Motorcycle Insurance Nova Scotia

October 29, 2020 | Editorial Team

Motorcycle Insurance Nova Scotia

The east coast of Canada is stunning. Many of the provinces on the east are bordered by the Atlantic Ocean. So, you will get great views everywhere, especially while riding a motorcycle. That being said, if you want to ride a motorcycle down the coast, you will need motorcycle insurance.

As there are many motorcycle and car insurance companies in Canada, finding the best one for you can be hard. But it doesn’t have to be! Keep reading to find out how you can use an insurance search engine called Kanetix to find the best motorcycle insurance in your province!

Best Motorcycle Insurance in Nova Scotia

Kanetix

If you have ever looked for home insurance or car insurance, you may have heard of Kanetix. They are Canada’s premier website for comparing not only insurance but credit cards and mortgages as well. As they have been around since 1999, they work with a wide range of insurance companies.

To use the site, all you need to do is choose what type of product you’re looking for, such as motorcycle insurance. Then, you have to input your personal information. You will also need to include your driving and insurance history. Don’t forget about the make and model of your motorcycle as well. All of this personalized information will help Kanetix find the perfect quote made specifically for you.

In minutes, a list of the best motorcycle insurance policies will come up. Each quote will be specific to you and your requirements. You can then compare each policy to see which one suits your needs. Once you pick a motorcycle insurance policy, you can call Kanetix. They will help set you up with your insurance. But, any claims or future contact you need to make should go through your chosen insurance company directly.

Suppose the idea of contacting individual insurance companies and searching through their sites seems daunting to you, head over to Kanetix.ca instead! There, you will get a list of all the best motorcycle insurance policies in minutes. It is also a completely free and no-pressure service, so what are you waiting for?

How Much Does Motorcycle Insurance Cost in Nova Scotia?

If you are a new rider in Canada, you likely don’t know much about motorcycle insurance. Your main questions might be, how much does it cost? There is, unfortunately, not one answer to this question. The cost of motorcycle insurance varies. Premium costs are based on the five following factors.

Make and Model of Your Bike

One of the first things an insurance company will look at is what the make and model of the bike you’re trying to insure is. Generally, the bigger the bike engine, the higher your motorcycle insurance will be. This is because a bigger engine is typically associated with going fast and insurance companies see that as a liability.

They tend to believe that if you can go fast, you will. Then, you will be more likely to get into an accident. Though you may just be buying a sports bike because you like the look, the insurance company will not see it that way. So, to prepare for the money they might have to spend covering you in the case of an accident, they will charge you a higher premium.

Where You Live

Although the East Coast is generally seen as safe, especially compared to more populated provinces like Ontario, there is still crime. If you live in a city or neighbourhood with high theft rates, your insurance premium will, unfortunately, be higher.

Depending on your coverage, the insurance company will have to pay for bikes that get stolen. So, if you live in an area where this is more likely to happen, expect to pay more.

Carrying Passengers

If you have a motorcycle, you likely have people constantly asking you for a ride. You may not realize it, but that could cause your insurance quote to go up. If you carry passengers, your insurance company will then have to cover them as well. To counteract the cost, insurance companies will charge you more if you tell them you intend to have passengers.

If you don’t intend to, tell your insurance provider that upfront, and they will offer you a lower rate. But, if you get into an accident with a passenger after saying you wouldn’t carry one, you will be responsible. You likely won’t be covered in this case and can even be fined.

Your Age and Experience

If you got car insurance when you were young, you were likely charged a high premium. The same goes for motorcycle insurance. Insurance companies see young people as more of a liability because they don’t have a lot of experience with driving or riding a motorcycle.

One way to counteract this is to get rider training. Insurance companies will see that you received formal training and will likely give you a discount. Similarly, if you continuously maintain a clean driving record, your insurance rate will go down with time.

How You Use Your Bike

The last thing insurance companies tend to look at is how you use your bike. The more you use it, the more you will have to pay. If you use your motorcycle daily, you will have more opportunities to get into an accident compared to someone who only uses theirs on the weekend.

If you intend to use your motorcycle casually for a few months a year, tell your insurance provider that, and you should receive a lower quote.

Frequently Asked Questions About Motorcycle Insurance in Nova Scotia (FAQs)

Who distributes motorcycle insurance in Nova Scotia?

While most insurance companies in Canada cover all provinces, there are specific legal requirements for each province. Here are some of the best insurance companies that offer policies in Nova Scotia.

  • The Co-operators Insurance
  • TD Insurance
  • Munn Insurance
  • Keyes Insurance
  • Surex Insurance

What does motorcycle insurance cover?

