The winter season is fraught with weather-related damage, so before the onset of the season, reviewing your insurance coverage to ensure that you are fully protected is essential. This helps you to stay prepared financially for damages to your assets caused by covered perils.
Your vehicles are one of your essential assets. You must assess your auto insurance coverage before winter sets in. Besides making sure that your cars have adequate coverage, you can even save money, in some instances, by reducing coverage on vehicles that you do not use during the season.
Insurance Coverage for Cars
You need more insurance claims while driving your car in winter than in other seasons. The roads are slushy with snow and sleet, and the days are considerably short. Also, with the festive season in between, driving over to friends and family is expected. Adding collision coverage to your auto insurance policy ensures that you are covered in a collision with another vehicle or a fixed structure which is highly likely on slippery roads.
Roadside assistance coverage is another necessary coverage that you must consider buying. Vehicles being stranded or slipping in the snow is a common occurrence during winter. Towing facilities are expensive. You can avoid footing expensive towing bills by adding roadside assistance to your policy. Besides saving money, you also enjoy peace of mind while driving long distances.
If you have multiple vehicles and do not plan to use a car during winter, you can cut down on your auto insurance costs by reducing the coverage you may not need when the car is parked for a long time. You may remove the collision and roadside assistance coverages when they are not used. However, you must ensure that your parked car has sufficient, comprehensive coverage to protect it from theft, vandalism, fire, and storm.
Insurance Coverage for Motorcycles
Riding a motorcycle in wintry conditions can be dangerous. Motorcycle owners usually keep their bikes in storage during the winter season. You must contact your insurance provider to confirm whether you can reduce certain coverages from your motorcycle insurance policy. A few money-saving measures that you may consider are:
- You can remove several coverages and opt for only comprehensive coverage for your in-storage motorcycle, as it provides coverage against theft and vandalism and other covered perils that may cause damage to your vehicle even when not in use. However, only a few insurance providers offer this option to their customers. So, you may ask your insurer to see if you can avail of this benefit.
- Since risks are reduced with your motorcycle in storage, you may increase your insurance deductible and thus pay lower premiums during the winter months.
Insurance Coverage for Boats and RVs
Usage of boats and RVs is unlikely in the inclement winter climate. You may keep a minimum coverage that offers protection against such risks as theft or fire. Also, you must have insurance if your vehicle is under a mortgage.
While with added potential risks, you may need more insurance coverage for the vehicles you plan to use in winter, you can save money by either increasing the deductible or decreasing the coverage for your cars in storage.