How much is motorcycle insurance in Ontario for M1/M2?

Are you thinking about getting a motorcycle in Ontario? Or maybe you already bought one? If so, you'll need to get Ontario motorcycle insurance. Whether you plan to ride your motorcycle seasonally or all year round, it's the law to have motorcycle insurance coverage. But what if you're still new to riding? Will insurance be higher or lower for you if you only have your M1 or M2? Let's find out.

The cost of motorcycle insurance in Ontario for M1 and M2 licences

If you’re planning to ride a motorcycle in Ontario, you'll need:

• A valid motorcycle licence
• To be of legal age
• To have motorcycle insurance

So how much will your motorcycle insurance be? Here's the thing—the newer your licence, the higher your motorcycle insurance premium might be. For instance, if you’ve got an M2 license instead of a full M license, don’t be surprised if your premiums are on the higher side.

If you’ve got an M2 licence in Ontario, you could be looking at an average motorcycle insurance rate of around $2,500 a year. And if you only have your M1, your rates will likely be even higher. Insurance rates also depend on a few other factors, including:

• Your riding history
• How long you’ve had your M1 or M2 licence
• Your gender and age
• Where in Ontario you live
• Your motorcycle’s year, make, and model

So, when it comes to how much Ontario motorcycle insurance costs, the best way to answer that is to get a quote. For an accurate motorcycle insurance quote that meets your specific needs, apply for several quotes from multiple motorcycle insurance companies to find the best one for you. You can also work with a motorcycle insurance broker, like BrokerLink, who can save you time and money by doing the insurance shopping for you.

What does motorcycle insurance cover?

In Ontario, motorcycle insurance isn’t optional—it’s the law, just like car insurance. Since a motorcycle is considered a motorized vehicle, riding without insurance can land you in serious trouble with some hefty penalties.

Before you buy a motorcycle, it’s important to understand what kind of insurance coverage you’ll need for your motorcycle insurance policy. The requirements can vary depending on your province and whether you’re buying, leasing, or financing your bike. That said, there are four main types of coverage that are typically mandatory across Canada:

Third-party liability coverage

Liability insurance —also called third-party liability coverage —is a must-have for all motorcycle riders in Canada. It kicks in if you’re at fault in an accident. For example, let’s say you accidentally hit a car while making a turn. Your liability coverage can help cover legal fees, medical bills, and repair costs related to the accident. The amount of coverage you need depends on your province, but every rider is required to have at least a minimum level of this protection.

Accident benefits coverage

Accident benefits coverage is another must-have for motorcycle riders. This part of your insurance kicks in if there’s an accident that causes injuries—whether it’s to you, a passenger, a pedestrian, or another driver. For instance, if someone gets hurt and needs medical care, this coverage helps take care of those costs. It’s a key part of your protection on the road.

Uninsured motorist coverage

Uninsured automobile coverage is another must-have in your motorcycle insurance. It’s there to protect you in cases of hit-and-runs or accidents involving drivers who are uninsured, underinsured, or can’t be identified.

Direct compensation-property damage (DCPD) coverage

Direct compensation-property damage coverage is there to help cover the repair costs if your motorcycle gets damaged in an accident. The best part? You usually get the payout directly from your insurance company, making the process quicker and easier. While riders can now opt out of DCPD coverage if they choose to, it may still be required if you are leasing or financing your motorcycle.

Optional insurance coverage for motorcycle riders

In addition to the mandatory coverages, there are plenty of optional insurance options for motorcycle riders. These extras can offer added peace of mind and protection. Check out the four popular types of optional motorcycle insurance coverage below to see how they can benefit you:

Collision insurance

Collision coverage can be a lifesaver if you crash your motorcycle into another vehicle or stationary object, like a guardrail, pole, or tree. This optional coverage helps pay for repairs, which can add up fast depending on the damage. If your bike is leased or financed, your lender might even require you to have a certain amount of collision coverage.

Comprehensive insurance

Comprehensive coverage is your go-to for protecting your motorcycle when it’s parked. Whether it’s stolen overnight or a tree branch falls on it in your driveway, this coverage has you covered. The specific risks depend on the perils you choose to include in your policy—common ones are theft, vandalism, falling objects, windstorms, water damage, and fire. Want the most protection? Opt for all-perils coverage. Keep in mind that if you’re leasing or financing your bike, comprehensive coverage might be a requirement.

Accident forgiveness coverage

Another popular add-on for motorcycle insurance is accident forgiveness coverage. This optional endorsement can help protect your driving record and prevent your premiums from going up after an at-fault accident. It’s a great way to keep your insurance costs steady even if things go wrong. Just keep in mind that the availability and rules for this coverage vary by province.

