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There's nothing like the freedom you feel when riding your motorcycle across Ontario. However, if you're on the road, you're at risk. To ensure you have the coverage and financial protection you need, consider the following Ontario motorcycle insurance coverage options.
Liability insurance covers bodily injury and property damage that you may cause to other people involved in a motorcycle accident.
Collision insurance covers damage, minus your deductible, to your motorcycle if you are involved in an accident. Keep in mind, collision insurance usually covers the book value of the motorcycle before the loss occurred.
Comprehensive coverage pays for damages caused by an event other than a collision, such as fire, theft, or vandalism. However, just like collision, your policy will pay for damages, minus your deductible, and will cover only the book value of the motorcycle.
Uninsured/underinsured motorist insurance coverage covers damages to your and your property caused by another driver who is uninsured or underinsured to cover your damages. This coverage typically pays for medical treatment, lost wages, and other damages.
If you decide to customize your motorcycle, you should look into obtaining additional or optional equipment coverage. Most comprehensive and collision insurance coverages will only cover the factory standard parts on your motorcycle.
There's no need to fully insure your motorcycle if it's stored for an extended period of time. With a lay-up insurance policy, all coverage except comprehensive is suspended for a specified period of time. Ask us for more details about this more affordable seasonal coverage option.