Motorcycle Insurance in Red Deer

Do I need to buy motorcycle insurance in Red Deer, Alberta?

Yes, motorcycle insurance is mandatory in Red Deer the same way that car insurance in Red Deer is mandatory. This means that you will need to purchase a motorcycle insurance policy before you start driving your new bike. An insurance broker in Red Deer would be happy to explain what specific types of coverage are required of Red Deer motorists and ensure that your policy features these coverages. In the meantime, we provide a brief breakdown of the mandatory types of motorcycle coverage in Alberta below:

Third party liability coverage

Liability insurance is one type of coverage that all motorcycle riders in Red Deer must have. This type of coverage will pay for the cost of an accident if you cause one. Specific expenses that it can cover include medical expenses, legal fees, and vehicle repair bills. All motorcycle drivers in Red Deer must have at least $200,000 in third-party liability coverage.

Accident benefits coverage

Accident benefits coverage comes into play if you or someone else is injured in an accident and requires medical or rehabilitative care. The medical fees that accident benefits cover may vary but are designed to cover the cost of medical care not covered by Alberta health insurance, such as physical therapy or prescription medications. Accident benefits can also pay for lost income if someone is unable to work due to injury caused by the incident or funeral fees if someone dies as a result of the accident.

Direct compensation - property damage coverage

Direct compensation - property damage coverage can be paid to help repair your motorcycle if it is damaged in an accident. As long as you are not found to be responsible for the accident, you can receive a payout directly from your insurer to help cover the cost of damages.

Uninsured automobile coverage

Uninsured automobile coverage is one more type of mandatory motorcycle insurance in Red Deer. This will cover you if you find yourself in an at-fault accident with a driver who is illegally driving without auto insurance or one who does not have sufficient coverage to pay for the cost of the accident. Uninsured automobile coverage also covers hit-and-runs.

Are there other types of coverage that I can add to my Red Deer motorcycle insurance policy?

Yes! In fact, there are many types of extra protection that you can add to your policy. Although they are not mandatory, like the four coverages listed above, they can still be worthwhile. A few of the most common optional coverages that Red Deer drivers choose to add to their motorcycle insurance plans include:

Collision coverage

If your motorcycle is severely damaged after colliding with another vehicle, an animal, or an object on the road, collision coverage can pay for your motorcycle to be repaired or replaced. This type of coverage usually comes into play if your vehicle suffers severe damage, as it can also help pay to replace your motorcycle if it is totalled and deemed a write-off by your insurer.

Comprehensive coverage

Comprehensive coverage is a second type of extra protection that many motorcycle riders in Red Deer opt for. That’s because it is one of the few types of coverage that protects riders against losses unrelated to collisions. For example, if your bike is stolen or crushed by a fallen tree branch, you can file a comprehensive claim to help repair or replace it. As long as the cause of the damage is listed as an insured peril in your policy, you will be covered for it. Insured perils vary between providers and policies, including theft, vandalism, falling and flying objects, explosions and riots, fire, and weather-related incidents.

Accident forgiveness coverage

Accident forgiveness coverage is another type of motorcycle insurance that many riders choose to include in their policies. Accident forgiveness is additional coverage that can be added to your motorcycle insurance policy as an endorsement to protect your driving record and to help prevent your insurance premium from increasing if you have an at-fault accident claim. While your policy premiums may not increase due to the accident, it does not mean that they will not increase due to other factors, such as rate changes in your area. Note: coverage and eligibility vary by province.

Loss of use coverage

Loss of use coverage is one more type of optional coverage that Red Deer motorists may want to add to their motorcycle insurance plans. With this type of coverage, you can be reimbursed for the cost of taking alternate modes of transportation if your motorbike is damaged in an accident and needs to be repaired. While a mechanic is working on it, you will be without your motorcycle. If this is your only vehicle, this could be a major inconvenience. Thankfully, loss of use coverage will pay for you to rent another motorcycle or car during this time or even take taxis or ride shares.

How motorcycle insurance premiums are calculated in Red Deer

So, you want to know how much motorcycle insurance costs in Red Deer? You’ve come to the right place. Although the best way to find out how much coverage will cost you is to request a free quote from a licensed insurance broker at BrokerLink, it’s first important to understand how insurance rates are calculated. Insurance companies in Alberta typically assign motorcycle insurance premiums based on the following factors:

Driving record

Your driving record is one of the most significant factors that an insurance agent will use to determine your premium. The better your record, the lower your premium is likely to be. What is a good record? One that is clean, meaning free from traffic tickets and other infractions, such as accidents. If your record has multiple infractions, your premium is likely to be higher.

Years of experience driving

The number of years of experience you have as a motorcycle driver can also affect how much you pay for Red Deer motorcycle insurance. Those with several years or decades of experience, especially if they also have clean records, are likely to benefit from cheaper premiums than new or young drivers.

Gender

Gender is another factor that can have an effect on your Red Deer motorcycle insurance rates. This will only be the case if data reveals that one gender of motorists is more likely to get into accidents than another. Historically, male motorcycle riders have been more likely to get into accidents, which has led to higher insurance rates for some men.

The make and model of the motorcycle you ride

The make and model of the motorcycle you ride can impact your motorcycle insurance premium, just as how the type of car you drive can impact your car insurance premium. Given the many different types of motorcycles out there, from mopeds and cruising motorcycles to touring motorcycles, it’s no surprise the type of vehicle you ride can affect your rates. The reality is that certain models may be safer than others or more or less likely to be stolen. They may also have different speed capabilities. As such, your premium will partially be determined by the type of motorbike you own.