What your motorcycle insurance covers will depend on the type of policy for your bike or bikes. Every basic motorcycle insurance, however, will include three things: third-party liability, an accident benefit, and uninsured automobile coverage.

Third-party liability will protect you if you are in an accident, and it is your fault. It covers the person(s) or property you cause damage to.

Accident benefit will provide insurance coverage to you if you are in an accident. This tends to include necessary medical treatment or income replacement. It does not matter who is at fault for you to receive an accident benefit.

If you are involved in a hit and run, you will still be covered with uninsured automobile coverage, rather than your motorcycle insurance coverage. Similarly, if an uninsured driver is at fault in an accident, you will be covered.

What optional coverage is available for motorcycles?

The standard motorcycle insurance is typically enough for you to be able to legally ride bikes. But that doesn’t mean it’s the best option. Standard coverage will only cover certain things. So, here are some of the optional add-ons you can include in your plan.

The first is comprehensive coverage. It was aptly named as it covers most damage that could be caused outside of an accident. This includes damage from events such as fire, falling objects, poor weather like a storm, and vandalism.

The next add-on is collision or upset. If your motorcycle is involved in a collision or upset, the repairs or replacement cost will be covered.

If you want to add both on to your bikes’ plan, you can include all perils coverage. This type is totally comprehensive and will cover your needs as well as your motorcycle in any scenario.

How much does motorcycle insurance cost?

Even within the same province, motorcycle insurance can vary a lot. You may receive a quote from a company that is completely different from another. That is because there are a number of factors that go into deciding what your motorcycle insurance will cost.

But, to give you a ballpark, here is the average cost of motorcycle insurance, depending on your age.

  • If you are 20 to 24 years old, you can expect to pay at least $2200 a year.
  • If you are 25 to 29 years old, you can expect to pay at least $1850 a year.
  • If you are 30 to 34 years old, you can expect to pay at least $1450 a year.
  • If you are 35 to 39 years old, you can expect to pay at least $1300 a year.
  • If you are over 40 years old, you can expect to pay at least $1170 a year.

What is the cheapest motorcycle insurance?

Again, it is hard to determine which motorcycle insurance company offers the lowest rate. As there are so many factors to consider, companies within the same area may end up giving you vastly different quotes.

So, the best way to find the cheapest motorcycle insurance in your area is through Kanetix. We discussed this insurance search engine earlier. It is the best way to compare and contrast multiple insurance quotes at once to find the lowest rate.

What motorcycle insurance is mandatory in Nova Scotia?

Most provinces in Canada require basic motorcycle insurance if you want to ride bikes. In NS, you need third-party liability coverage. Liability coverage will protect you if you are at fault in an accident. The minimum amount you will need for this is $500,000.

You will also need accident benefits coverage. This will protect you and your passengers if you are in an accident that is not your fault.

The last type is uninsured coverage. If you are ever in a hit and run, uninsured protection will cover you.

Although this is the minimum mandatory requirement in NS, it is always advised to get optional insurance coverage to fully protect yourself.

Can I cancel motorcycle insurance in the winter?

Canada often has harsh winters, especially on the east coast. This means it is almost impossible to ride bikes for many months out of the year. It may seem pointless to pay insurance for a motorcycle you aren’t using. So, you are likely wondering if you can cancel it in the winter.

Most insurance companies will let you cancel your insurance for the winter, often with a fee. But, even though it’s possible, it’s not recommended.

Bikes are always in danger as they are expensive and desirable to many people. They can be stolen, vandalized, hit or damaged, even when you’re not using it. If you cancel your insurance in the winter, you will not be covered for any of this.

Sometimes it is even more cost-effective to just keep your insurance. If the insurance providers are charging a fee to cancel your policy in winter, it may make more sense to simply keep it.

It’s always better to be safe than sorry. Consider keeping your policy year-round to protect you and your bikes.

The Bottom Line

Having basic motorcycle insurance is a legal requirement in Nova Scotia and indeed across Canada as a whole. If you can afford to, you should consider getting more extensive coverage. You will want to protect yourself from third-party liabilities, from the costs of repairing your bike and perhaps to increase the accident liability coverage from the minimum requirement to a sum that would give you peace of mind.

We have handpicked our favourite tool for finding the right motorcycle insurance at the right price. That’s Kanetix. They will allow you to enter your details once and receive a number of quotes that meet your specific requirements. Once you’ve gone through your options, you just need to give them a call, and they’ll put your premium in place for you. It couldn’t be simpler.