April 6, 2016 by Staff
Previously, motorcyclists chose between tort coverage and full no fault injury coverage.
“This new option gives motorcyclists more choices but also ensures they continue to have some injury coverage should they need it,” SGI’s president and CEO Andrew Cartmell said in a release. “Motorcyclists, just by virtue of being so exposed with little protection, are typically much more seriously injured in collisions. It’s important for motorcycle owners to ensure they have the right coverage for their individual needs – as well as those of their family – if they are injured in a crash.”
Motorcycle owners who choose reduced no fault coverage will receive discounts from five to 30 percent, based on their bike’s engine size.
If a policyholder with such coverage is found 50 percent or more responsible for a collision or is in a single-vehicle crash, they will receive fewer benefits. If someone else is responsible, they will receive full no fault injury benefits.
The coverage was first announced in May 2015, and came into effect on April 1, 2016.
This story was originally published by Canadian Insurance Top Broker.