Motorcycle Insurance in Fort McMurray

What does motorcycle insurance in Fort McMurray cover?

Motorcycle insurance in Fort McMurray is very similar to automobile insurance, by design. Both insurance policies are mandatory, per Alberta law, and driving without sufficient motorcycle insurance in the province can land you with some serious legal penalties. In Alberta, there are several types of compulsory motorcycle insurance that you must purchase in order to ride your bike legally. Those are as detailed below:

Third-party liability insurance

Third-party liability insurance is mandatory in the province of Alberta and is designed to protect you against costly legal fees, such as repair costs and medical bills if you are ever at-fault in an accident. It can also cover any bills incurred if a lawsuit is filed against you, such as defence costs and any settlements awarded to the injured party. Depending on your insurer, you may be recommended to purchase higher limits for your third-party liability insurance, to combat the rising cost of lawsuits, repair costs, and medical bills.

Accident benefits coverage

Accident benefits coverage is also compulsory in the province of Alberta and is designed to protect any injured parties involved in a collision, regardless of fault. This can include drivers of the participating vehicles, pedestrians, and passengers in any vehicle that were injured in the event. Accident benefits cover the cost of funeral expenses, rehabilitation costs, medical bills, loss of income, and treatment expenses.

Uninsured/underinsured motorist

Although it is illegal to drive without insurance, some drivers still choose to forgo coverage. Unfortunately, this can result in serious consequences if the driver ever gets into an accident. To remedy this and make up for the lost costs, many insurers have included a clause for underinsured or uninsured motorists, which allows those involved to file a claim through their own personal insurance policy.

Additional coverage options for motorcycle insurance in Fort McMurray, Alberta

As you might already know, there’s a difference between compulsory automobile insurance and optional automobile insurance. Motorcycle insurance in Fort Mac works very similar to Fort McMurray car insurance: both are required to drive your vehicle on the road.

Comprehensive coverage

Comprehensive coverage is essentially a form of non-collision insurance, which is subject to a deductible and covers the rider for the cost to repair or replace their motorbike if it has been damaged due to a non-collision peril, such as fire, vandalism, theft, hail, or another natural disaster. We recommend maintaining comprehensive coverage even while your motorcycle is in storage, to maintain continuous coverage and protect it against the elements.

Collision coverage

Collision coverage is thought to go hand-in-hand with comprehensive coverage. Also optional, collision coverage protects you for any collision, whether at-fault or not, involving your vehicle and another vehicle or a stationary object. Collision coverage covers the cost of repairs or replacement for your damaged vehicle. Collision coverage, like comprehensive coverage, is subject to a deductible, which you must pay in the event of a loss.

Loss of use

A loss of use endorsement is a common and oftentimes highly recommended addition to your existing motorcycle insurance policy, as it covers you for the cost of a temporary replacement vehicle or alternative transport if your vehicle is ever out for repairs following an insured loss. Generally, loss of use coverage will compensate you either for the rental car fees or bus fares/Uber fees/taxi cab fares until your vehicle is repaired and ready to drive again.

Roadside assistance

No one wants to have their joyride interrupted by an unexpected breakdown where you have to pull off to the side of the road and call up your nearest roadside assistance emergency services. With roadside assistance coverage, the cost to enlist emergency roadside services is covered – whether that’s due to a breakdown or an unexpected event.

Accident forgiveness

If you are a good driver with a particularly clean record, having accident forgiveness can be a godsend. Accident forgiveness coverage is a waiver that serves to wipe off your first at-fault accident, sparing you from having to suffer increased insurance rates after the fact. Although this only applies to your first at-fault accident, and any accidents after the fact will likely increase your insurance rates, it can be a great way to save money if you’re otherwise a great driver.

How does working with a Fort McMurray motorcycle insurance broker help?

Working with a Fort McMurray motorcycle insurance broker is an excellent way to save on your insurance, while also securing great coverage. While we may sound a little biased, we always advise working with an insurance expert – the same way you’d always hire a professional roofer to repair your roof! – when purchasing insurance or renewing. Here are some of the main reasons why working with a broker is the right choice:

A broker negotiates on your behalf

A broker’s first priority is you, and you alone. Where an insurance agent often represents a single insurance company (and therefore their priority is the single insurance company) a broker represents multiple and serves as an intermediary between yourself and the insurance provider. They show no bias when they shop for insurance and, if you should need to file a claim, they will negotiate on your behalf to ensure you get your quick, fair settlement.

