Waiver of Depreciation for Motorcycle in case of Total Loss

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. That’s where our waiver of depreciation coverage comes in. If you’re interested in adding this coverage to your policy, give us a call and one of our insurance advisors will be happy to help you.

How the coverage works.

If your motorcycle is declared a total loss within 24 months of the time of purchase, we may settle the claim based on the bike’s original cost.

Who’s eligible?

  • You must have a motorcycle insurance policy with us and satisfy its conditions.
  • You must be licensed to ride 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.


Please note waiver of depreciation may also be referred to as removal of depreciation deduction.
In case of discrepancy between the information provided on this website and your insurance policy, your insurance policy prevails. Remember, the exclusions and limitations specified in your policy apply in all circumstances.
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 advisor 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.