Is motorcycle insurance expensive?

By Judith Pila | Last updated: October 5, 2020

Is motorcycle insurance expensive? On average, is motorcycle insurance more or less expensive than automobile insurance?

Motorcycle Insurance is insurance you purchase to provide coverage to your motorcycle in the event of a loss, loss that could be from theft of the motorcycle, or accidental damage.

A person might be lucky to come across a motorcycle that is so cheap that they might consider riding the motorcycle without insurance, since they would not really feel the financial impact of its loss. However, motorcycle owners are required by law to have liability coverage in order to operate a motorcycle on the road, so, regardless of the cost of a motorcycle, the most basic coverage is required and you do not want to be caught breaking the law.

As to whether or not motorcycle insurance is expensive depends on a number of factors insurance companies use to determine motorcycle rates, example of those factors are:

  • Type of motorcycle
  • Riding history.
  • Coverages you choose.
  • The company you are insuring with.
  • Your age.
  • The area you live in.
  • Motorcycle license.

For example, someone with a good riding history and who has motorcycle license with an older motorcycle and decides to go with liability coverage only, might pay a significantly lower premium compared to someone without a motorcycle license, no riding history, a newer motorcycle and wanting full coverage.

The best ways to lower the cost of your motorcycle insurance is to:

  • Get a motorcycle license.
  • Consider a used or an older motorcycle.
  • Consider lower coverages.
  • Compare quotes from different companies.

Generally, motorcycle insurance is affordable.

Just like motorcycle insurance, automobile insurance provides coverage to an automobile in the event of a loss. Motorcycle insurance and automobile insurance have similar coverages, insurance companies also use similar factors to determine how much a person would pay for motorcycle insurance and automobile insurance.

The simple answer to this questions is, yes, on average, motorcycle insurance is less expensive than automobile insurance.

Share this Q&A

  • Facebook
  • LinkedIn
  • Twitter


Personal Lines Motorcycle Insurance

Written by Judith Pila

Profile Picture of Judith Pila

Judith is an Account Manager with an insurance brokerage in Edmonton. She is also involved with the Insurance Institute of Canada as a Career Connections Ambassador.

She holds a diploma in Insurance and a Bachelors Degree in Business Administration from Ahmadu Bello University, Zaria - Nigeria.

Edmonton Insurance Association Member 2019 - Present

IBAA Member 2015 - Present

More Q&As from our experts

Related Articles

Term of the Day

Tenants Legal Liability Coverage

Tenant's legal liability coverage is insurance for loss or damage of a property resulting from an action of a person...
Read Full Term

Subscribe To the Insuranceopedia Newsletter!

Do you want to stay on top of New Terms, New Products, Free Software, and Specials? Join one of our email newsletters. It's fast and easy. You will be among the first to know about hot new insurance related articles, goodies and great deals - it will only take seconds!

Go back to top