If you’re planning on firing up your motorcycle and hitting the highway in our beautiful province this summer, be sure you’re properly insured first. Adequate insurance coverage is required by law and driving without insurance can result in stiff fines. Keep reading to learn all about the types of vehicles covered by motorcycle insurance, the amount of coverage you need, and more.
The types of vehicles covered by motorcycle insurance in Newfoundland and Labrador
Motorcycle insurance is actually a fairly broad category and covers a number of different vehicles including:
Custom built motorcycles
Ask one of the brokers at Steers Insurance to see if your vehicle falls into one of these categories.
Is the cost of insurance the same for all types of motorcycles?
No. Generally speaking, the more experienced the driver, and the less expensive the vehicle, the cheaper the insurance policy. For example, high-performance speed bikes with a lot of custom enhancements will be more expensive to insure because they require more skill to ride.
The right amount of coverage for you
Our motorcycle insurance covers damage, replacement, medical care and any losses you incur through accident or theft. In the province of Newfoundland and Labrador, you’re required by law to carry two types of coverage:
- Third-party liability—This covers any damage that you do to another vehicle, someone’s private property or any harm that you cause to another person.
- Uninsured/underinsured vehicle—Protects you if you are hit by a driver with no insurance, inadequate coverage, or when the driver can’t be identified.
Other types of coverage are available if you’d like additional protection, including:
- Collision—Collision covers the costs of repairing any damages your motorcycle sustains as the result of an accident.
- Comprehensive—Covers any damage from things like natural disasters, falling objects, vandalism, and theft.
- Medical coverage—Is designed to help you cover your medical expenses if you’re seriously hurt in an accident, regardless of who is at fault. Policies differ, but usually cover medical and rehabilitative expenses, loss of income, and funeral expenses.
Motorcycle insurance coverage in Newfoundland and Labrador
There are a wide range of insurance policies out there, with varying levels of coverage. At times you might feel like you are comparing apples and oranges. That’s where an insurance broker like Steers Insurance comes in. We compare all the options for you so you get the coverage you need at a reasonable price. We have over 80 years of experience finding the perfect policies for our auto, home, travel and life insurance customers in Newfoundland and Labrador. You can always count on Steers Insurance to guide you in the right direction! Contact us today to get started.