How come Geico wouldnt let me buy a motorcycle policy? I told them I would be selling the bike soon and?

Question

they said they dont do temporary policy's. I already have two policys our two cars. And my husband used to have a policy with his motorcycle but he quit riding for a year. And now we want to buy a house so we are selling it. He has been in storage that is why it hasnt been insured. Now that we want to sell it. We want to put it in the front yard with a For Sale sign on it. And just to be safe we want it insured. I was stupid for telling Geico that wasnt I??

What can I do now or where do I go to get insurance on it so I am not paranoid something will happen to it!

Any advice will be helpful

Best answer is always given right away!

Answer 1

It "costs" a certain amount to start the policy - so, they don't want to start a policy and have you cancel it pretty soon after you start it.

Does GEICO insure your cars?

You might look around in your local area for an insurance agency that specializes in motorcycle insurance.  

Good luck and I hope this helps!

Answer 2

They denied to write the policy because insurance companies view it as a higher risk when someone wants to insure something for a very short period of time. From the company's standpoint, there is a much more likely chance of attempted insurance fraud with those circumstances. Some people will purchase an insurance policy and then the bike mysteriously gets "stolen" or winds up catching on fire.

Why don't you keep it in storage and run an ad in the local newspaper and auto trader magazines? You could show it upon request, because I don't know any companies that will write you coverage when you're putting it up for sale. BUT....your best bet to find a place that WILL write you temporary coverage is an independent agent or broker.

Answer 3

Call Progressive.  Although you'll STILL have to pay for a full year of motorcycle insurance, or close to it.  And when you cancel the policy you won't get a refund.  

They need to cover the cost of issuing the policy, which is why no one wants to give you a temporary policy.