Before You Ride: Motorcycle Insurance Explained
It’s summertime, and the open road beckons. Whether you ride a motorcycle, moped or motorized bike, there is nothing like letting your bike take you where you want to go. Before you head out, check out this guide to motorcycle insurance.
You need to have motorcycle insurance
Motorcycle insurance rates are based upon factors such as your age, your riding experience and the type of motorbike (or moped, motor scooter or motor-assisted bicycle) you ride. Your insurer can tell you the specific insurance requirements for your province or territory.
A motorcycle insurance policy includes these 3 standard coverages:
- Liability: This coverage protects you if you’re involved in an accident and you damage property or if you injure someone.
- Collision or upset: Covers your motorcycle if it’s damaged in a collision.
- All perils other than collision or upset: covers your motorcycle in case of theft, fire or vandalism.
You can also add optional coverage like Value Plus OptionTM, which protects your new or used motorcycle against depreciation for up to 5 years.
7 ways to save money on your motorbike insurance
- Ask for discounts
Ask your current car and/or home insurer whether you can reduce rates by bundling with your car and home insurance. Other discounts may be available. - Increase your deductible
If you can afford it, a higher deductible can reduce your premiums. - Drop Collision coverage
Collision coverage may not be worth it for an older motorcycle with a low replacement cost. This means you won’t be covered for damage to the bike for at-fault, single vehicle or hit-and-run accidents. - Don’t cancel your policy in the winter
You won’t save on premiums, and your motorcycle won’t be covered if damage occurs while it’s in storage. - Make and model
Newer, faster or higher value motorcycles are more likely to be stolen and repairs are more expensive – both of which result in higher premiums. - Keep a clean record
Younger riders or those with a poor driving record can typically expect to pay higher premiums. - Secure your bike
Store your bike in a locked facility and install an anti-theft device on it, and your insurance premiums may go down.
5 tips for safe, claims-free riding
- Wear an approved helmet
Helmets help prevent collision deaths for both motorcycle riders and their passengers. Check for the helmet’s expiry date, and throw it away after it’s been in an accident. - Check your bike before you ride
Things like tires, brakes and oil and gas levels. And make sure your motorcycle insurance is up to date! - Wear highly visible protective gear
Wear a jacket, pants, gloves and riding boots. Fluorescent material and reflective striping is always helpful. - Be alert, especially at intersections
In Canada, more motorcycle collisions occur at intersections than anywhere else on the road. - Always respect speed limits and road conditions
According to Transport Canada research, 38% of fatally injured motorcyclists had been speeding just before they crashed.
For more on this topic, visit:
CAA Quebec: Motorcycle Insurance
The Personal refers to The Personal General Insurance Inc. in Quebec and The Personal Insurance Company in all other provinces and territories.
These tips are provided for information and prevention purposes only. They are general in nature, and The Personal cannot be held liable for them. We recommend using caution and consulting an expert for comprehensive, tailored advice.
Some conditions, exclusions and limitations may apply. The conditions of the coverages described are set out in the insurance policy, which always prevails.
Auto Insurance is not available in Manitoba, Saskatchewan and British Columbia due to government-run plans.