Oegema Nicholson and Associates is dedicated to keeping motorcycle users safe on the road. We offer a series of insurance products designed for those who not only drive motorcycles, but also mopeds, street bikes and even Segways. Much like other forms of insurance, you can purchase different levels of coverage to make sure you’re getting the right amount for your needs.
A motorcycle insurance policy works nearly the same way as that for four-wheeled vehicles. But because there are some distinctions worth noting, we’ve provided a comprehensive guide to help you understand what this type of policy entails.
What is motorcycle insurance?
Motorcycle insurance offers financial protection if you’re involved in a bike accident. It also provides coverage if your two-wheeled vehicle becomes stolen or damaged. Like conventional car insurance, motorcycle coverage also offers liability protection in case you’re responsible for another person’s injury or damages.
Oegema Nicholson can help you determine how much coverage is right for you. This decision will largely be based on how often you plan to ride your motorcycle and whether you’d like to invest in extra coverage options. Although it is possible to purchase a distinct motorcycle policy, there’s also the option to protect your motorcycle under your traditional auto insurance.
What does motorcycle insurance cover?
A standard motorcycle insurance policy will cover some portion of costs related to damages to your bike. And as mentioned earlier, liability protection is also included. Many insurance firms, however, will allow you to pick and choose your coverage options. Here are some areas that can be customized:
- Loss or damage resulting from non-collision related incidents, such as hail, wind storms or damage from animals
- Loss or damage to any motorcycle upgrades, including sidecars, custom exhausts and transport trailers
- Medical bills, in case you require medical treatment or hospitalization
The key to purchasing the right amount of coverage is striking a balance between protecting yourself from the risks you realistically will face and your budget for premiums.
Does the model of motorcycle affect insurance premiums?
Insurance premiums are determined by a number of factors, one of which is the make and model of the motorcycle. Racing bikes or ‘crotch rockets’ are always much costlier to insure. Motorcycles with a lot of horsepower are at a greater risk for collision. That’s because they’re designed to ride fast, and zip in and out quickly between cars. If you own a particularly fast motorcycle, you may want to consider increasing the amount of liability coverage. It’s also a good idea to purchase extra insurance for medical care.
Is motorcycle insurance costlier than car insurance?
Because the cost of motorcycle insurance varies widely, it’s best to work with an insurance expert at Oegema Nicholson to connect you with the best rates on the market. Motorcyclists tend to pay more than they would for a traditional auto insurance policy. These higher rates are reflective of the risks motorcyclists face on the road:
- Motorcycles are more difficult to see on the road
- Crashes are more dangerous because riders are not enclosed in a steel structure with airbags
- Motorcycles are much easier to steal than four-wheeled vehicles
One of the best ways to save money on motorcycle insurance is to ride safely. Regardless of whether or not you have a clean driving record, our advisors at Oegema Nicholson can help you find affordable coverage.
Does motorcycle insurance protect other riders?
Your insurance policy will only protect other riders should you opt for additional coverage. This is typically an add-on as standard policies will only cover the person insured. So if you plan on lending your motorcycle to a friend or regularly riding with a passenger, be sure to purchase the adequate amount of coverage.
Why trust Oegema Nicholson?
Proudly serving the areas of eastern Ontario and western Quebec, Oegema Nicholson has six convenient locations to address all your insurance needs. Because we are family-owned and operated, we believe our clients should also be treated like one of us. Ogema Nicholson can help you compare motorcycle insurance quotes to get you the coverage you need — at a price you can afford. Whether you require a basic policy for your first motorcycle or advanced coverage for custom bike upgrades, get in touch with Oegema Nicholson to protect your investment.
For more information on motorcycle insurance, call us at 613-224-1455 or contact us here.