Motorcycle insurance Ontario
Motorcycle Insurance Quotes in Ontario
Ready to hit the open road on your motorcycle? Before you head out on your next adventure, ensure you have the proper car insurance. In Ontario, it’s illegal to operate a motorbike on public roadways without a car insurance policy, which also applies to driving a motorcycle. Nothing beats Ontario’s scenery, and we understand why so many motorcyclists like to call this province their home. Make sure you’re safe on the road by securing a motorcycle insurance policy wherever you ride in Ontario.
Sharp Insurance serves you. Our innovative solutions help you get better insurance coverage for an affordable price. Get a quick motorcycle insurance Ontario quote today.
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How to Get Optimal Insurance Coverage for your Motorcycle in Ontario
In Ontario, motorcycle insurance is required by law to ride your bike on public roadways. Your typical motorcycle insurance policy includes mandatory and optional insurance options.
Ontario Mandatory Motorcycle Coverage: What Does Motorcycle Insurance Cover?
Like auto insurance, motorcycle insurance includes the following mandatory coverage for motorcycle riders:
Ontario Optional Motorcycle Insurance Coverage
Most motorcycle insurance policies include optional coverage to enhance your protection.
How Much Is Motorcycle Insurance in Ontario?
Motorcycle insurance costs in Ontario range from $1,500 to $3,500 annually, which amounts to about $125 to $292 per month. M2 license holders pay about $2,500 annually for insurance. The exact cost is highly personalized and depends on many factors, like demographics, location, driving record, and more.
How to Get Affordable Motorcycle Insurance in Ontario
While Ontario’s vehicle insurance rates are on the higher end of the spectrum, your premium depends on many factors, including which city you live in. While motorcycle rates may seem steep, Sharp Insurance uses its expertise and connections in the industry to get you affordable motorcycle insurance rates without slashing coverage.
Here are some tips to get more affordable motorcycle insurance rates:
- Don’t settle for the first quote you get from an insurance provider. Instead, compare quotes from different insurance companies to get the best deal.
- Bundle your motorcycle insurance with your home insurance coverage, as companies reward bundling with discounts up to 40-50%.
- Graduating from an approved M1 exit/safety course lowers your premium and makes your riding experience safer.
- Sport bikes, high-performance engines, and models prone to theft cost significantly more to insure. Opt for a touring or standard bike to help you secure a lower rate. Consider installing anti-lock brakes to prevent theft.
- Increase your deductible to decrease your premium, but make sure you are financially protected by savings to be able to pay that deductible anytime.
Motorcycle Insurance Cost by Bike Type
In Ontario, you could pay a different price for motorcycle insurance depending on your bike type. This table shows a breakdown of what you may expect from each motorcycle type.
| Bike Type | Insurance Cost Level | Why |
|---|---|---|
| Sport bike | High | It’s known to have a high speed, leading to higher claim risks. |
| Cruiser | Medium | It is often used by experienced riders. |
| Touring bike | Medium | Although they are larger, they are often ridden by lower-risk riders |
| Scooter / moped | Lower | It has a lower engine size and a lower speed |
| Dirt bike | Varies | Prices depend on road use vs off-road use |
Motorcycle Insurance by Licence Type in Ontario
Different licence types in Ontario result in different motorcycle insurance coverage. Each motorcycle licence type is for a different type of rider. M1 Licence is a learner’s permit for new drivers. After the rider passes the first road test, they receive an M2 licence, lifting many restrictions. As for the Full M Licence, it’s for more experienced riders who have passed the final road test; it’s the equivalent of graduating licensing.
The cost of motorcycle insurance by licence type:
| Licence Type | Cost |
|---|---|
| M1 motorcycle insurance | Due to the inexperience of M1 licence holders, rates are very high. M1 motorcycle insurance is the hardest to get in comparison to other licence types. |
| M2 motorcycle insurance | After acquiring this licence, the riders get a significant decrease in motorcycle insurance premiums. They also get course discounts. |
| Full M licence insurance | Full M licence holders are considered a lower-risk profile. They get better rate opportunities. |
What Determines your Motorcycle insurance Rate in Ontario?
The average price of motorcycle insurance in Ontario ranges from $1,500 to $3,000 per year. However, your insurance rate can fluctuate based on several factors which are all weighed differently between different providers. Those variables include:
- Demographics: Age, gender and marital status can influence how much you pay for insurance.
- Location: If you live in an area with high crime rates or a densely populated area, you’ll pay more for your insurance.
- Driving record: If you’ve been involved in numerous at-fault accidents, have plenty of speeding tickets, or have a conviction on your record, your rates will be higher. More experienced riders who have a clean riding history get better rates.
- Coverage limits: The more coverage you have, the higher your limits, the more you’ll pay.
- Condition of bike: The make, model and age of your bike can determine your premium amount. Typically, newer bikes in good condition may have lower premiums.
