Factors determining the premium rate of motorcycle insurance in Ontario

By March 15, 2017Blog

It is true that motorcycle insurance is less competitive than car insurance. However, still, the insurance premium for motorcycle insurance in Ontario varies from one company to another. For the same reason, you must look around and opt for the best deal you can get. The wisest thing to do is to get the help of an online specialist so that you can enjoy the lowest rates of motorcycle insurance in Ontario. The amount that you need to pay towards your insurance premium is calculated based on certain important factors, which are mentioned below:


The age of the motorcycle owner is one of the main factors of insurance amount. The lesser the age, the higher would be the premium amount and vice versa. People below 30 years of age with limited riding experience generally have to pay more.

Size of the Motorcycle’s Engine

The insurance amount also depends on the size of the engine of your motorcycle. The higher the CC rating, the more you need to pay. Thus, if you are tight on budget for paying insurance amount, opt for a motorcycle with lesser CC rating. Or alternatively, you can check with a specialist motorcycle broker and have a word with him to check whether he can offer you an exceptional deal.

Measure You Take to Keep Your Vehicle Safe

The insurance service provider would also check the amount of trouble you take to keep your bike safe. For instance, if you leave your bike parked on the side of the road when you go to work or college, you would need to pay extra. However, if you keep your bike in a properly maintained parking lot where the chance of having your bike stolen is minimal, then you would have to pay less premium amount.


The insurance rate would also depend on the usage of your bike. The lesser you use the bike, the lesser would be the premium amount you shall have to pay and vice versa.

Mode of Payment

A person can pay his insurance premium monthly, quarterly or yearly. He would have to pay more if he goes for the monthly plan whereas if he opts to pay on a yearly basis, the premium amount would be much lesser. This is because the insurance company levies interest rate when somebody pays on a monthly basis.

Was this information helpful?