From September through November, we see a wave of people buying and selling motorcycles. Manufacturers introduce new models for the upcoming year, enticing enthusiasts with exciting deals and incentives on the previous year's models still on showroom floors. We also see a spike in motorcycle listings as riders sell their bikes at the end of the riding season in preparation for making a new purchase in the spring, so there are great deals to be had on pre-owned bikes.
In addition, rider training courses continue into late October and sometimes early November, allowing novice riders to get some practice in before winter.
Seasonal motorcycle insurance benefits
All motorcycle insurance policies in Canada are seasonally rated and provide coverage for a full year, beginning from the policy start date. This means that whether you start your coverage in June or December, you are still insured for the same period of time. Importantly, you only pay for the "riding months" (March through October), with the "winter months" (November through February) included at no extra cost.
Understanding this aspect is crucial for those purchasing motorcycles in the offseason, as well as those who think canceling their insurance during winter would save them money — it would not, as these months are included at no extra cost. It makes more sense to keep coverage throughout the year, capitalizing on these free bonus months and avoiding coverage gaps while potentially earning loyalty discounts for continuous insurance.
Security and protection
With the increase in motorcycle thefts in recent years, comprehensive insurance coverage is essential. Motorcycle theft can happen at any time, and having a secure enclosed garage significantly reduces the risk. In addition to theft, comprehensive coverage also safeguards against fire, flood, vandalism, windstorm and hail damage, ensuring comprehensive protection year-round. The inclusion of winter months in your insurance means you can protect your investment without any additional cost.
Financing considerations
If you’re financing your motorcycle, it's essential to secure comprehensive insurance coverage, including collision/upset coverage, within 10 days of the bill-of-sale date. Once the motorcycle is sold, it is no longer part of the dealership's inventory, and it becomes your responsibility to safeguard your investment.
Licensing and training
One common mistake is buying a motorcycle before obtaining a motorcycle class license and rider training. This scenario becomes particularly problematic in winter when rider training courses are unavailable, since the beginner license has a limited shelf life of 60 – 90 days. Taking the multiple-choice written test during winter could result in the license expiring before spring arrives, meaning you’d need to start over. We strongly recommend that all our clients prioritize licensing and training before purchasing any vehicle.
By Ronn Calderon, Business Development Manager, Motorcycle Insurance