Whenever you are driving around, whether in a vehicle or on a motorcycle, you want to make sure that you have some type of insurance coverage Insurance is important because it will help keep you protected in the event you are involved in an accident. Without insurance, you would be left solely responsible for all damages and repairing them. Many areas require that you carry insurance and if you do not, you are not able to operate a motor vehicle.
Motorcycle insurance is a specific type of insurance that covers motorcycles. The insurance policy will cover a specific motorcycle(s) and the person(s) who drives it. Anyone who owns or drives a motorcycle should carry this type of insurance as it will help protect them in the event of any accident or in the event that the motorcycle receives any type of damages.
The answer is, yes. Motorcycle insurance is mandatory and required by law in Canada. You will need to check with your specific province and territory to find out the specific laws concerning motorcycle insurance as they may vary from area to area.
In addition to being required to carry motorcycle insurance, each area and province has set specific coverage limits that must be carried and adhered to as well. This means that you must carry the minimum amount of insurance that has been deemed necessary by your province to be able to operate your motorcycle.
In general, insurance companies will cover a wide variety of motorcycle brands and models. To know for sure if your specific motorcycle is covered, you should contact your local insurance broker.
If you are interested in purchasing a motorcycle, it is advised to call local companies first and find out if they cover the brand and model you are interested in. This will ensure that you are able to get coverage after you purchase your motorcycle.
Insurance companies look at many different factors when they are considering whether or not to cover you and your vehicle. Since motorcycles carry more of a risk than a traditional vehicle, you may have a harder time finding coverage if you have had previous problems.
Some of the things that may restrict you from obtaining coverage are:
All of these can hinder you from being able to obtain insurance. If they do not hinder you, they may affect you in other ways. Your policy and premium may be exceptionally high and you may have to pay a higher monthly fee than the average citizen.
There are different options you can get when you are purchasing motorcycle insurance. Typically, you have your mandatory coverage and then you have optional coverage. Mandatory coverage is the minimum amount of coverage that is required by your province and must be carried in order to drive legally. Optional coverage is additional coverage that can be purchased but it is not required. If you do not purchase optional coverage, you can still operate your motorcycle.
Optional coverage is usually things such as comprehensive and collision insurance. These two specifics coverage options will cover you even more if you are involved in any type of accident or something happens to your vehicle. Comprehensive insurance will take care of damages to your motorcycle that are not caused by accidents. Collision insurance will cover the cost of repairing your motorcycle should it be involved in an accident.
It is important to speak with your local insurance broker to find out all of the requirements needed to insure your motorcycle. It is wise to make sure you can obtain motorcycle insurance before purchasing a motorcycle. Driving without insurance can lead to legal and financial troubles for you so you never want to try and operate your motorcycle without coverage. Choosing coverage will be up to you and will depend on your needs. Make sure to always receive multiple quotes from companies and choose a plan that you are able to afford.