- Discounts: Any discount you may be eligible for will impact your rate. Discounts include loyalty, group and bundling two policies.
If you’re looking for a more accurate assessment of your premium, get a free, online motorcycle insurance quote today.
Motorcycle Insurance for New Riders in Ontario
New riders, specifically M1 licence holders, get some of the highest rates in motorcycle insurance because they’re inexperienced and have higher claim risks. After acquiring the M2 licence, things look up as rates get lower and motorcycle insurance coverage becomes easier to get. Still, the prices are high in comparison to full M licence holders.
How to Get Better Motorcycle Insurance Rates for New Riders
- Take a safety course: Many insurance providers offer up to 15% discounts if you have completed a certified course, such as those offered by the Motorcycle Safety Foundation (MSF). These courses show providers you have foundational skills and are proactively focused on safety.
- Choose the right motorcycle: Insurance companies base rates heavily on the make, model, and engine size. Beginner-friendly bikes with smaller engines or scooters are viewed as low-risk and cost significantly less to insure than high-performance sport bikes or cruisers with large engines.
- Store your bike in a safe space: Storing your bike out in the open puts it at risk of theft and vandalism. On the other hand, storing it in a secure garage keeps it safe, lowering claim risk and helping you get lower premiums.
Seasonal Motorcycle Insurance in Winter
In the cold Ontario winter, you may find it tempting to cancel your motorcycle insurance coverage because you rarely ride your motorcycle throughout the season. However, we don’t recommend canceling your policy altogether. Besides paying cancellation fees, insurers view gaps in insurance as a signal of high risk, which means they may increase your insurance premium when you try to get your bike insured in the summer. Moreover, leaving your stored bike without insurance means you will not get insurance coverage if it gets stolen or vandalized. The alternative to cancellation is seasonal motorcycle insurance.
What Is Seasonal Motorcycle Insurance?
If you only ride your bike during specific seasons, you may consider reducing coverage instead of cancelling your policy. Instead of getting coverage for accidents, you get covered for storage only. This adjustment is referred to as seasonal motorcycle insurance. While it provides less protection than comprehensive coverage, it still saves you money by avoiding paying for either full coverage or cancellation fees. Also, it helps you avoid having coverage gaps.
Ontario Motorcycle Insurance FAQs
Want to eliminate your research to get the lowest motorcycle insurance rate in Ontario? Our FAQ section helps you find the information on coverage options and rates you’ve been looking for. For a few insurance quotes to get you started, contact one of our knowledgeable brokers.
It depends. Some modifications you do to your motorcycle will not be covered by your insurance, no matter what. It’s always important to keep your Ontario motorcycle insurance broker and insurer updated on any modifications you make, or plan to make, on your bike to ensure you’re covered.
It can be daunting to buy motorcycle insurance in Ontario, which has the third-highest vehicle insurance rates in Canada.
Below are six tips to help save you money on your insurance policy and get you on the road care-free.
- Ask about eligible discounts.
- Reduce coverage in the colder months. Your broker will help you determine what coverage you should keep and what you can do without.
- Buy a bike with a high safety rating and moderate overall horsepower. Bikes with higher-than-average top speeds tend to have more expensive premiums.
- Drive safely. Keep your record clean.
- Take a defensive driving course.
- Work with a Sharp broker. Our brokers shop around to get you the best rates.
If your motorcycle is not being driven in the winter, then you can safely reduce your insurance coverage options. However, it is highly recommended you continue to maintain comprehensive coverage even on a bike that is not being used so it still has protection against weather damage, theft and vandalism.
If your moped or scooter is being operated on public roadways, you would get an insurance policy the same way you would for your motorcycle. Get a free online motorcycle insurance quote and include details about your moped or scooter in the form and how you use it daily. If you need additional help, our brokers work for you to get the best coverage and rates.
Assuming you are not using a dirt bike on public roads in Ontario, it’s not mandatory. However, even off-road vehicles can benefit from liability insurance, in the event you accidentally hurt someone or damage their property while operating your bike.
Getting your motorcycle license takes a few steps. You need to be 16 years of age to apply for your license. In addition, you’ll need an eye test and pass a written test and several road tests. There are three different types of motorcycle licenses you can get but all fall under the M class license.
For more information on motorcycle licensing, view this source: https://www.ontario.ca/page/get-motorcycle-licence
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How to Get a Quick Ontario Motorcycle Insurance Quote
We understand why Ontarians love their motorcycles. The freedom is simply unparalleled. At Sharp Insurance, we want nothing to get in the way of your freedom. Ontario motorcyclists trust Sharp to help them find the insurance solutions they need to ride hassle-free. Give us a call to discuss your insurance needs anytime.
Start with a free online motorcycle insurance quote in Ontario. Our brokers are waiting to help you find the best coverage options and rate for your motorcycle today.
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