How much is motorcycle insurance?

12 minute read Published on Aug 24, 2023 by BrokerLink Communications

Female motorcycle driver on the road

If you are in the market for motorcycle insurance, then one of the main questions you may have is, “How much does motorcycle insurance cost?” Luckily, BrokerLink is here to help you answer this complex question.

Mandatory motorcycle insurance in Canada

As with car insurance, motorcycle insurance is mandatory in Canada for all motorcycle drivers. Thus, something you need to know before buying a motorcycle is what types of coverage are required. While this may vary from province to province, as well as whether you own, lease, or finance your vehicle, the following four types of coverage are the most common compulsory types in Canada:

Third party liability coverage

Liability insurance, otherwise known as third party liability coverage, will cover motorcycle riders who get into accidents. However, this type of coverage will only protect you if you were at fault for the accident. For example, if you accidentally hit a car while turning a corner, the liability portion of your motorcycle insurance policy can pay for any applicable legal fees, medical expenses, repair costs, etc. All motorcycle riders in Canada are required to purchase a certain amount of third party liability coverage, though the specific amount varies by province.

Accident benefits coverage

Accident benefits coverage is another type of mandatory motorcycle insurance coverage. It protects motorcycle riders if they get into an accident that causes bodily harm or injury to themselves or another. For example, if you, a pedestrian, a driver, or a passenger are injured in an accident and require medical attention, it is this portion of your motorcycle insurance plan that will cover the costs.

Direct compensation - property damage coverage

Direct compensation - property damage coverage is also required in all Ontario motorcycle insurance plans. It pays to help repair your motorcycle if it is damaged in an accident. You can usually receive the payout directly from your insurer.

Uninsured automobile coverage

Lastly, uninsured automobile coverage is a compulsory component of motorcycle insurance, helping to pay for the cost of hit and runs or accidents with underinsured, uninsured or unidentified drivers.

Extra insurance coverage for motorcycle riders

There are many other types of coverage available to motorcycle riders beyond the mandatory coverages listed above. Learn more about optional coverage and take advantage of the extra protection that each offers by reading more about four popular types of extra motorcycle insurance coverage below:

Collision coverage

If you crash your motorcycle into another vehicle or grounded object on the road, collision coverage will come into play. Specifically, this type of optional motorcycle coverage can pay for the cost of repairs, which can be expensive, depending on the extent of the damage. The good thing about collision coverage is it can reimburse policyholders regardless of whether they caused the collision or not. It is worth noting that if your motorcycle is leased or financed, your lender or financing company may require you to purchase a certain amount of collision coverage.

Comprehensive coverage

Comprehensive coverage protects riders against various forms of damage when their motorcycles are parked. For example, if your motorcycle is stolen overnight or a tree branch falls on it while parked in your driveway, it is the comprehensive coverage portion of your policy that will protect you. The specific risks that comprehensive coverage protects against depend on what perils you add to your policy. Common perils include falling objects, vandalism, theft, windstorms, water damage, and fire. For the widest possible protection, you can add all perils coverage to your policy. Note that as with collision coverage, comprehensive coverage may be mandatory in certain circumstances, such as if you lease or finance your motorcycle.

Accident forgiveness coverage

One more type of optional motorcycle insurance coverage popular among motorcycle riders is accident forgiveness coverage. Accident forgiveness is additional coverage that can be added to your motorcycle insurance policy as an endorsement, to protect your driving record and to help prevent your insurance premium from increasing if you have an at-fault accident claim. Note: coverage and eligibility varies by province.

Loss of use coverage

Loss of use coverage may also be worthwhile for motorcycle insurance policyholders as it can cover the cost of temporary transportation if your motorcycle is damaged and needs to be repaired. Depending on the extent of the damage, your motorcycle may be in the shop for days if not weeks, leaving you without a vehicle during this time. Thankfully, with loss of use coverage, your insurer will cover the cost of an alternative mode of transportation during this time, whether you opt to take public transit, rent a car, or use ride shares like Uber and Lyft to get around until your motorcycle is fixed.

What factors impact the cost of motorcycle insurance?

Now that you know what types of motorcycle insurance are mandatory and available to riders, let’s get back to the topic at hand: how much is motorcycle insurance? The reality is that motorcycle insurance rates can vary significantly between drivers. Why? Insurance companies take into account a wide range of factors in order to accurately assess your risk and assign your premium. Where you ride your motorcycle, the type of motorcycle you ride, your age, and more can all affect your motorcycle insurance premium. We explain a few of the most important factors and how they can impact your rates below:

Driving record

Your driving record can have a significant impact on your motorcycle insurance premium. Your record reveals your driving experience to date, and it offers an indication of your driving responsibility. The more infractions and accidents on your record, the riskier you will appear. Conversely, if your driving record is clean, this shows that you are a safe and responsible driver. Safe drivers often enjoy lower rates and may even qualify for a safe driver motorcycle insurance discount.


