We’ve been noticing more and more motorbikes on the road in Calgary, and we’re happy that those who like to travel on two wheels are finally getting a chance to enjoy their favourite pastime. Before you hit the road, though, we recommend a thorough review of your Alberta motorcycle insurance and safe driving techniques. Both will keep you safe.
Even if you’re happy with your current provider overall, it’s still a good idea to shop around and see what’s out there. You’ll never know what discounts and perks are available if you don’t look, and we at Lane’s can help you find them. As experienced insurance brokers we are able to access a number of different policies provided by the most reputable providers in Canada. We can compare and contrast what is being offered to make sure you are getting the very best motorcycle insurance coverage at the lowest rates available.
Components of Motorcycle Insurance
Just like regular auto insurance, there are two major components to auto insurance in Alberta:
- Liability coverage
- Comprehensive or collision coverage.
It is mandatory that all drivers in Alberta purchase a minimum of $200,000 in liability coverage, which covers for costs incurred when an accident requires litigation. Generally speaking, the more liability coverage your auto insurance policy offers, the better. This enhances your personal financial protection, leaving you more secure in the event of an accident.
The other two components – comprehensive and collision insurance – are accident insurance options and may be purchased individually, together, or not at all. Comprehensive coverage provides for repairs for damage caused to your vehicle by perils other than collision or upset. Vandalism, flood, hail, theft, windshield damage and fire are all examples of events usually covered by comprehensive automobile insurance. Like collision, comprehensive will pay up to the fair market value of your car (less your insurance deductible). Comprehensive coverage may also include coverage for windshield repairs, which is why some may refer to it as “glass coverage.”
Collision insurance pays for damage caused to your motorcycle in an accident, such as contact with a car, or a collision with a building or inanimate object. Additional examples of incidences in which you may use collision insurance coverage are to repair damage caused by hitting a pothole or a curb, or when a driver other than you causes damage to your bike.
Common Motorcycle Accidents
The most common motorcycle accidents include:
- Head-on collisions
- Collisions with turning vehicles
- Lane splitting
- Collisions with fixed objects
Learning how to recognize and reduce risks is the key to avoiding these common motorcycle accidents, which have very high injury and fatality rates.
How Motorcycle Insurance Works
Typical motorcycle insurance does account for the fact that most motorcyclists are only active during the warm-weather months of the year, which are typically defined as March through October. Most insurance brokers in Calgary offer plans in which percentages of your coverage are assigned to the months of the year during which you are most likely to ride actively. If you ever choose to cancel your plan, if it is early in the year and you have not had the chance to ride your bike much, you will get more of your premium returned than you would if you cancelled in November.
Here is an example of how seasonal motorcycle insurance ratings break down:
- November through February: 0 per cent
- March: 5 per cent
- April: 10 per cent
- May: 10 per cent
- June: 20 per cent
- July: 20 per cent
- August: 20 per cent
- September: 10 per cent
- October: 5 per cent
All motorcycle insurance in Alberta and Calgary is continuous, so if you ride you’re free to take advantage of unusually warm conditions if a Chinook wind hits between November and February, which is not uncommon.
Reducing Your Motorcycle Insurance Rates
If you want to reduce your Calgary motorcycle insurance rates, you have several strategies available to you. They include:
- Changing your deductible. The higher your deductible, the lower your annual premium. This universal fact about insurance represents the easiest way for you to get a break on your bottom line.
- Consolidating all your insurance policies with a single carrier. Most insurance companies will offer discounts to customers who have multiple policies with them. For example, if you carry homeowners insurance through a particular company, you might be able to switch your auto insurance and motorcycle insurance to the same carrier and save on all three.
- Add an anti-theft device. If you deter would-be thieves with an anti-theft device, your insurance company may offer to reduce your annual premium. The savings could pay for the cost of the anti-theft device, and then some.
- Take safety training courses. No matter how much experience you have, it never hurts to brush up on your motorcycle safety skills. Taking a certified motorcycle training course sends a message to your insurance company that you’re serious about safety, and you just might qualify for reduced motorcycle insurance premiums as a result.
- Switch to a different type of motorcycle. Certain makes and models are more expensive to insure than others. For example, racing bikes tend to command higher insurance premiums than cruising bikes. If your premiums are too high, you may want to consider a different make, model or type of motorcycle.
Trust Lane’s With all of Your Motorcycle Insurance Needs
If you have any questions about getting your motorcycle insurance ready for the spring, your Lane’s Insurance broker should be your go-to resource. Taking the time to prepare will allow you to enjoy a carefree summer of riding, and save some money in the process.
Our team works with the best brands for home, auto, and motorcycle insurance in Alberta. Learn more about motorcycle insurance from our experienced brokers located in Calgary, Edmonton and Banff.