M1 insurance costs explained


Down payment

Down payment

If you choose to make monthly payments, you’ll pay the equivalent of two months as a down payment when you purchase your M1 policy.

Monthly payment

Monthly payments

Insurance companies sometimes experience billing delays during peak riding season. This may result in them starting your payment schedule later than expected, and then withdrawing multiple monthly payments at once.


Cancelling after the riding season

Although payments may be spread out over the year, most of your annual premium is charged during the prime riding months. You can cancel your policy when the season ends, but you’re unlikely to save any money. Learn more here.

M2 licence

Shopping cart

How does the price differ from M1?

Once you have your M2 licence you’ll have more insurance options. We’ll do the shopping to find you the best coverages and prices available.


Cancelling your policy

If you decide to end your policy before renewal, you’ll be charged for “time on risk” and may still owe money depending on when you choose to cancel during the calendar year.

Rider training certificate

Rider training

When you get your M2 licence, consider taking an approved rider training course. It’ll boost your skills, confidence and safety and could lead to insurance savings too. Learn more here.

Riders under 25


How much does insurance cost?

Motorcycle insurance for riders under 25 can be very expensive. Learn more about insurance prices for riders based on age and CCs.


How can I save money?

While age is a major factor when it comes to motorcycle insurance, the type of bike you ride can also have a huge impact. Choosing a bike with lower CCs can substantially reduce your premium.

25 years

What we recommend

If you can, we recommend waiting until you turn 25 to start riding. If you can’t, let us know when you get your M2 so we can shop to get you better rates upon your renewal.

Good to know: Common questions about motorcycle insurance in Ontario

Here’s the average cost of basic insurance on a bike between 401 – 750 CCs:

Age 16 – 20 $10,621.00/yr or 897.00/mth
Age 21 – 24 $8066.00/yr or $681.00/mth
Age 25+ – $5463.00/yr or $462.00/mth

Learn more about the cost of other motorcycle sizes with an M1 license. Keep in mind that your personal rate is determined by more than just motorcycle size and age, and your premium may be different than the examples above.

You can get an online quote for M1 insurance in minutes here.

You can, but likely won’t save any money. Insurance companies know that Canada has a short riding season. Even though your annual premium might be split into 12 equal payments for convenience, you’re actually charged the full amount between March and October.

You can use our motorcycle cancellation calculator to check how much it will cost to cancel your motorcycle insurance.

In most cases, you can get a new policy with another insurance company for a cheaper price when it’s time to renew. Keep in mind that if you cancel your current policy before renewal, you will be charged for “time on risk”, and may still owe money depending on the time of year your policy was in place. You can use our motorcycle cancellation calculator to check how much it will cost to cancel your current policy.

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