Motorcycles are a convenient way to commute, especially if you live in a busy area. Most people opt for them instead of cars because they are cheaper, easier to maintain, and most importantly, they help you avoid traffic jams! Motorcycles are also eco-friendly as they consume less fuel, which is also good for your pocket. However, like for all other vehicles, you must get insurance for your motorcycle as well.
Since some people own motorcycles but do not use them all the time, there is something called ‘temporary insurance.’ We will talk about this in more detail, so stay tuned if you want to know more. If you want to research motorcycle insurance in Canada on your own, consider visiting Surex for an excellent experience!
Why Do I Need Insurance?
Insurance provides you with protection against all sorts of perils. Driving a vehicle is risky, which is why insurance is required by law. Accidents happen all the time and whether you are at fault or not, having insurance to cover the costs is the best possible solution.
Motorcycle accidents are pretty common because people sometimes are negligent of their responsibilities as a driver, speed on the road, or simply do not pay enough attention. Therefore, having insurance for these vehicles is crucial.
The mandatory insurance for motorcycles is pretty much the same as for other vehicles. You must have third-party coverage. Moreover, you can also rope in some additional coverages for your own protection. Keep in mind that operating an uninsured motorcycle is illegal.
What Is Temporary Insurance?
Motorcycles come in handy for running errands or traveling to a nearby place. However, you won’t always need a motorcycle, especially if you have a car. Motorcycles are also seasonal, and if you live in an area where it snows, you wouldn’t want your vehicle to be insured while it simply sits in the garage unused.
There are numerous other instances when motorcycles are used for a short period. For example, if you are a student going off to college, you will be leaving your vehicle at home. When you get back, you might want to ride your motorcycle again. However, it might not pay off to insure the vehicle for an entire year if you will only use it for a month or so. This is why temporary insurance exists.
Temporary insurance is when you get coverage for a short span – it can be one day or three months. You can usually register all kinds of bikes, from moped to more expensive ones. Insurance companies will offer you more than enough coverage types, so make sure to do your due diligence before you buy insurance. Only get the coverage you really need as it is short-term.
Do I Save Money On Temporary Insurance?
Getting temporary insurance can indeed save you money. However, that is not always the case. As with any other premium, various factors are considered to determine the final price of your temporary insurance. This includes your driving history, age, location, experience, possible discounts, etc. The price is never the same for everyone, but it is calculated individually for every policyholder.
Short-term coverage is valid for a shorter period, which is why it is logical that it costs less. Even though most of the time this is the case, sometimes it might turn out to be the same as regular insurance. It is up to you to ensure that you are not at a loss before purchasing temporary insurance for your motorcycle.
What Does ‘Statutory Off Road Notification’ Mean?
Once your temporary insurance expires, you will have to register your vehicle as SORN (Statutory Off Road Notification). Of course, this is only done if you do not want to renew or extend your policy and your vehicle is going to sit in the garage for a while.
When you fill out the form, you will no longer be able to ride your motorcycle on the road, at least not legally. This restriction lasts until you decide to register it again, be it for the short or long term. SORN helps you avoid unnecessary taxes. However, you will still be able to insure your vehicle from other things that do not include taking it on the road. For example, theft or natural disasters.
Does Every Insurer Offer This Option?
Short-term insurance is offered by certain insurance specialists only, and not every company provides this service. You might have to look hard to find one, but it’s definitely worth the effort.
You can smoothen the overall experience by hiring an insurance broker to help you find the companies with this option and compare their quotes to figure out which one suits you the best.
This is far more comfortable than having to personally look through every company to find an adept insurance policy. Plus, this can all be done online without you having to leave the comfort of your own home.
Is There An Alternative?
If you want to ride your bike for a limited time but you’re not sure for how long, or if you want to use it for longer than three months but less than a year, temporary insurance might not be the best option for you. You should especially avoid it if the price is almost the same for both short-term and long-term insurance.
Another thing you can do is get regular annual insurance and cancel it whenever you please. You should know that some companies charge a cancellation fee, so consider this option’s viability before doing this. Either way, there are quite a few options for you, so make sure to explore them all!
Do I Really Need Insurance For A Day?
You might borrow a bike from a friend or decide to ride it for one day, so it seems kind of pointless to get insurance. However, it is both illegal and unsafe to be uninsured, and if caught by the police, you will face a large fine and penalty points. Whether it be one day or a month, insurance is non-negotiable!
Temporary insurance is an excellent option if you are an occasional rider who wants to be safe and responsible for whatever time you ride your bike. Do not forget to do proper research before purchasing insurance.