Is motorcycle insurance required in New Brunswick?
Yes, motorcycle insurance is required in New Brunswick, as it is in most Canadian provinces. In New Brunswick, like in other provinces, you must have a valid motorcycle insurance policy to operate a motorcycle on public roads legally. This insurance typically includes coverage for third-party liability and accident benefits, among other add-on options.
Riding without the proper motorcycle insurance can result in legal consequences, fines, and potential suspension of your motorcycle licence. It’s essential to ensure you have the necessary insurance coverage in place before riding a motorcycle in New Brunswick or any other province in Canada. Below is a compilation of the essential coverage types required for motorcycle insurance in New Brunswick:
Third-party liability coverage
Liability insurance is an essential component of your motorcycle insurance policy. In New Brunswick, all motorcycle riders are legally obligated to maintain a minimum of $200,000 in third-party liability coverage at all times. This coverage proves beneficial in situations where you are responsible for a motorcycle accident, such as inadvertently colliding with another vehicle at an intersection. With this segment of your policy, you can receive reimbursement to cover expenses like medical bills, legal costs, and vehicle repair expenses.
Accident benefits coverage
Accident benefits coverage becomes relevant when you are involved in an accident in New Brunswick, resulting in injuries to you or others. Whether it’s a broken bone or a concussion, this coverage can assist in covering medical expenses. It encompasses various medical costs, including prescription medications, rehabilitation, or physical therapy. Additionally, accident benefits coverage may also provide protection by compensating policyholders for lost income or funeral expenses.
Direct compensation-property damage coverage (DCPD)
In New Brunswick, direct compensation-property damage coverage is a vital part of compulsory motorcycle insurance. This coverage guarantees reimbursement for the costs associated with repairing your motorcycle when it is damaged in an accident. It’s essential to understand that you can only make a direct compensation claim if you were not responsible for the accident.
Uninsured motorists coverage
Uninsured automobile coverage provides essential protection for Moncton drivers, safeguarding them from hit-and-run accidents and collisions with motorists who lack insurance. With this compulsory auto insurance coverage, your insurance provider will manage the costs in the event you’re in a collision with an uninsured, underinsured meaning their insurance doesn’t fully cover the accident expenses, or unidentified e.g., hit and rundriver.
Moncton motorcycle insurance add-ons
Now that you’ve acquired an understanding of mandatory motorcycle insurance coverage in Moncton, let’s delve into additional coverage options for motorcycle insurance. While these are not legally required like the four coverages mentioned earlier, many riders find these optional coverage types to be highly advisable. It’s important to grasp how each option offers protection, and you can find detailed explanations of each choice below:
In Moncton, if you find yourself in an accident with another vehicle or object on the road, collision coverage steps in to assist by covering the costs of repairing your motorcycle. What makes collision coverage advantageous is that it applies irrespective of whether you are responsible for the accident or not, unlike direct compensation - property damage coverage. It’s essential to note that if you are leasing or financing your motorcycle, your lease or financing agreement may mandate the purchase of collision coverage.
Comprehensive coverage, also sometimes referred to as parked motorcycle coverage, extends protection to riders and their motorcycles even when they are not in motion. This coverage offers financial assistance for damages or losses unrelated to collisions. For example, if your motorcycle in Moncton gets stolen or sustains damage from a falling tree branch, the comprehensive coverage within your policy will step in to reimburse you for the repair or replacement costs. However, it’s important to keep in mind that to have your comprehensive coverage claim approved. The damage must have been caused by one of the specified perils listed in your policy. These named perils may include fire, falling objects, vandalism, water damage, theft, windstorms and animal collisions, among others.
Accident forgiveness coverage
Accident forgiveness is a frequently selected extra feature for Moncton motorcycle insurance policies that appeals to many riders. It acts as an add-on that protects your driving record and prevents an increase in your insurance premium if you make an at-fault accident claim. It’s important to note that the specifics of coverage and eligibility for accident forgiveness may vary depending on the province where you live.
Can I drive a motorcycle in New Brunswick with a Class 5 licence?
No. A Class 5 driver’s licence, which is a standard passenger vehicle licence, does not authorize you to operate a motorcycle in New Brunswick. To legally ride a motorcycle in New Brunswick, you will need to obtain a Class 6 motorcycle licence or add a motorcycle endorsement to your existing driver’s licence. The specific requirements and steps for obtaining a Class 6 licence or endorsement may vary, so it’s advisable to check with the New Brunswick Department of Public Safety or the official government website for the most up-to-date information on motorcycle licencing and endorsements.
What factors affect my Moncton motorcycle insurance rates?
Cost is a crucial consideration when acquiring motorcycle insurance in Moncton. Riders are naturally interested in understanding the expenses associated with their insurance coverage. The determination of motorcycle insurance rates can be complex, as each insurance provider employs its proprietary formula for assessing risk. Nevertheless, comprehending the variables that an insurance company takes into account when factoring their formula can provide insight into your premium. With this in mind, BrokerLink has compiled a list of common factors that an insurance agent in Moncton is likely to take into consideration when determining the right motorcycle insurance rate:
The type, brand, and engine size of your motorcycle have a direct influence on your insurance costs. Motorcycles with high-performance capabilities, often seen in sport bikes, which are known for their higher speeds, are typically linked to greater risks and, as a result, come with higher insurance premiums. Conversely, standard or commuter-style motorcycles tend to have lower premiums.
