans than others, but they will all follow their own filed protocols without deviation.
Don't know who your carrier is, but it may pay to shop around some. I my experience, direct writers (like USAA and Progressive) tend to be a little more flexible.
You could bite bullet and renew for 6 months and keep shopping. What you don't want is a gap in coverage. If you find a new policy you like, you can generally cancel w/o a penalty and the carrier must return the unearned premium. Some states have provisions that allow the carrier to keep a cancellation fee (ask) and all states have some regulations that say how long the carrier has to return the unearned premium to you.
Don't know who your carrier is, but it may pay to shop around some. I my experience, direct writers (like USAA and Progressive) tend to be a little more flexible.
You could bite bullet and renew for 6 months and keep shopping. What you don't want is a gap in coverage. If you find a new policy you like, you can generally cancel w/o a penalty and the carrier must return the unearned premium. Some states have provisions that allow the carrier to keep a cancellation fee (ask) and all states have some regulations that say how long the carrier has to return the unearned premium to you.
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