Mandatory motorcycle insurance in Toronto, Ontario
Is motorcycle insurance mandatory in Toronto? Yes. Just like car insurance, if you drive a motorcycle in Ontario, you must also have motorcycle insurance. Requirements for motorcycle insurance are the same as that for car insurance. In other words, all bikers must purchase policies that contain the following four coverage types:
Third party liability coverage
Liability insurance is a must-have for your motorcycle insurance policy. All motorcycle riders in Ontario are legally required to carry no less than $200,000 in third party liability coverage at any given time. This coverage will come in handy if you get into a motorcycle accident that you caused, such as if you accidentally rear ended someone at an intersection. Under this portion of your policy, you can receive compensation to pay for related costs like medical expenses, legal fees, and vehicle repair bills.
Accident benefits coverage
Accident benefits coverage comes into play if you get into an accident and you or someone else is harmed as a result. Whether someone breaks a bone or suffers a concussion, accident benefits coverage can help pay for the cost of medical attention. Examples of medical fees that accident benefits insurance may cover include prescription drugs, rehabilitation, or physical therapy - basically, anything that is not covered by Ontario health insurance. Accident benefits coverage may also protect policyholders by reimbursing them for the cost of lost income or funeral fees.
Direct compensation - property damage coverage
Direct compensation - property damage coverage provides financial security if you are involved in an accident and your motorcycle is damaged as a result. Under the direct compensation portion of your Toronto motorcycle insurance policy, you can be reimbursed for the cost of vehicle repairs. Please note that this coverage can only be claimed if you did not cause the collision.
Uninsured automobile coverage
Finally, all motorcycle riders in Toronto must add uninsured automobile coverage to their policies. Also known as uninsured motorist coverage, this type of mandatory car insurance coverage protects riders who get into accidents with uninsured or underinsured drivers, as well as anonymous drivers whose identity you do not know because they fled the scene.
Other coverage options for motorcycle riders in Toronto
Mandatory coverage is not the only type of coverage available to motorcycle riders in Toronto. Rather, there are several other forms of protection that you can add to your motorcycle insurance policy, like collision coverage, comprehensive coverage, accident forgiveness coverage, and loss of use coverage. We outline these four optional coverage types below:
Collision coverage protects motorcycle riders if they get into a major accident on the road. Specifically, collision coverage will help pay for the cost of repairing your motorcycle if it suffers damage in the accident. Please note that for collision coverage to kick in, it doesn’t matter whether you caused the accident or not or whether the accident was with another vehicle, animal, or object on the road. If your motorcycle is leased or financed, you might be obligated to have collision coverage for the duration of the lease agreement.
Comprehensive coverage is another type of optional coverage. It is a great choice for motorcycle riders as it can protect your motorcycle from damage while parked. For example, if your motorcycle was parked on the street and a tree branch fell on it, or if it was parked in the driveway and someone stole it, comprehensive coverage would protect you. What’s unique about this type of motorcycle insurance coverage is that you will only be covered for certain risks. These risks are known as insured or covered perils and they will be clearly listed in your insurance policy. Some of the most common risks that comprehensive coverage safeguards policyholders against include theft, vandalism, fire, falling objects, wind, and water damage. As with collision coverage, comprehensive coverage is usually optional but may be obligatory if your motorcycle is leased or financed.
Accident forgiveness coverage
Accident forgiveness coverage is another type of motorcycle insurance that many riders choose to include in their policies. Accident forgiveness is additional coverage that can be added to your motorcycle insurance policy as an endorsement, to protect your driving record and to help prevent your insurance premium from increasing if you have an at-fault accident claim. Note: coverage and eligibility varies by province.
Understanding how motorcycle insurance rates are calculated in Toronto
Motorcycle insurance rates vary considerably, even among riders in Toronto. Why is this the case? Due to the fact that insurance companies use complex algorithms that take into account a wide variety of factors. With so many factors being considered, it makes sense that no two motorcycle insurance policies would cost the same. A list of some of the most common factors an insurance agent will assess when calculating your Toronto motorcycle insurance premium are as follows:
- Where you live (and where you regularly commute)
- Type, model, make, and year of the motorcycle
- Past claims
- Average mileage
- Driving experience
- Driving record
- Insurance history
- Deductible amount
- Regulatory bodies
- How you use your motorcycle
Although a BrokerLink insurance advisor does not set rates, we can certainly help you find a great policy and even figure out which company offers the most affordable rates. Our licensed insurance brokers can also help with tasks like renewing car insurance, answer your burning questions, such as, “Is motorcycle insurance necessary year-round?”, and provide you with a free motorcycle insurance quote. Get in touch today to request your complimentary quote or use our online quote tool now and receive one in five minutes or less.
