Being an Ontario insurance brokerage, we’re able to insure a large variety of things. That’s why we wanted to tell you about common seasonal toys you should insure.
We are very lucky to live in Ontario, as we have four seasons of weather and fabulous options to explore our unique landscape. If you enjoy our great province with various seasonal toys, such as a boat, ATV, recreational vehicle classic, or sports car, you should read why having insurance on these items is imperative.
Four Seasonal Toys You Should Protect with Insurance
1 | Seasonal, Sports, and Classic Cars
If you’re a seasonal, classic, or sports car enthusiast, the summer is the ideal time to show off your seasonal/classic vehicle, sports car, or convertible, because the weather is favorable. Typically, seasonal and classic cars aren’t driven for a long period of time – just the warmer months. Often these vehicles are of high value and are stored when the car is unable to be driven, due to messy and unsafe winter conditions.
Insurance Facts |
- When you put a seasonal or classic car in storage you can remove some road coverages while in storage.
- When your seasonal car is in storage, we highly recommended keeping comprehensive insurance on your vehicle as that will protect against any fire, theft, or vandalism.
2 | Motorcycle
A motorcycle isn’t different from other vehicles in Ontario, to ride it you require insurance. The difference with motorcycles is that your insurance premium is calculated based on the riding season. Even though your motorcycle insurance policy is for a one-year period, you make the bulk of your payments during the riding season. Click here for a great article that explains this further.
Insurance Facts |
- By law in Ontario, legally, motorcyclists must have Liability, Accident Benefits, Uninsured Automobile, and Direct Compensation Property Damage insurance coverage to ride.
- We highly recommend having your liability limit be a minimum of $2 million, considering the significant risk associated with riding a motorcycle.
3 | Recreational Vehicle (RV)
If you have an RV you’ll need insurance, but depending on if your RV is a motorhome or not will decide if you require additional insurance. RV insurance hinges on the value of the motorhome and experience or trailer type, you’ll want to discuss your options with your insurance broker to find out what’s best for you.
Insurance Facts |
- RV insurance covers loss or damage for motorhomes, tent & travel trailers, camper units, and fifth-wheel trailers.
- Your current auto insurance policy can extend coverage for fire, theft, and collision if you add your RV to the policy.
- Property insurance can provide 'contents coverage' if you add your RV to the policy.
4 | Boat
In Ontario, boat insurance (for a private boat) is not mandatory, but that doesn’t mean you shouldn’t get it. That being said, there are some instances where boat insurance is required, we’ve shared those details here.
Insurance Facts |
- Liability coverage: boat insurance can safeguard you from damage you cause to another vessel, person, or property.
- Boat insurance can cover other things such as accident repair costs and/or weather-related issues and damage, even when it's docked.
We hope this blog has provided insightful information on why having insurance for your seasonal toys is important. Remember, speak with your Ontario insurance broker today to find out what will work for your particular situation.
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