If you are looking for the best motorcycle insurance Ontario, chances are you do not know where to start if this is something that you are doing for the first time. Whether you are a new driver with a probationary driving license or have been riding a motorbike many years, buying a new motorcycle insurance policy can be a challenging process. You will need to spend time on researching and comparing prices of different insurance policies if you do not want to pay some serious money out of pocket when there is an accident.
There are various things you should consider when looking for the best motorcycle insurance Ontario. First of all, you need to know the type of motorcycle insurance to purchase. Just like private car insurance, motorcycle insurance also comes in three primary forms, which include third-party insurance, third party theft and fire insurance, as well as comprehensive insurance.
If you purchase third-party only motorcycle insurance, you will be insured against liability for property damage or bodily injury to third parties in case of an accident. However, this insurance does not cover the driver or their motorcycle. You need to remember that some motorbike insurance plans will have a lower coverage limit compared to car insurance plans.
Third party fire and theft insurance will cover loss or damage to your own motorcycle if it resulted from a fire or theft incident, in addition to the third-party only policy. There are some policies that allow you to claim for towing costs that are incurred because of an accident. But it is important to keep in mind that theft claims are only admissible if the entire motorcycle is stolen and loss of accessories is not covered.
With comprehensive motorcycle insurance, you will have more extensive coverage compared to a third party or a third party fire and theft insurance policy. On top of being covered for damages to third parties, you will also be covered for injuries or death to third-parties as well as claims for loss or damage to your own motorcycle in case of an accident.