Owning and riding a motorcycle can be one of the most exhilarating things in life. In Canada alone, there are a total of 729,627 registered motorcycles. Back in 2014, there were 688,204 registered motorcycles. This shows that motorcycles are getting more and more popular due to the significant growth of registered motorcycles, especially since Ontario holds the largest number of motorcycle owners and motorcycle clubs. However, owning a motorcycle certainly comes at a high risk, which is why motorcycle insurance is very much needed.
All licensed motorcycle riders who own a registered bike should know that they are required to have motorcycle insurance. To be more specific, the types of motorcycle insurance available are for sport bikes, classic/vintage bikes, cruisers and custom bikes. In Ontario, riders must carry a valid driver’s license at all times, wear an approved helmet, obey traffic laws and drive safely and have a valid owner’s permit, license plate and insurance.
By purchasing motorcycle insurance, it will protect and provide coverage for your bike(s), all listed riders and any covered loss or damages. It should be noted that insurers will base your rate depending on your age, riding experience and the type of bike you own. Meanwhile, some of the available coverage for motorcycle insurance includes the following below: