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Not surprisingly, with better weather, we see more motorcycles on the road. If you’re wondering if there are any differences in their insurance requirements read on!
If you live in Ontario, the province has mandatory motor vehicle insurance. In order to drive a motorcycle in this province, you must have a valid M1, M2, or M class license, be 16 years old and have the proper insurance. This also applies to mopeds, motor scooters, and motor-assisted bicycles.
There are four types of mandatory insurance you need before you can hit the road. The law requires that you have the following minimum coverages:
You must show proof that you have insurance coverage before you can register your motorcycle or moped or renew your registration. If you lie about your insurance or show false documents, you can be fined $5,000 to $25,000. You can also lose your license for up to one year and have your motorcycle taken away for up to three months.
When driving your own vehicle or someone else’s, you must carry the pink liability slip you receive from your insurance company for that vehicle. You’ll need to show this card when a police officer asks for it. If you don’t, you can be fined up to $400.
There are other types of insurance you can get for your motorcycle in Ontario including specified perils (theft or fire) or comprehensive coverage (damage caused by anything that isn't an accident, like hail). Talk to your broker about how this extra protection could benefit you.
Maintaining low motorcycle insurance rates has a lot to do with a clean driving record. Your rates are affected by where you live, your age, how often you drive, and the type of motorcycle you have. Most motorcycle insurance premiums in Ontario start at $100 per month, but it could still more depending on those factors.
That being said, there are other things that can help reduce rates including:
Motorcycle and snowmobile insurance is a specialty insurance product, and not all insurance companies offer it. If you already have auto insurance, check with your broker to learn more.
RELATED READING: Motorcycle insurance requirements across Canada