Age will also affect how much you pay for motorcycle insurance in Canada. Insurance companies see age as an indication of risk, as young drivers have less experience, and therefore may be more likely to get into accidents. That said, there are ways to keep rates down for new drivers, like signing up for a driver’s education program or motorcycle safety course.


Gender is another detail that can impact motorcycle insurance costs. Why does gender matter, you may be wondering? Statistics Canada shows that male drivers get into accidents in higher numbers. As such, male drivers tend to pay more for motorcycle insurance than their female counterparts. That said, if your driving record is clean, regardless of your gender, you can likely enjoy lower premiums.

The type of motorcycle you ride

The type of motorcycle you ride can influence your premium just as the type of car you drive can do the same. There are all different types of motorcycles out there, some of which go faster or are more expensive than others. Typically, those that go at faster speeds and are more expensive cost more to insure than slower, budget-friendly vehicles. This is because your odds of getting into a collision may be higher and the cost of replacing or repairing your motorcycle will be greater if it is more expensive.

Whether you have completed a motorcycle safety course

Whether or not you have completed a motorcycle safety course is another factor that an insurance company will consider when setting your premium. Taking a motorcycle safety course is a fantastic way of improving your riding skills and group motorcycle safety. Thus, by enrolling in a course, you are likely to enjoy cheaper motorcycle insurance rates, due to the fact that these courses tend to breed safer, more responsible riders.

Where you live and park your motorcycle

Where a policyholder lives is typically where they spend most of their time riding, as well as where they park their motorcycle overnight, which is why insurance companies will ask for your home address when determining your rates. If you live in a neighbourhood with a high rate of crime or in a home that does not have an enclosed or covered garage, your insurance rates may be higher. Further, if you live in an urban area with lots of traffic, your premium may also be more expensive because with more vehicles on the roads comes a higher chance of getting into an accident. Finally, if you live and frequently ride your motorcycle in an area that is flood-prone or commonly sees other climate or weather-related incidents, like wildfires, your motorcycle insurance premium could also be impacted.

How frequently you ride your motorcycle

Your annual mileage, or how frequently you ride your motorcycle is another factor that will determine how much you pay for motorcycle insurance. Ultimately, the more time you spend on the road, the higher your rates are likely to be. This is especially the case if you regularly drive on major highways or at night. The reason your rates are higher the more you drive is because the more time spent on the road, the greater your odds of getting into a collision. Oppositely, if you do not ride your motorcycle very often, you will likely benefit from a lower premium. Depending on how infrequently you drive it, you might even qualify for an occasional driver motorcycle insurance discount.

Rates set by the insurer

Before moving on to the next section, it is worth noting that insurance brokers like BrokerLink do not set insurance premiums. They can provide quotes, give insurance binders and send off information to the insurance company. Only insurance agents who represent insurance companies calculate premiums and bind coverage. That said, a BrokerLink insurance advisor can still provide you with a free motorcycle insurance quote to give you a better idea of which providers offer the best rates. An insurance broker can also act on your behalf, helping you communicate directly with an insurance company, purchase coverage, update your policy, and renew it down the road. Contact BrokerLink to get started today.

Tips to save money on motorcycle insurance

No matter how expensive or inexpensive your motorcycle insurance policy is, chances are you would jump at the opportunity to lower your rates even more if you had the opportunity to do so. BrokerLink wants to give you this opportunity by letting you in on some of our best tips for saving money on motorcycle insurance. You may not have realized that there are all kinds of strategies in the insurance world if you want to lower your premium. Read on to learn more about ways that you can find affordable motorcycle insurance, even if you are on a tight budget:

Work with a motorcycle insurance specialist at BrokerLink

First, we recommend enlisting the help of someone who understands the world of motorcycle insurance, and there’s no one better than the team of specialists at BrokerLink. BrokerLink has licenced motorcycle insurance specialists available to help you find quality coverage at a low price. We not only make shopping for insurance hassle-free, but we will do our best to work within your budget or find you a policy that’s below it. Contact BrokerLink for more information on how we can help you save money on motorcycle insurance today.

