Ride in it !
Your bike is a hunk of metal or carbon, it wont fall apart.
Your skin is 100% waterproof.

If riding in the rain cuts the life of your bike in 1/2, big deal, buy another. At least you'll still be alive and healthy due to riding to be able to buy another.

In vancouver were at 25 days days in a row of rain. I ride 2 hours a day, every day.