If you’re new to motorcycles, there’s a lot to think about before you’re ready to hit the open road. One thing all motorists in Canada should have is insurance, but where you live can make a huge difference because insurance costs can vary significantly from district to district.
In a note made several years ago by Canada MotoGuide, Ontario leads the way with one of the most expensive motorcycle insurances in the country. The western provinces, particularly British Columbia and Alberta, are significantly cheaper than the provinces. But no matter where you live in Canada, there are actions you can take to save money on your motorcycle insurance.
Complete the Education Course
As a new motorcyclist, one of the smartest things you can do is take a certified education course. Not only will this help you become a much safer cyclist, but you can also save anywhere from 10% to 20% on your annual insurance costs.
There are several motorcycle education courses available in Canada, consisting of the highly regarded Sewing For Motorcycle Education collection offered by the Canadian Safety Council. Many universities also provide motorcycle education as a component of their education and learning programmes.
Choose Your Designs Wisely
Insurance providers consider the design of your bike when setting a price and typically categorize motorcycles as necessities, experience and explore bikes, cruisers, or sportbikes. Because they are designed to be fast and agile, sport bikes are among the most expensive to insure, and some insurance providers also choose not to cover these bike designs for younger, less skilled riders.
Engine dimensions are also an element and insurance costs can increase quickly if the engine capacity of your motorcycle is larger than 650 cubic centimeters. To keep your insurance resettlement more workable until you’ve got a few years of experience under your belt, consider a mid-size non-sports bike as your first motorcycle.
Increase your Insurance deduction
The insurance deduction is the amount you have to pay when you file an insurance claim before your insurance company covers the rest of the claim. This goes for having a $250 or $500 insurance reduction and increasing it can result in a reduced premium. However, before doing this, consider how much money you will save on your total premium and if it is worth the risk, should you need to file an insurance claim in the future.
Your Insurance Bundle
Most insurance providers offer discounted fees if you include motorcycle insurance in your current home or car plan. Be sure to ask your current insurance provider if they offer bundle discounts on motorbikes.
Your location is included as part of the risk calculation for your insurance quote, and if you live downtown, you can expect to pay more than if you lived in the interior. That’s because the odds of an event may be greater on busier roads and insurance companies are looking to offset that risk by charging a larger premium.
While you may not be able to transfer to save a few dollars on your insurance, your place is also used to evaluate the possibility of theft. Some insurance providers offer discount rates if you keep your bike secure in the garage and out of sight of those with bad intentions. You may also receive a discounted rate if your motorcycle has an alarm system installed in a manufacturing facility or if you use an aftermarket[FC2] device such as a brake lock stability system.
Register with Equestrian Club
Not to be confused with “gangs” of cyclists, but many insurance companies offer discounts to motorcycle club participants. The Canadian Motorcycle Organization (CMA) is a national company that has existed for Canadian motorcyclists since 1946, and all CMA participants are eligible for team insurance rates with several significant service companies.
Guarantees Your Bike Too All Winter
Even though you will only be riding your motorcycle for 7 or 8 months of the year, the company provides insurance for a full year. Since you’re not cycling, you may be tempted to drop your plans for the winter and ask for reimbursement. No.
Insurance providers know that motorcycle riding is a seasonal recreational activity, and most riders cannot travel all year round. As a result, costs are based on the normal month of travel, but coverage is extended for a full year. If you terminate your plan only for the winter, you will not receive a reimbursement.
Worse, you could end up paying more. Insurance providers consider the length of time you have continuous incident-free insurance coverage as one way to assess your risk. The lapse of coverage, also only for a few months, may disqualify you for additional discounts.
Keep Your Driving Record Clean
When providing information about your driving record, resist much less temptation than to be honest when asked about previous traffic violations. All insurance providers will confirm your driving background and any traffic violations in the previous 3 years, consisting of speeding and various other driving violations, will be taken into account when determining your plan.
If your driving record has some pimples, agree that at least temporarily, you will pay extra for your insurance. Avoid further infringement, and within a few years, you’ll still be able to take advantage of the “great driver” discount.
Keep Shopping About
Lastly, as with any significant purchase, it is always a smart idea to compare prices from several service companies. Each company uses its own technique to evaluate risk based on points such as your age and experience, and the motorcycle you plan to insure. You should get estimates from at least 3 service companies to make sure you get the best price.