Motorcycle Insurance

You’ve got the ride, the freedom of the open road, the wind in your face, but do you have the right motorcycle insurance? Kick that stand up and leave your worries behind. Take comfort in knowing that you have a SurNet broker working for you and go out and enjoy that ride…you deserve it.

With all the different types and sizes of bikes out there, finding an insurer can be difficult. SurNet has partnered with several insurers who specialize in insuring motorcycles. So whether you have a sport bike or a cruiser, we have a policy for you.

Q. Do I need motorcycle insurance?

A. YES! Just like car insurance, it is mandatory in Ontario.

Riding without insurance can result in fines or license suspensions.  You could even have your bike impounded.  If your are convicted of riding without insurance, you will have a hard time finding coverage and when you do, your premiums might be unaffordable.

Q. What coverage do I need?

A. Motorcycle insurance is very similar to car insurance, so you need the same coverages.

A standard motorcycle policy comes with Third Party Liability, Statutory Accident Benefits, Direct Compensation – Property Damage and Uninsured Automobile.  You can also choose to add Comprehensive and/or Collision coverage and increase your Accident Benefits.

Q. Motorcycle insurance is so expensive, how can I make it more affordable?

A. The cost of motorcycle insurance greatly depends on the type of bike you own and the experience you have but there are things you can do to bring the cost down:

Take a rider training course – Much like Drivers Ed, completing an accredited rider training course will not only allow for discounts on your policy, but it will teach your how to ride safely.  Taking a government approved course could also reduce the wait times for graduated licensing.  The Financial Services Commission of Ontario has provided a list of these approved course providers.

Consider a less powerful bike – Bikes with higher cc’s and horsepower come with higher risks and higher rates.  Think about what you need in a bike and chose a bike that fits your price range.

Bundle your insurance – Most insurance companies offer discounts when you insure more with them.  Ask your SurNet broker to also quote your home and car to find out how much you can save.

Customize your policy – Can you afford a higher deductible?  When you contribute more to the cost of a claim, the insurance company will reduce your rates.  Do you even need collision coverage?  When your motorcycle as a lower replacement cost it might not be worth paying for collision coverage and also being responsible for the deductible.  Your SurNet broker can discuss the your options to help you decide what is right for you.

Keep your driving record clean – Accidents and tickets on your driving record can increase the amount you pay for insurance.