Thursday, 5 May 2016

Is Calgary Motorcycle Coverage More Expensive Than Auto Coverage?

Just how expensive is motorcycle coverage compared to auto coverage in Calgary? This question seems to be a common question among many of our clients. Today, we will do our best to look into it.

Unfortunately, there is no "one-size-fits-all" answer to this question. This is because insurance policies tend to vary from policy to policy. Unsurprisingly, they also tend to differ from company to company. Many factors can also affect how much money you end up paying each month on your insurance premiums, so you see why there is no clear-cut answer to that question.

Generally speaking though, motorcycle insurance policies tend to be more expensive than car insurance policies in Calgary. This is because driving a motorcycle comes with higher risks than driving a car. Think about it for a moment. Motorcycles are smaller than cars. They are more difficult to see on highways. They are easier to steal. And of course, motorcycle accidents result in higher incidence of serious and fatal injuries. All of these things (and more) can seriously impact insurance premiums.

With that being said, if you are considering purchasing motorcycle insurance coverage there exist several ways for you to lower your monthly premiums. Here are just a few of them:
  1. Purchase an older motorcycle model;
  2. Install a security system on it;
  3. Make sure that it is parked in a garage at night;
  4. Bundle up your motorcycle policy with your other policies;
  5. Enroll in a motorcycle driving course;
  6. Raise your deductible.
And above all, remember to always follow safety regulations. Good luck!