Enrol in a motorcycle safety course

Taking a motorcycle safety course, just like taking a driver’s education program, is a great way to improve your safe driving skills, while also making you eligible for an insurance discount. If you can show proof that you completed a motorcycle safety course in your province, you might receive a discount on your motorcycle insurance policy.

Install a telematics device on your motorcycle

Motorcycle riders can outfit their vehicles with telematics devices just like those with cars can. Why do this? The insurance savings. If you exhibit safe driving habits, ask your motorcycle insurance provider about telematics discounts. By installing such a device on your motorcycle or downloading a similar mobile application onto your smartphone, you could pay a reduced rate for motorcycle insurance.

Take public transit to reduce how much time you spend on the road

As mentioned above, riding your motorcycle less has many insurance benefits. Namely, it can save you money, especially if you drive so infrequently that you can be categorized as an occasional driver. If you are on the cusp of qualifying as an occasional driver, take steps to reduce how much you ride your motorcycle, such as by carpooling, cycling, walking, or taking the bus instead of driving when possible. For more information on occasional driver discounts for motorcycle riders or what mileage you must be below to be eligible for this discount, contact BrokerLink.

Bundle insurance policies

Did you know that you can bundle your motorcycle insurance policy with other insurance policies to save money? It’s true. Bundling insurance policies is a wonderful option if you need more than one insurance product and want to keep insurance costs down. Reach out to BrokerLink to find out which insurance providers allow bundling for motorcycle insurance policies. The companies that do may allow you to mix and match policies, such as buying one motorcycle insurance plan for your motorbike, as well as one car insurance policy for your car or home insurance policy for your home.

Maintain a good driving record

As you now know, your driving record is a major factor when it comes to the cost of motorcycle insurance. Thus, maintaining a clean record is of the utmost importance. Read through BrokerLink’s motorcycle riding safety guide to discover all kinds of safe and defensive riding habits that will help you keep your record clear of infractions and accidents.

Buy a motorcycle with a high safety rating

The type of motorcycle you ride has the ability to raise or lower your motorcycle insurance premium. If you want to lower your premium, choose a motorcycle with a high safety rating. Those that have low safety ratings and high rates of theft typically result in more expensive premiums. In addition, the more expensive your motorcycle and the faster it goes, the higher risk it will be deemed, and the more expensive your motorcycle insurance policy will be. So if you are serious about saving money on motorcycle insurance, consider buying a more economical model or even a used motorcycle.

Contact BrokerLink for a free motorcycle insurance quote

Do you want to find out how much motorcycle insurance will cost you? Get in touch with BrokerLink today to request a free motorcycle insurance quote. We offer free quotes to all Canadian riders, and these quotes are as accurate as can be. Thus, if you want a firm answer to the question, “How much is motorcycle insurance?” obtaining a quote is the best course of action.

To request your complimentary motorcycle insurance quote through BrokerLink, give us a call, visit one of our 200+ insurance offices in Canada, or use the online quote tool on our website. Note that BrokerLink can also help you answer other important questions, like “Is year-round insurance for my motorcycle necessary?” and “How do I find the best motorcycle insurance rates near me?”. Reach out to BrokerLink for more insight into motorcycle insurance.


Motorcycle insurance FAQs

What types of motorcycles require motorcycle insurance in Canada?

All types of motorcycles require motorcycle insurance in Canada. This includes cruising, touring, and sports motorcycles, as well as restricted speed motorcycles, like scooters and mopeds.

What can increase the cost of motorcycle insurance?

A poor driving record is one of the quickest ways to increase your motorcycle insurance premium. If you get into a lot of at-fault accidents or receive lots of speeding tickets, your insurance rates will likely go up. Choosing low deductibles can also increase the cost of motorcycle insurance, as can increasing your coverage and limits.

Why do motorcycle insurance premiums change annually?

The reality is that insurance companies are frequently underwriting behind the scenes, which means that even if your situation hasn’t changed, your motorcycle insurance rates can still increase. For this reason, before renewing your motorcycle insurance policy at the end of the term, shop around and weigh your options. This way, you will know if your existing provider is still offering the best deal on motorcycle insurance.

Does motorcycle insurance cost more for women or men in Canada?

Generally speaking, female drivers pay less for car insurance than male drivers. This is due to statistics that reveal that male drivers are more likely to get into collisions than female drivers. However, keep in mind that gender is just one factor of many that an insurance company will consider. There are several other factors, many of which will have a bigger impact on your rates than gender, that come into play. Some of these factors include your age, location, driving record, the type of motorcycle you ride, and more.