Find affordable motorcycle insurance in Toronto with help from BrokerLink
Given that motorcycle insurance is mandatory in Toronto, we want to make sure that you are comfortable with how much you spend on it. As licensed professionals, a BrokerLink insurance specialist can give you tips and advice on ways you can save money on motorcycle insurance. This will ensure it’s as affordable as possible for you. Keep reading for a few of our top money-saving tips:
Ask a licensed motorcycle insurance specialist for help
Working with a Toronto insurance broker is a surefire way to save money on Toronto motorcycle insurance. A broker will take the time to understand what your ideal motorcycle insurance policy looks like, as well as how much you would like to spend on it. From there, they will reach out to their contacts at some of the top insurance companies in Toronto, obtain quotes, and compare them to determine which one offers the best bang for your buck. A Toronto insurance broker at BrokerLink can also give you advice on other ways to save money and help you discover all types of auto insurance discounts that may be out there.
Sign up for a motorcycle safety course in Toronto
Signing up for some kind of motorcycle safety course is another tip if you’re looking to save money on Toronto motorcycle insurance. These courses offer expertise and advice on basic everyday safety, group motorcycle safety, and more. By the end of it, you will have learned important defensive driving techniques that will reduce your risk on the road. As such, a Toronto insurance company will be more likely to give you a discount on your motorcycle insurance policy.
Add a telematics device to your motorcycle
Adding a telematics device to any vehicle, including a motorcycle, is another way that you can save money on a motorcycle insurance plan in Toronto. Many insurance companies offer telematics discounts to drivers, so long as they demonstrate good driving habits. If you are confident in your driving skills, ask a BrokerLink insurance advisor about how telematics discounts work. Generally speaking, an insurance company will give you a telematics device to install on your motorcycle or ask you to install a similar mobile application onto your phone. The device or application will monitor your driving habits, like your hard braking and fast accelerating, and the better your habits, the more money you will save on motorcycle insurance. Before installing a telematics device on your motorcycle, read through this list of safe driving tips.
Reduce how much time you ride by taking public transit
Since average mileage is one of the factors that an insurance company will consider when determining your rates, we recommend reducing how much time you spend on the road. The more time you spend on the road, the higher your rates are likely to be. So if you can keep this to a minimum, you might qualify for a lower premium. If you can reduce your riding time by a considerable amount, you might even be eligible for an occasional driver discount. Ways of lowering your annual mileage include taking public transit, walking, cycling, and carpooling.
Bundle motorcycle insurance with property insurance
Bundling insurance policies can result in huge savings, though it also comes with a larger upfront investment since it involves buying more than one insurance policy at the same time. But if you can afford it and are in the market for a second insurance policy anyway, bundles are a great option. Bundling insurance policies almost always results in an insurance discount, so long as the insurance products you want to bundle qualify. For example, you could buy a motorcycle insurance policy and a home insurance policy, or a motorcycle insurance policy for your motorcycle and a car insurance policy for your car. No matter what you choose, be sure to look into bundling packages if you need to insure more than one vehicle or item. BrokerLink can help you find an insurance company that offers bundles that meet your needs.
Maintain a clean driving record
Having a clean driving record is critical if you want to pay less for motorcycle insurance in Toronto. In order to maintain a clean record, know the traffic laws in Toronto and obey them at all times. Take a look at BrokerLink’s motorcycle riding safety guide for more advice on safe riding.
Purchase a motorcycle with a high safety rating
There are so many benefits of motorcycle riding. However, safety isn’t one of them. Generally speaking, riding a motorcycle is considered more dangerous than driving a car, which is why it’s so important to prioritize safety as often as you can. One way to do this is by buying a motorcycle with a high safety rating. When a motorcycle is considered by experts to be safer and more reliable, your insurance company is more likely to give you a break on your insurance rates.
