Waiver of Depreciation coverage
Get the same model as the one you bought.
A new motorcycle is a big investment, so you want to be sure that you won’t lose out if you fall victim to theft or have a serious accident.
Here’s how the coverage works.
- You must have a motorcycle insurance policy with us and satisfy its conditions.
- You must be a licensed driver of a motorcycle.
- Your motorcycle has to be declared a total loss due to an accident or because it was stolen, vandalized or involved in a weather-related incident such as hail or a severe storm.
- You must be the original owner or lessee.
- Your motorcycle has to be new or a demo.
- The value of your motorcycle must not exceed $35,000, including accessories and taxes.
- You must reside in Ontario.
The information and examples provided in this section are intended as general information only. This does not constitute legal or insurance advice, nor does it pertain to determination of fault. In all cases, you should speak to an insurance professional before acting. Your insurance policy contains limitations and restrictions which vary by province and may affect your coverage and/or determine whether or not benefits will be payable.