Before you let someone borrow your motorcycle, there are important things you must know about how it could affect your motorcycle insurance premiums. Read below to learn more about lending your motorcycle to someone in Ontario.
When you buy an insurance policy in Ontario, you provide the insurance company with details about your past driving experience as well as the details about the motorcycle you will be riding while insured. This means that your insurance will follow your motorcycle, regardless of who’s riding it. Below we are going to highlight other important facts so that you’re well informed before letting someone take your motorcycle for a ride.
What Happens in an Accident?
It’s important to highlight this fact again: In Ontario, when you allow someone to borrow your motorcycle, they are also "borrowing" your insurance.
If someone who is borrowing your motorcycle gets into an accident, your insurance policy should cover the costs if the rider complies by doing the following:
- Carries a valid Ontario motorcycle licence
- Has been given permission to drive the motorcycle
- They are following the rules outlined in the insurance policy
- Were not involved in any illegal activity
- They were not convicted of a criminal code offence under the Highway Traffic Act
It’s important to keep in mind that if someone gets into an accident while operating your motorcycle, your insurance premiums could increase as if you were the one riding it. It's also important to note that each insurance company may have different rules regarding eligibility so it's crucial that you speak with your insurance broker before you let anyone borrow your motorcycle,