A broker gives you savings advice

With all their industry knowledge, an insurance broker is capable of giving you the advice that you need to make more informed decisions. They’ll let you in on all the best ways to reduce costs, discount opportunities, and suggestions on how to tweak your coverage to reap the best benefits – without slashing any crucial protection!

A broker shops around for you

No need to take time out of your busy day to shop around for motorcycle insurance in Guelph. A broker, operating on your behalf, does that for you! They’ll use their market connections to find you competitive insurance quotes not available to the general public and provide you insights on how to make the best decision.

Key factors impacting motorcycle insurance costs

When it comes to insurance, the question is always a matter of cost. And we don’t blame you – cost should always be a deciding factor in any major purchase. That being said, it does help to understand what goes into those insurance costs. We always recommend choosing not just the cheapest policy, but the best insurance policy fitted to your coverage needs. “Affordable” is the word we like to use. Below are some of the key factors that are evaluated when your motorcycle insurance policy is being priced:

Motorcycle make and model

Pricier, luxury model motorcycles cost more to insure than your standard, higher-safety rating motorcycles with reduced horsepower. The more your motorcycle costs to buy, the more it will cost to replace – and it tends to be that your insurance rates will be reflective of this fact. If you’re still in the insurance buying process, consider the cost to replace your bike and, consequently, the cost it will take to insure it. You may want to be more mindful of your purchase if your budget is particularly tight.

Where you live and park

Motorcycles that are parked indoors in a secure, private garage may cost less to insure than motorcycles that are parked streetside. Your postal code – so the specific neighbourhood where you live – may factor into your insurance premiums. Neighbourhoods in Fort McMurray that see higher instances of crime or have increased traffic and higher collision statistics may result in increased insurance premiums for the vehicle owners and motorcycle riders that live there.

Driver’s education

Being a motorcycle rider comes with a huge responsibility, and you need to be sufficiently informed to know how to operate one. As such, riders with higher rider’s education and courses in group motorcycle safety may pay less for their insurance costs than drivers who only have the minimum licensing. You can mitigate this by enrolling in an approved defensive driver’s education course and refreshing your skills.

Age and gender

As it stands, many insurance companies still use age and gender to gauge the driver or rider’s likelihood of being involved in a collision. Although many insurers are choosing to do away with gender-based risk assessment statistics, many insurers will still charge young male drivers more for their insurance than women of similar age. Oftentimes, years of experience are taken into consideration rather than the person’s age.

Past driving experience

For drivers who have maintained a clean and clear record with few to no violations or at-fault accidents tend to pay much less for their motorcycle insurance in Fort McMurray than drivers or riders who have been involved in numerous incidents/have “dirtied” records. Some incidents will take around 3 years to fall off your record, whereas other, more serious convictions may take up to 6 years to disappear.

Why BrokerLink?

Here at BrokerLink, our motorcycle insurance experts find the best ways to get you great insurance coverage at the best rate. We figure out your needs by asking you questions, determining if you need seasonal insurance or want a more customized policy specifically for you. Be sure to let us know if you have a motorcycle, a scooter, a dirt bike or a side-by-side in your garage, or perhaps if you only use your bike for racing on a closed track. Our policies are very accommodating and can be crafted to suit your individual needs.

As insurance experts, we do the best job when it comes to finding customized coverage for each unique individual and their own bike. Give us a call today to discuss your motorcycle insurance needs with BrokerLink’s Fort McMurray advisors.

We're in your community

Fort McMurray, or Fort Mac, - whichever you want to call it - is your home. It’s ours, too. You might be surprised to know how extensive BrokerLink’s reach is. With over 200+ branches in Canada, we are happy to extend our reach into Fort McMurray and help our fellow bike enthusiasts get theirs protected. If you’re ever involved in an accident or simply need assistance tailoring your coverage, we’re happy to step up and give you the advice you need for ultimate peace-of-mind.

