Compare Motorcycle Insurance Quotes in Canada
Canadian law mandates all motorcycle owners to carry motorcycle insurance. Whether you’re a weekend warrior or use your bike for the usual traffic-clogged commute, you must protect each ride you make. If something happens to your ride, you want the best motorcycle insurance, a fast claims process, and have all the damage costs covered.
Get the Best Motorcycle Insurance Rates in Canada
Like many motorcycle riders, your bike is your passion. However, you don’t have to spend a fortune to insure your ride since you can quickly obtain affordable rates.
Each insurance provider makes its own risk assessment when setting the rates for your insurance premium. Insurance rates will vary significantly from company to company, so comparing motorcycle insurance quotes is the easiest way to get the best rates. Insurance carriers have online quote tools you may use to generate quotes.
There are also a few things you can do to secure the best rates on your insurance premium, including maintaining a clean driving record, inquiring about money-saving discounts, and being part of a motorcycle association.
Types of Motorcycle Insurance
Third-Party Liability Insurance
Liability insurance covers property damage and bodily injury that you might cause to others involved in an accident. This type of insurance doesn’t pay for damage to your bike or injuries to you. Guest passenger liability, which protects a passenger injured on your motorcycle, might also be available.
Motorcycle Collision Insurance
Collision insurance covers all damages to your bike if you’re involved in a collision with another motorcycle or vehicle. Your insurer will pay for all damages, typically your bike’s book value before the loss occurred.
Comprehensive Coverage
Comprehensive coverage will pay for damages caused by an event that isn’t a collision, including theft, vandalism, or fire. Like collision coverage, your insurer will pay for damages less the deductible and only cover your bike’s book value.
Uninsured/Underinsured Motorist Coverage
This type of insurance pays for damages to yourself and your property caused by another rider who doesn’t carry motorcycle insurance (uninsured) or has insufficient coverage (underinsured).
Accident Benefits
Accident benefits pay for personal medical costs if you’re injured while riding.
Benefits of Motorcycle Insurance
Offers Liability Protection
The liability coverage under your insurance policy will protect you if you’re involved in an accident and are deemed at-fault for other people’s injuries or property damage.
Peace of Mind
While many riders buy motorcycle insurance to comply with the law, the truth is that you can ride with peace of mind knowing that you and your bike are covered from any unforeseen event. You don’t have to worry about substantial out-of-pocket payments because your insurance company will pay for all costs.
You Get Medical Coverage
Motorcycle insurance will ensure that all your medical costs are covered if you sustain injuries in an accident.
Roadside Assistance
Some motorcycle insurance policies will provide emergency roadside assistance if your car has broken down or been rendered immobile due to an accident. This may also include towing to the nearest garage as well as any labour costs.
Coverage for Custom Bike Parts
Some motorcycle insurance policies may also provide coverage for any custom parts and accessories you install on your bike, including chrome parts or a custom paint job.
Motorcycle Insurance FAQs
How Much Is Motorcycle Insurance?
The amount you’ll pay for motorcycle insurance will vary significantly across the nation. While some provinces offer public insurance, others require private insurance. The amount you will pay for motorcycle insurance will depend on these factors:
- Bike make and model. A rugged bike may provide a thrilling riding experience, but bikes built for power and speed are considered more dangerous, hence more costly to insure.
- Where you live. Your motorcycle insurance policy will cost you more if you live in a dense, urban area with higher collisions or theft chances.
- Age and experience. The rider’s age can have a significant impact on insurance premium rates. An older, more experienced rider with a long history of safe riding will pay lower premiums than a younger rider.
- How you use your bike. How will you be using your bike? Will you use it for your short commute to work or use it to cruise trails? The more mileage your bike covers, the higher your insurance costs will be. Make sure you provide your insurer with as much information on how you intend to use your bike.
The amount you pay for motorcycle insurance will depend on your risk exposure. Less risk exposure means lower premiums.
Are Motorcycles Expensive to Insure?
Motorcycles are relatively more expensive to insure because riding a bike is inherently dangerous. Healthcare costs and provincial levies also have a part to play. However, the dangers of riding a motorcycle are contributed by protective gear’s ineffectiveness at high speeds.
Compared to driving a car, bike riders involved in an accident or collision are three times more likely to get hurt or suffer injuries. Another scary fact is that a rider is five times more likely to die due to an accident or collision than a car driver.
With all these risk factors involved, it can be expensive to insure a motorcycle.
Do I Need a Motorcycle License to Get Insurance?
While there are several reasons why an unlicensed rider might want to buy motorcycle insurance, purchasing a motorcycle insurance policy without a valid motorcycle license can be difficult. You’ll quickly get motorcycle insurance if you have a permit.
Can I Cancel My Motorcycle Insurance?
Yes. You can cancel your motorcycle insurance policy after expiration or at any time. You will not be able to get a refund for the portion of your policy that you’ve already used.
Will Customizing My Motorcycle Affect My Premiums?
Customizing your bike could mean the installation of additional accessories that alter your bike’s manufacturer’s standard. These may include a custom paint job, chrome parts, and power-enhancing modifications. Most of these modifications may increase your bike’s value or increase its chances of being stolen, impacting your premiums. You’ll pay higher premiums for customizing your motorcycle.