Safety tips for motorcycle riders in Toronto
Keep yourself safe at all times by following these motorcycle safety tips:
Complete a motorcycle safety course
There’s no one better than a professional to learn about motorcycle safety from, and that’s exactly what you get when you enrol in a motorcycle safety course. Research approved motorcycle safety courses in Ontario and sign up for one before riding your motorcycle. Not only will such a course give you useful tips and techniques, but it might even make you eligible for an insurance discount.
Check the weather conditions before hitting the road
Checking the weather before hopping on your motorcycle is a good habit to get into, especially given how fast weather conditions can change. Inclement weather can quickly become dangerous, especially when riding on a motorcycle, which is far more exposed than a car. If clear skies suddenly turn into a heavy downpour or a thunderstorm, it could have grave consequences. However, if you check the weather in advance, you can decide to wait out the bad weather or arrange an alternate mode of transportation.
Wear heavy-duty gear to keep you safe
As a motorcycle rider, you are more exposed to the elements when riding. This makes wearing the right gear so important. Examples of must-have motorcycle gear include a helmet, goggles, and gloves. Boots that go over the ankle and leather jackets and pants are also important, especially if you want to not only keep yourself safe but also prevent road rash.
Take a careful look at your motorcycle before pulling out of the driveway
Before leaving home, we recommend taking a careful look at your motorcycle. Specifically, you should evaluate the brakes, gas level, tire pressure, mirrors, taillights, headlights, oil levels, and turn signals.
Drive the speed limit
All types of vehicles on the road should obey the speed limit, but especially motorcycles which may be more accident-prone. Avoid speeding and even consider driving below the speed limit if riding in bad weather, through a construction area, or in an area with lots of pedestrian traffic.
Make your motorcycle as visible as possible
All cars have blind spots, but these become especially dangerous to those operating smaller vehicles, such as motorcycles. Thus, it would be wise to make yourself as visible as possible at all times. Use your signal whenever you are turning or merging, ride with your headlights when appropriate, wear bright or reflective clothing, and use hand signals if necessary.
Keep a safe distance between yourself and other vehicles
To avoid a collision while riding, maintain a safe distance between yourself and the other vehicles around you. Most experts recommend a minimum of two car lengths on residential roads, though this should be larger when travelling at a higher speed, like on highways.
We’re in your community
BrokerLink is proud to be a member of the Toronto community. We are a customer-driven brokerage, which means we always put our customers’ needs first. Whether you are shopping for motorcycle insurance, car insurance, home insurance, pet insurance, or business insurance, we will be with you every step of the way. Learn more about the pillars and values that uphold BrokerLink by getting in touch today.
Ontario Insurance Links
If you’re a member of a group or association, you may be eligible for more discounts.
At Toronto BrokerLink, we’re here to help you with any insurance needs you may have. Whether it’s insuring your home, car, business, 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 Ontario. 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 free online quote tool that can provide you with a competitive quote in minutes.
Motorcycle insurance Toronto FAQs
What types of motorcycles does motorcycle insurance coverage in Toronto?
Motorcycle insurance in Toronto can insure a wide range of motorcycles, including but not limited to cruising motorcycles, touring motorcycles, sports motorcycles, and restricted speed motorcycles like mopeds and scooters. Please note that no matter what type of motorized vehicle you ride, you will need to purchase insurance for it.
How do I get a free motorcycle insurance quote in Toronto?
You can get a free motorcycle insurance quote in Toronto by reaching out to an insurance company or insurance brokerage near you. Many insurers now offer free quotes to prospective customers, with no obligation to buy a policy from them. It’s a smart idea to obtain a quote if you want a better idea of how much a policy will cost you.
Do I need a driver’s licence if I want to buy motorcycle insurance in Toronto?
Yes. A driver’s licence is necessary when purchasing any type of auto insurance in Toronto, and that includes motorcycle insurance. So make sure that you have a valid driver’s licence before attempting to buy motorcycle insurance from a broker or agent. If more than one person will be riding your motorcycle, they must also have a valid driver’s licence and you will need to show proof of this when purchasing coverage.
If you have any questions, contact one of our local branches.
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