Contact us

Once you are set and have finished buying a motorcycle and are finally ready to begin your motorcycle insurance coverage, reach out to us today at BrokerLink Fort McMurray one of three ways: by phone, by email, or in-person at a local branch. We offer these three options because we understand that everyone has an extremely busy schedule and not every option may be convenient for them. We are happy to connect with you through the medium that fits best, guaranteeing that we can offer great advice to help you find optimal motorcycle insurance in Fort McMurray.

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Fort McMurray motorcycle insurance FAQs

Insurance isn’t always a straightforward topic, and it can become very overwhelming with all the insurance “lingo.” Fortunately, BrokerLink – as self-proclaimed insurance “nerds” – has answers to any of your questions. To help you out a little, we’ve compiled a list of some of our most popular motorcycle insurance questions and answered them below:

Do I need to have motorcycle insurance all year?

Is year-round motorcycle insurance necessary? For the most part, yes. If you don’t use it all year-round, i.e., if you store it during the wintertime, it’s still in your best interest to maintain some level of coverage for your bike. This protects it against the unforeseen, even if something should occur to it while in storage like a fire, theft and vandalism, ice damming, etc. and helps you to maintain continuous insurance history. You can, however, reduce your insurance coverage during this time to help you save some money. You can drop all your “road-legal” insurance requirements and re-apply them when the time comes to ride again.

Of course, if you use your motorcycle year-round, you should always have sufficient insurance coverage. That being said, if you live in Fort McMurray, the odds of you being able to ride “year-round” are very limited. Discuss your motorcycle insurance requirements with your broker to ensure you have the right protection for your needs and how you use your bike.

Is motorcycle insurance expensive in Fort McMurray?

The cost of motorcycle insurance varies, no matter where you live. Depending on your circumstances, experience, and the bike you drive, your motorbike’s coverage may be more or less expensive. For example, if you drove a luxury model of motorbike or had a motorbike with a sports-level horsepower, your insurance might be more expensive. The same applies for if you live in an area with high-traffic, are a younger or inexperienced rider, have a lot of at-fault accidents on your record, etc.

If we’re specifically discussing motorcycle insurance in Fort Mac, then no – insurance rates in Fort Mac tend to run relatively average. In cities, such as Calgary or Toronto, where there are much higher traffic rates and higher incidents of collision, you may expect to pay more for your motorcycle insurance. Either way, working with a BrokerLink insurance advisor is always your best bet to saving the most on your motorcycle insurance coverage.

What is a deductible in motorcycle insurance?

A deductible is essentially a percentage of risk that you as the policyholder assumes when you purchase a policy. Deductible amounts for motorcycle insurance in Fort McMurray range between $250 to over $1,000. When you file a claim, you are expected to pay out your deductible under the corresponding coverage towards the repairs or replacement before your insurance company pays the remaining owed amount.

A deductible also serves as an opportunity to lower your insurance rates, as long as you’re okay with paying a little more out of pocket in the event of a loss. For example, if you had a $250 deductible on your collision insurance, you might choose to increase that amount in order to reduce your premiums. The reason a deductible reduces your insurance premiums is because your premiums are a reflection of your risk: by assuming more of a risk yourself, the insurance company’s risk is lowered and therefore you may qualify for a reduced rate.

How can I get lower motorcycle insurance premiums in Fort Mac?

You can reduce your motorcycle insurance premiums in Fort Mac by practicing safe driving behaviours and enlisting in an approved motorcycle safety course. You can check out BrokerLink’s own motorcycle riding safety guide. Motorcycles can be subject to much higher rates than you might be comfortable with; unfortunately this is the nature of motorcycle riding, but it doesn’t mean you need to sit with these rates permanently. Enlisting the aid of a broker, raising your deductible, and even riding your bike less are all means of reducing your rates.

A broker is the first and foremost thing we recommend when it comes to reducing your costs. Not only will a broker help you find the best coverage, but they also help you find the most affordable coverage. They can recommend tips to qualify for discounts, eligible discounts, group discounts, and small tweaks you can make to your situation to qualify for reduced premiums. Plus, a broker is your representative and negotiates on your behalf in the event of a claim! It’s a win-win overall, and the cost it takes to hire a broker is negated by the savings you’ll reap.

If you have any questions, contact one of our local branches.