Not driving a motorcycle? This information is also relevant if you’re driving mopeds, motor scooters, and motor-assisted bicycles.
You need insurance to drive anywhere in Canada, but there are four types of mandatory motorcycle insurance in Ontario that unlock the keys to your ride.
Mandatory motorcycle insurance in Ontario
In order to drive a motorcycle in Ontario, you need to have a valid M1, M2, or M class license, be 16 years old, and have the proper insurance.
Here are the four types of mandatory insurance you need before you can hit the pavement.
Direct Compensation Property Damage:
This insurance protects you against damage to your vehicle and anything inside in case you get in an accident. This only applies to accidents that happen in Ontario.
Third-Party Liability Coverage:
You need a minimum of $200,000 in case you injure or kill someone or damage their property, but insurers tend to provide no less than $1,000,000 in standard policies now. Claims with third-party liability insurance covers legal costs up to your insured limit if you’re sued.Uninsured Automobile Coverage:
If you’re injured or killed by an uninsured or unidentified driver, this coverage will provide financial compensation to you and your family. It also includes coverage for damage to your car up to $25,000.
Statutory Accident Benefits Coverage:
If you’re injured or killed in an accident, at-fault or not, statutory accident benefits coverage will provide supplementary medical, rehabilitation, attendant care, caregiver, non-earner, income replacement, and death benefits
Are there other types of motorcycle insurance?
Yes, there are several types of coverage you can add to your motorcycle insurance in Ontario.
Specified perils coverage:
Damage from specific causes like theft or fire named in the policy.
Comprehensive coverage: Replace or repair your motorcycle if damage is caused by anything but an accident, like a fallen tree branch or hail storm.
Collision or upset coverage:
Reimbursement for the value of your motorcycle, minus your deductible.
Increased limits for liability and accident benefits
In addition to extra coverage, you can also increase your limits for your liability and accident benefits if you feel you need more.
Why would you raise your limits? If your vehicle is expensive to repair or if you use your vehicle frequently for commuting, or if there are several drivers using the car—some of which have less experience—then it might be prudent.
