Understanding Insurance for Motorcycles, Snowmobiles, and Other Motorized Vehicles #life #insurance #canada
#motorcycle insurance ontario
Understanding Insurance for Motorcycles, Snowmobiles, and Other Motorized Vehicles
For snowmobiles, insurance is not required while the snowmobile is being driven on the private property of the snowmobile’s owner.
In all other cases, the law requires that you have the following minimum coverages.
Statutory Accident Benefits Coverage to provide supplementary medical, rehabilitation, attendant care, caregiver, non-earner, income replacement, and death benefits if you are killed or injured in an accident, regardless of who caused it.
Direct Compensation – Property Damage (DCPD) Coverage to pay for damage to your vehicle and its contents, if another driver is at fault for an accident that occurs in Ontario and that driver is insured by an insurance company licensed in the province.
Uninsured Automobile Coverage to provide financial compensation for you and your family if you’re injured or killed by an unidentified driver or by an uninsured motorist. It also covers damage to your vehicle caused by an identified uninsured driver, up to $25,000.
- Third Party Liability Coverage of at least $200,000 to protect you if another person is killed or injured, or if their property is damaged. If you’re sued, this coverage pays claims up to the limit of your coverage, and the cost of settling the claims.