Driving experience and age
Insurance providers frequently take into account a rider’s age and level of experience when determining insurance rates. Younger and less seasoned riders are often viewed as riskier and more prone to accidents, which can result in potentially higher insurance premiums. In contrast, older and more experienced riders may benefit from lower premiums, as they are considered safer and less likely to be involved in accidents. Check out our tips to improve your safe driving skills.
Your previous driving performance, encompassing any prior accidents, traffic infractions, or insurance claims, carries substantial weight in the calculation of your motorcycle insurance premiums. A pristine driving record void of any incidents generally leads to reduced premiums, signifying a track record of responsible and safe riding practices.
Where you live and work
The specific area where you primarily operate and store your motorcycle can also impact your insurance expenses. Urban regions with heightened traffic volume and crime rates may result in elevated premiums due to the increased accident and theft risks. Insurance providers analyze multiple location-related factors, such as local traffic patterns, accident frequencies, and crime statistics, to determine appropriate premium rates.
The annual mileage you accumulate while riding is another pivotal element taken into account by insurance companies. More extensive road mileage raises your exposure to potential accidents, making riders with higher mileage more prone to claims, which can subsequently lead to increased insurance costs.
Your prior claims history related to motorcycle insurance can exert a substantial influence on your present and future insurance premiums. Frequent claims or a track record of at-fault accidents may trigger higher premiums, as insurers may perceive an elevated likelihood of future claims.
Your motorcycle insurance rates in Moncton, New Brunswick, can be further influenced by the following additional factors:
- Whether your motorcycle has safety features, such as anti-lock braking systems (ABS) and traction control.
- Using anti-theft measures, like alarms, immobilizers, or GPS trackers.
- Where you choose to park and store your motorcycle when not in use, such as a parking garage or storage facility.
- Whether you qualify for any insurance discounts.
- How much coverage you have, and your deductible limits.
- The insurance company you choose to use, as different insurance companies may offer varying rates for motorcycle coverage.
To learn more about motorcycle insurance rates in Moncton, contact BrokerLink today. Our team of seasoned insurance advisors is ready to offer detailed explanations of how premiums are determined and provide you with a free motorcycle insurance quote. Moreover, our dedicated BrokerLink insurance brokers in Moncton can assist you with various insurance-related tasks, such as whether your motorcycle insurance is required throughout the year.
BrokerLink’s top tips on how to reduce your motorcycle insurance rates in Moncton
At BrokerLink, we understand the importance of enhancing your motorcycle riding experience in Moncton while keeping insurance costs manageable. Whether you’re an experienced rider or a first-time motorcycle owner, we offer valuable tips to help you maintain budget-friendly insurance while cruising the open road:
Firstly, it’s essential to assess your coverage needs carefully. Tailoring your coverage precisely to your requirements ensures you don’t pay for unnecessary features. Consider adjusting deductibles, as higher deductibles can lower premiums while still providing essential protection.
Secondly, consolidating multiple insurance policies can be a wise choice. If you have other insurance types like home or auto insurance, bundling them with your motorcycle insurance often results in discounts. Many insurers offer multi-policy or multi-vehicle discounts, reducing your overall insurance expenses.
Moreover, maintaining a clean driving record is crucial. Avoiding accidents and traffic violations helps keep premiums low, as insurance providers typically reward riders with a favourable history by offering reduced rates. Enrolling in reputable motorcycle safety courses can not only improve your riding skills but also make you eligible for potential insurance discounts, demonstrating your commitment to safe riding. Check out our tips for motorcycle safety when riding in a group.
Additionally, choosing secure parking options like garages or storage facilities when your motorcycle is not in use reduces theft or damage risks, potentially leading to insurance discounts. Investing in safety features and anti-theft measures, such as GPS trackers, alarms, or immobilizers, can further reduce theft risks associated with your bike. Learn about what to consider before purchasing a motorcycle.
Lastly, don’t hesitate to inquire with your insurance provider about potential discounts available to Moncton riders. These may include loyalty rewards, academic achievements for young riders, or reductions for motorcycles equipped with anti-theft devices. Consider partnering with a BrokerLink insurance broker in Moncton to access a wide range of insurance options from multiple providers.
Finding the best motorcycle insurance products in Moncton
When it comes to safeguarding your motorcycle in Moncton, New Brunswick, finding the right insurance is essential. From comparing coverage options to considering local providers and understanding discounts, BrokerLink will equip you with the knowledge to make informed decisions and secure the ideal insurance for your riding needs. To find the best motorcycle insurance products in Moncton, you can follow these steps:
Research local insurance providers
Start by researching insurance companies that operate in Moncton and the surrounding areas. Look for insurers that specialize in motorcycle insurance or have a strong presence in the region.
