How Much Does Motorcycle Insurance Typically Cost?

Safety on the road is very uncertain, so even if you do everything right, you might still get into an accident. Sometimes the other driver is to blame, and sometimes it’s just bad luck. But this doesn’t make a serious crash any less dangerous for the bike and the rider. And that’s why it’s essential to get motorcycle insurance from a reputable company like Surex.

Buying just the minimum coverage the government requires might not be enough. So, before purchasing insurance, it’s wise to look at the plans that are out there. It will allow you to plan your health coverage and keep you from paying for coverages you don’t need. To assist you with that, let’s talk about how much motorcycle insurance costs on average.

How Much Does Average Motorcycle Insurance Cost?

In Canada, each province has laws requiring riders to have at least $200,000 in liability insurance. But riders should at least get enough insurance to cover the cost of a new bike if theirs gets stolen or damaged. If you’re talking about how much it costs yearly, the average cost of motorbike insurance in Canada is $700 per year.

But the exact value depends greatly on where you live, how old you are, your driving record, and other things. For instance, if you live in Ontario, your motorcycle insurance will be more expensive than in one of Canada’s other provinces. This is because accidents happen more often in Ontario than in any other province. So, insurance policies in Ontario cost a lot more than any other province in Canada.

How the model of the motorcycle affects the insurance rates

When figuring out your insurance rates, your insurance company will look at everything that could be dangerous for you or your car. So, the model of your bike will have a significant effect on how much you pay for insurance.

Here are some things that affect insurance rates:

The expense of the bike

If you have a pricey bike, it will cost a lot more to fix than a regular bike. The insurance company determines your premiums based on how much it would cost to fix your bike in an accident. Also, expensive bikes are often made in small numbers. So, if there is a severe crash, it will cost a lot more to replace a whole part.

Safety Feature

The way a bike is made has a significant effect on how safe it is for the rider. This, in turn, changes the price of your insurance. Bikes with more security features, like tension control and anti-lock brakes, should be safer than those without these features. This cuts down on accidents and the risk that the insurance company has to take on.

Crash Rates

The crash rate, in this case, means how many bikes with the same model as yours have been in an accident in a certain amount of time. Even though it’s not your fault, and it might seem unfair, your insurance rates will go up if that bike model has more accidents that year. This is because the number of crashes makes it more likely that you will file a claim. You are seen as a high-risk party because of this.

Theft Rate

Comprehensive assurance also covers you if your automobile is stolen. So, if you have a popular and expensive bike, it’s more likely that a thief will try to steal it. This will make your insurance company take on more risk, which will cause your rates to go up. Most of the time, the most expensive insurance for sports bikes and superbikes. They meet almost every one of the points above.

It costs less to insure a touring bike than a sports bike. And when it comes to insurance, cruisers are the least expensive. Also, for bikes, the model has a more significant effect on insurance rates than the CC of the engine. So if you have a sports bike with a 750 cc engine and a touring bike with a 1000 cc engine, the sports bike will still cost more to insure.

Other factors that affect the cost of motorcycle insurance

Aside from the bike you have, several other things affect how much you pay for insurance. Here is a list of the other things that will be taken into account when figuring out how much your insurance will cost:


Younger people have less time behind the wheel. They are also known to drive in dangerous ways, which makes them a high-risk group. So, people between 18 and 25 have to pay higher premiums than those over 25.


In some parts of Canada, women are thought to be better drivers than men. Men are supposed to be more likely to drive too quickly, which can cause accidents. So, men have to pay slightly more than women for their premiums.

Driving Record

Your record as a driver is a significant factor in how much your premium will be. If you have had a lot of accidents or broken traffic laws in the past, you will be seen as a high-risk driver. This will show that you are more likely to file a claim, which will make the insurance company take on more risk. Subsequently, your insurance premium rates rise.

Credit Score

A good credit score shows you know how to handle your money and pay your bills on time. This makes the insurance company more likely to believe that you will pay your premiums on time. This lowers their risk, so they’ll give you cheaper insurance in return.


Costs for car insurance depend on how much risk your company is willing to take. The higher the premiums, the greater the risk. So, if you want to lower the cost, ensure you don’t do anything to make them think you’re a high-risk party. Also, compare quotes online before deciding on an insurance company to get the best deal.