Riding a bike is fun, but safety is the prime factor as you tend to speed up and feel the wind. Even after taking full-proof precautions and decent driving, an accident can occur. It can be bad weather, technical fault or a mistake by a driver from another vehicle.
As a result, you might need medical help, leading to extra financial needs. And fortunately, you can have motorcycle insurance in Alberta to save your back in such difficult times.
Let’s know the details.
Motorcycle Insurance in Alberta: Why is It Important?
Motorcycle insurance is the same as other types of insurance. It’s the indemnity that a company guarantees for any serious loss or damaged due to a motorcycle accident.
This insurance won’t prevent the road accident but ensures you bear the repair bills to your bike or medical bills for the injury besides other costs due to this unexpected event. So, you can enjoy peace of mind without worrying about the damages and expenses.
You may face a big fine without insurance or your licence can be suspended.
Benefits of having insurance:
As a couple of benefits, motorcycle insurance can cover the below areas with a good insurance policy.
Cover medical expenses:
Paying for the medical expense for the insurance holder will be the basic coverage of this insurance, as we know. As a victim due to motorcycle accident, you don’t have to pay anything for the accident.
Cover compensation for the family:
There will be coverage for damages as well. If the victim dies in an accident, their family will get compensation.
Cover cost of additional damages:
You can customize the insurance plans in Alberta. Don’t limit the extent of the insurance only to the accident. You can also get compensation if there is any event of fire or theft.
Benefits for passengers:
You can benefit your passenger at a crucial time by adding an uninsured automobile coverage policy. How? Everyone doesn’t have insurance in their name. So, the rider behind the biker may not have as well.
If you have a passenger on your bike, your motorcycle insurance will cover the medical expenses if your passenger is injured. At least, they don’t need to be worried about financial liability in a post-accident situation.
Factors Determine Motorcycle Insurance in Alberta
- The insurance won’t be the same for every biker in Alberta. There are classifications of bikes regarding the top speed and size of the engine. The variety of the motorcycle a person owns will define their amount of premium. Undoubtedly, one will have to pay more for a bike than a moped or scooter.
- Age and experience are the other two factors regarding the insurance cost.
- What if someone asks you the reason for having a bike? You shouldn’t be surprised while it’s the insurance because that will be a factor here. Also, your licence type, duration, claim, and insurance history matter.
- The amount of coverage also determines the insurance cost.
- The insurance premium will be influenced by the number of accidents and traffic tickets in the record.
The points below may make you ineligible for insurance.
- High performance of the bike
- If the bike is designed for racing
- There is a high theft exposure
- Exotic features or unique construction
- If the bike is homemade or its kits are constructed unofficially
- If the price of the bike is too high or undefined
Tips for the Riders
Following the tips can make your motorcycle insurance easier.
- Attend a certified training course that can save 10-20% of your annual insurance bill.
- Insurance companies set rates in insurance considering the style of your motorcycle. Some companies even don’t cover expensive bikes if the rider is younger. So, choose your bike wisely.
- Increase your deductible and enjoy paying a lower premium.
- Check if your insurance provider has any bundle discount, as most insurance companies offer a price cut if motorcycle insurance is added to an auto policy or existing home.
- There are discount offers for bikers if they join any motorcycle riding club. You can also consider joining one.
- Don’t cancel your policy even if the possibility of using a motorcycle is low while the year is not completed. Some people do that to refund money.
- Try to keep your driving licence record clean.
- Don’t go to one insurance company. At least check three companies and take help from them who gives the best price.
Should I Take Help from an Insurance Broker?
Having an insurance broker will give you several advantages. The most important one is to stand as an intermediary between you and the insurance company. You can thus hope to get the best rate and a reasonable premium.
Besides a good rate, an insurance broker saves your valuable time. There is no need to sit for hours or make phone calls. Just tell them your issue, and it’s done afterwards. Moreover, you don’t have the tension to tackle possible upcoming problems.
What else you can expect from an insurance broker is the services mentioned below-
- Motorbike insurance review
- Insurance comparison shopping
- Personal service from a brokerage
- Different kinds of discounts to save money on insurance
We want to end the article by saying that motorcycle insurance in Alberta is affordable and reasonable. The matter is—bikers need to know how they can have an ideal plan for themselves.
If you are the person who uses their bike daily, your policy won’t match with the other person’s policy who merely has a trip once or twice a week. But, one thing is common here, it would be wise to get a customized one.