If I still owe money on a motorcycle I bought but want t?

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If I still owe money on a motorcycle I bought but want to take the bike off the road for a while, will I be able to cancel my insurance during that time or am I required to keep insurance on the motorcycle because I still owe money on it?

You will need to check with the company you are financing the motorcycle through but most likely they will require you to keep insurance on the bike even if you are taking it off the road for a while.

Since the motorcycle is the asset or collateral of the finance company until it is paid off normally they will require you to carry on the vehicle a certain amount of insurance coverage whether it is being driven or not.

You may want to shop around to see if you can lower your cost of motorcycle insurance. Our partner Safeco offers motorcycle insurance so click here to get a quick quote.

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This car insurance question was asked on 5/25/2007

This auto insurance answer was last updated on 6/8/2007

Melissa L requested this car insurance solution.

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