Loss of use coverage

Loss of use coverage is another handy option for motorcycle riders. If your bike gets damaged and needs repairs, this coverage helps cover the cost of temporary transportation while it’s in the shop—which could take days or even weeks. Whether you choose to rent a car, take public transit, or use a rideshare service, loss-of-use coverage ensures you’re not stuck without a way to get around while waiting for your motorcycle to be fixed.

How to get cheap motorcycle insurance with an M1 or M2 licence

We get it—motorcycle insurance for riders with an M1 or M2 licence can be pricey. That’s why we’re here to help you save! At BrokerLink, we want to share some of our best tips for cutting your motorcycle insurance costs. You might be surprised at how many strategies are out there to help lower your premium. Keep reading to learn how you can score more affordable motorcycle insurance, even if you’re working with a tight budget:

Enrol in a motorcycle safety course

Taking a motorcycle safety course is a smart move—not only does it help sharpen your riding skills, but it can also save you money on insurance. Much like a driver’s education program, completing a motorcycle safety course in your province can make you eligible for a discount. Just provide proof of completion, and you can see those savings on your policy!

Use a telematics device

Just like car drivers, motorcycle riders can use telematics devices to save on insurance. Why should you consider it? For the discounts! When you're new to riding, you have no riding experience to show to your insurance company. This means you'll automatically get higher rates because they don't know if you're a safe rider or not. By installing a device on your bike or using a mobile app on your smartphone, you could score a lower rate on your motorcycle insurance by proving to them that you're a safe rider.

Bundle your insurance policies

Did you know bundling your motorcycle insurance with other policies can save you money? It’s a great way to lower costs if you need multiple types of insurance. Many providers let you mix and match so that you can combine your motorcycle insurance with auto insurance or even home insurance. Reach out to BrokerLink to see which providers offer bundling options for motorcycle insurance—it’s an easy way to keep your premiums in check!

Work with a motorcycle insurance specialist at BrokerLink

When it comes to navigating the world of motorcycle insurance, having an expert on your side can make all the difference—and that’s where BrokerLink comes in. Our licensed motorcycle insurance specialists are here to help you find quality coverage at a price that works for you. We make shopping for insurance simple and hassle-free, and we’ll do our best to stay within your budget—or even beat it. Reach out to BrokerLink today and let us help you save on your motorcycle insurance!

Get your free motorcycle insurance quote from BrokerLink today!

Are you curious about how much motorcycle insurance will cost you? Reach out to BrokerLink for a free, no-obligation quote! We provide accurate estimates for riders across Canada, giving you a clear answer to the question, “How much is motorcycle insurance in Ontario for an M1 or M2 licence?” Getting a quote is the easiest way to find out what you can expect.

You can reach us by phone, email, or in person at any one of our locations throughout Ontario. We also encourage you to take advantage of our free online quote tool that can provide you with a competitive quote in minutes. No matter how you choose to get in touch, a BrokerLink insurance advisor will be happy to assist you with your motorcycle insurance policy and even offer you some tips from our motorcycle riding safety guide.

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FAQs about motorcycle insurance in Ontario

Do I need seasonal motorcycle insurance in Ontario?

No, most motorcycle insurance policies in Ontario are already set up for seasonal use. Insurers know you’re probably not riding during the winter months, so your policy takes that into account. While motorcycle policies are written for a full year, some insurers let you spread out your payments over the entire year instead of just the riding season.

Can I get motorcycle insurance with an M1 licence in Ontario?

Yes, you can get motorcycle insurance in Ontario with an M1 licence, but there are a few things to keep in mind. M1 riders often face higher premiums, fewer coverage options, and might need to complete additional training or a motorcycle safety course to qualify for full coverage. It's best to speak with your insurance provider to find out if there are any requirements or restrictions on your insurance with an M1 licence.

What is the minimum insurance for a motorcycle in Ontario?

The minimum required motorcycle insurance coverage in Ontario includes $200,000 in third-party liability coverage, accident benefits coverage, and uninsured automobile coverage. However, it's important to consider optional coverages like direct compensation, property damage, collision, and comprehensive coverage, as they can be extremely beneficial if you ever need to file a claim.

How long does an accident affect insurance rates in Ontario?

Your driving record can have a big impact on your car insurance rates. While insurance companies don’t always have access to your full driving history, they can check a driving abstract, which covers the past three years. This includes things like tickets, accidents, claims, convictions, and even completed driver’s education courses.

 

 

If you have any questions, contact one of our local branches.