Whether or not you completed a motorcycle safety course in Alberta

If you completed a motorcycle safety course in Alberta, you may qualify for a lower premium. Insurance companies believe that those who complete motorcycle safety courses may be at a lower risk of getting into an accident. The more you can reduce your risk as a rider, the better off you will be in terms of your premium.

Where you drive and park your motorcycle

Where you ride and park your motorbike will also influence your rates in Red Deer. This is because some locations are considered riskier than others. For this reason, an insurance agent will ask for your home address and review information on your neighbourhood, including traffic and crime rates. The more traffic that a neighbourhood has and the higher the crime rate, the riskier it will be and the higher your premium may be. Further, where you store your motorcycle matters. If you park it in a private garage or one that is securely monitored, your rates will likely be lower than if you park it out in the open on your driveway, in a large parking garage or on a public street.

How to save money on motorcycle insurance in Red Deer

If you want to qualify for a lower premium in Red Deer, all you need to do is follow the tips below. The BrokerLink team has put together a list of fool-proof advice to help you save money on your motorcycle insurance coverage:

Enrol in a motorcycle safety course in Red Deer

The first step to saving money on Red Deer motorcycle insurance is to enrol in a motorcycle safety course. While there are plenty of benefits of motorcycle riding, safety isn’t one of them. So if you can go the extra mile by completing a motorcycle safety course, and you can show proof of this to an insurance company, you are likely to receive a discount on your policy.

Spend less time driving your motorcycle

If you want to find cheaper motorcycle insurance in Red Deer, one way to do so is by spending less time on your bike. The reality is that the more time you spend on the road, the higher your risk of getting into an accident. In contrast, if you spend less time riding, you will be at a lower risk of getting into an accident and needing to file a claim. If you can minimize how much time you drive your bike by taking alternate modes of transportation, like carpooling, cycling, or public transit, when possible, you could reduce your premium or even qualify for an occasional driver discount.

Bundle motorcycle and home insurance policies in Red Deer

Have you heard of bundling? Bundling insurance policies is when you purchase more than two insurance products from the same provider. Not all products can be bundled but you can usually bundle motorcycle insurance with another auto insurance policy or a home insurance policy, like seasonal home insurance, homeowner’s insurance, or tenant insurance. By purchasing an insurance bundle, you will receive a discount on every policy included in the bundle. This can result in major savings. Plus, you will only have one policy renewal date to keep track of. Contact BrokerLink if you want to know more about how bundling can save you money on your Red Deer motorcycle insurance policy.

Maintain a clean driving record by riding safely

There is nothing more important than riding a motorcycle safely. Not only can driving safely reduce your odds of getting into an accident and injuring yourself or damaging your motorbike, but it can also help you keep your insurance rates down. The safer you ride, the less infractions you’re likely to rack up. Remember that a clean record results in a lower premium and could even make you eligible for a safe driver discount. Contact a BrokerLink insurance advisor for a list of safe driving tips and to learn more about how your driving record can influence your rates.

Purchase a motorcycle that is safe

Prioritizing safety is always a good idea - especially if you want to lower your motorcycle insurance rates. Thus, if you want to qualify for a cheaper premium, purchasing a motorcycle with a higher safety rating is one way to do so. Research safety ratings before buying, as well as what safety features each vehicle has. In addition, speed capabilities can also impact motorcycle insurance rates as those with higher maximum speeds are at a higher risk of getting into accidents. Reach out to a BrokerLink insurance advisor if you want advice on what motorcycle to buy.

We’re in your community

Generosity, respect, integrity, and excellence are the four pillars on which BrokerLink operates. We aim to be generous to our customers, treat them with respect, act with integrity, and provide them with excellent insurance services. When you work with BrokerLink, you will be working with a customer-driven company that cares about the community. Contact us today to find out more about our community initiatives.

Contact us

At Red Deer BrokerLink, we’re here to help you with any insurance needs you may have. Whether it’s insuring your home, car, business, recreational items, travel plans, or pets, let us help you find the best coverage possible.

You can reach us by phone, email, or in person by visiting any of our locations across Alberta. No matter how you choose to get in touch, a BrokerLink insurance advisor will be happy to assist you. We also encourage you to take advantage of our free online quote tool that can provide you with a competitive quote in minutes.

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Motorcycle insurance Red Deer FAQs

What types of motorcycles can be insured in Red Deer?

The types of motorcycles that can be insured in Red Deer include but are not limited to, cruisers, touring, sports, and restricted-speed motorcycles, including mopeds and motorized scooters.

What caused my motorcycle insurance rates to increase in Red Deer?

Many factors can lead to an insurance premium increase. For instance, if you get a traffic ticket or are involved in an at-fault accident, your premium will likely go up the next time your policy renews. Further, if you decide to add coverage to your policy, raise coverage limits, or lower deductibles, your rates could also increase. Insurance companies constantly underwrite behind the scenes, so sometimes rates will be raised due to broader societal trends.

Where can I get a free motorcycle insurance quote in Red Deer?

You can find a free Red Deer motorcycle insurance quote by reaching out to an insurance company or insurance broker near you. You should be able to obtain a free quote with no strings attached over the phone, online, or in person. You should expect to answer some questions about yourself, your motorcycle, and your driving habits if you want the most accurate quote possible.

Do I need a valid driver’s licence to purchase motorcycle insurance in Red Deer?

Yes. You cannot purchase motorcycle insurance in Red Deer without a valid driver’s licence. If you add more than one driver to your motorcycle insurance policy, you will need to provide their valid driver’s licences as well.

How do I renew my motorcycle insurance policy in Red Deer?

Renewing car insurance or motorcycle insurance is a relatively simple process. Contact your insurance provider over the phone, in person, or online and let them know that you want to renew your policy. They will then send you your updated premium and you will make your payment(s) and your policy will renew.

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