Before you hit the open road this season, it’s important to make sure that you have Ontario motorcycle insurance. We’ve outlined everything you need to know about motorcycle insurance in Ontario. Even if you drive a moped, motor scooter, or motor-assisted bicycle, this information is still relevant.
Similar to car insurance, motorcycle insurance is legally required in Canada to protect riders. In order to ride a motorcycle in Ontario, you must have a valid M1, M2, M class license, be at least 16 years of age, and have the proper insurance coverage. There are mandatory minimums that all motorcycle riders must get as part of their insurance policy.
Motorcycle insurance policies in general have a lot of the same coverages as other auto insurance policies in Ontario. In order to operate a motorcycle legally, you will need third-party liability, direct compensation, uninsured automobile, and accident benefits coverages. There are also optional coverages you can add to your motorcycle policy.
There are different types of motorcycle insurance coverages; mandatory and optional. Mandatory motorcycle insurance, as expected, is the type of insurance that you are required to have, by law. Optional coverages can compensate you for the cost of replacing or repairing your motorcycle following theft, at-fault collisions, or non-collision-related damages.
Here are some typical motorcycle insurance exclusions:
The average price of motorcycle insurance in Ontario ranges from $1,500 to $3,500 a year. Like your other auto insurance policy, there are several factors that are considered when determining the cost of motorcycle insurance in Ontario. Some factors include:
Similar to car insurance, maintaining a good driving record with no violations will help to keep your insurance premium costs down. Additionally, some insurance companies offer driver discounts to save money on your motorcycle insurance policy. There are variations between companies, but offerings often include:
Being considered a high-risk driver will increase the cost of your motorcycle insurance. Drivers who are considered high-risk pose more of a risk than the average rider in Ontario. An insurance company will look at your driving history to see the number of insurance claims you’ve made, accidents or collisions, traffic tickets, and your license level and age. For example, a driver under the age of 25 is generally seen as more of a risk because they likely don’t have a lot of on-road experience. There is an option to purchase high-risk motorcycle coverage for motorcycle owners that are seen as more of a risk than the average motorist. Your Ontario insurance broker can assist you in determining if this coverage is right for you.
The location of your motorcycle and where you drive it are taken into consideration when calculating your insurance premium. Typically, your Ontario insurance broker will account for the several months of snow Ontario has in a year. Each motorcycle policy is written on a 1-year basis, however, some companies will allow you to pay throughout the entire year, rather than just the riding season.
With the arrival of spring, many motorcyclists are getting ready for their first motorcycle ride of the season. Before heading out for the season, we recommend refreshing yourself with some important spring maintenance checks and hand signals.
Contact your Ontario insurance broker today to ensure you are properly covered under your motorcycle insurance policy.