Compare coverage options
Assess your insurance needs and determine the type and level of coverage you require. This may include liability coverage, comprehensive coverage, collision coverage, and optional coverage such as roadside assistance or coverage for custom motorcycle parts.
Get multiple quotes
Contact several insurance providers to request motorcycle insurance quotes. This will help you compare rates and coverage options. Be sure to provide accurate information about your motorcycle, riding history, and coverage needs when requesting quotes.
Check for discounts
Inquire about available discounts. Insurance companies often offer discounts for safe riders, multiple policies,bundling with other insurance like auto or home, motorcycle safety course completion, and anti-theft devices.
Consider working with a local insurance broker
Local insurance brokers in Moncton can help you navigate the options available in the region. They can provide personalized advice and help you find the best coverage for your needs. By working with a local insurance broker, they can research companies, obtain multiple quotes, compare coverage options, check for discounts and more, all on your behalf without you having to lift a finger.
Why partner with a BrokerLink broker?
BrokerLink is a comprehensive insurance brokerage catering to the needs of Moncton residents. Our team is dedicated to simplifying the insurance purchasing process and providing top-notch insurance services. In Moncton, New Brunswick, our team of experts specializes in comparing prices to offer competitive rates for motorcycle insurance. We take pride in offering unbiased and well-informed advice to assist our customers in making confident insurance decisions, whether they are seeking new coverage or renewing existing policies.
Opting for BrokerLink in Moncton highlights three key qualities that distinguish us from others:
Our insurance brokers remain impartial and prioritize each customer’s unique requirements, tailoring coverage solutions rather than promoting specific products.
BrokerLink’s expert brokers handle every aspect, from assessing options from reputable insurance providers to aiding with claims and auto policy renewals. We act as dependable advocates throughout the insurance process.
With over three decades of experience, BrokerLink excels in finding the perfect insurance solutions that align with each customer’s needs and budget, ensuring competitive insurance quotes and excellent value.
At BrokerLink, our expertise lies in offering personalized solutions to safeguard you, your family, and your assets in Moncton. We comprehend the distinct challenges faced by Moncton residents, and our unwavering commitment ensures that you gain access to the best coverage and cost-effective insurance rates. Visit our Moncton location today, and let our dedicated team of insurance brokers guide you through the process to secure the right motorcycle insurance coverage for your insurance needs.
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New Brunswick Insurance Links
If you’re a member of a group or association, you may be eligible for more discounts.
At Moncton BrokerLink, we’re here to help you with any insurance needs you may have. Whether it’s insuring your home, car, business, farm, travel plans, recreational items, or pets, let us help you find the best coverage possible.
You can reach us by phone, email, or in person at any one of our locations throughout New Brunswick. No matter how you choose to get in touch, a BrokerLink insurance advisor will be happy to assist you. We also encourage you to take advantage of our online free quote tool that can provide you with a competitive quote in minutes.
FAQs for Moncton motorcycle coverage
What licence class do I need to drive a motorcycle in New Brunswick?
To legally operate a motorcycle in New Brunswick, it is necessary to acquire either a Class 6 motorcycle licence or include a motorcycle endorsement to your current driver’s licence. It’s important to note that the precise prerequisites and procedures for obtaining a Class 6 licence or endorsement can differ by province. Therefore, it is recommended to consult the New Brunswick Department of Public Safety or visit the official government website for the latest details regarding motorcycle licencing and endorsements.
Do I need motorcycle insurance during the off-season?
Yes, you need motorcycle insurance in New Brunswick year-round, even during the off-season, if your motorcycle is registered and intended for use on public roads. Plus, maintaining year-round coverage is essential because unforeseen events, such as vandalism, theft, fire, or damage from weather-related storms, could occur at any time while your items are in storage.
What is the usual price for motorcycle insurance in Canada?
The cost of motorcycle insurance in Canada can fluctuate considerably, depending on factors like the rider’s age, driving record, motorcycle model, preferred coverage, and geographic area. Generally, annual motorcycle insurance premiums across Canada can vary from a few hundred dollars to more than a thousand dollars. To obtain a more precise cost estimate personalized to your unique situation and location, it’s crucial to request individualized quotes directly from insurance companies.
Is motorcycle insurance cheaper than car insurance in Canada?
The cost of motorcycle insurance compared to car insurance in Canada can vary based on numerous factors. Motorcycle insurance premiums are often lower than car insurance for some individuals, particularly if they have a clean driving record, an older or less powerful motorcycle, and lower coverage limits. However, it’s essential to recognize that motorcycle insurance costs can increase significantly for riders who are young, inexperienced, have high-performance motorcycles, or require extensive coverage. Ultimately, whether motorcycle insurance is cheaper than car insurance depends on your specific circumstances and the coverage options you select.
Will it affect my insurance if I make changes to my motorcycle?
While some alterations may have limited effects on your insurance, others could result in changes to your policy terms and costs. Therefore, it’s crucial to inform your insurance provider about any modifications you make to ensure that your coverage remains precise and suitable. Failing to disclose these modifications could lead to coverage gaps or denial of claims.
If you have any questions, contact one of our local branches.
More Ways to Find a Great Motorcycle Insurance Rate