Motorcycle Insurance in Ontario
Coverage can range from a stand-alone policy to a bundle with your auto insurance. At Duliban Insurance we’ll help you find the protection you need for the road.
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Understanding Motorcycle Insurance
Motorcycle insurance can be purchased as a stand-alone policy or as a rider to automobile insurance. It may be bundled with other insurance for a possible discount. All motorcycle insurance policies in Ontario have mandatory coverage amounts as well as some add-on optional coverage. The base coverages are:
Third Party Liability Coverage – standard liability, as with automobile insurance.
Statutory Accident Benefits Coverage – list of miscellaneous benefits.
Direct Compensation – Property Damage Coverage (DCPD) – claims only done through your insurer.
Uninsured Automobile Coverage – covers damage or loss caused by another with no insurance.
The standard mandatory coverages all focus on motorcycle accidents with other vehicles. If you want to insure against loss or damage to your motorcycle, the following coverage may be added to your policy:
Specified Perils – a la carte coverage of specific sources of loss and damage.
Comprehensive Coverage – all specified sources of loss and damage.
Collision or Upset Coverage – damage or loss from collision with non-vehicle objects.
All Perils Coverage – combination of Comprehensive and Collision or Upset Coverage.
Each province in Canada sets its own standards for insurance. If an Ontarian were to get into an accident in another province with higher minimum coverage amounts than the Ontarian’s insurance policy, the insurance would honor the higher minimum coverage of the local province. If a motorcyclist rides on public roads in Ontario, that motorcyclist must carry insurance. Ontario provincial mandates for motorcycle insurance are as follows:
Third Party Liability Coverage has a minimum of $200,000. One can purchase a policy with higher coverage amounts.
Direct Compensation – Property Damage Coverage is a feature in the policy that ensures that no matter who is at fault in an accident, the policyholder only interacts with their own insurance carrier. It is that insurance carrier which contacts other parties and their insurances when resolving a claim.
Statutory Accident Benefits Coverage is actually a list of minimum coverages set by the province:
- Medical payments – $3,500 per person for minor injuries, $65,000 for non-minor, non-catastrophic injuries, $1,000,000 for catastrophic injuries
- Funeral expense benefits – $6,000
- Disability income benefits – dependent on the income of the injured
- Death benefits – $25,000 to a spouse, $10,000 to each surviving dependent and/or parents and guardians
Note that Statutory Accident Benefits Coverage provides benefits to other parties when the policyholder is at fault, not to the policyholder.
Uninsured Automobile Coverage has a minimum of $200,000. As with Third Party Liability Coverage, one can purchase a policy with higher coverage amounts.
The following optional coverages all relate to losses possible in situations that do not involve accidents with other vehicles. There are options to insure against specific types of loss, and also options to carry blanket coverage. Individual considerations and preferences will dictate which, if any, of the optional coverage options make sense for you.
Specified Perils Coverage
Specified Perils Coverage insures you against losses caused by the perils that you specifically choose. The possible perils are:
- Theft or damage associated with attempted theft
- Rising water
- Explosion, riot, or civil disturbance
- Failing or forced landing of aircraft or debris from aircraft falling from the sky
- Accidents involving vehicles conveying your motorcycle on land or water, such as trailers, ferry boats, etc.
If you want to insure against multiple perils, you may sign up for coverage separately. If the list of perils you wish to insure against is a good number, you may want to consider signing up for Comprehensive Coverage. Comprehensive Coverage will cover all the perils listed above, save for damage caused by theft committed by a household member. There will be a point where Comprehensive Coverage will be more economical than having several Specified Perils, though individual cases will differ at which point it becomes more economical.
Collision or Upset Coverage
Collision or Upset Coverage might sound related to base coverage, which concerns accidents with other vehicles, but in fact, covers damage caused to your motorcycle caused by upset or colliding with a non-vehicle object. The distinction between a collision and one of the specified perils is that a peril acts upon your motorcycle, as opposed to a collision, which happens when your motorcycle hits another object.
All Perils Coverage
All Perils Coverage is similar to Comprehensive Coverage, covering all categories of peril, but also includes Collision or Upset Coverage. All Perils Coverage is the most comprehensive optional coverage for motorcycle insurance, not Comprehensive Coverage. All Perils Coverage will also cover damage caused by theft committed by a household member and employees.
Customizing your motorcycle insurance to fit your needs can be a complicated task. The experts at Duliban Insurance are more than happy to assist in navigating the complexities of designing the motorcycle insurance policy that best fits your circumstances.
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