1. Motorcycle type: Insurance rates tend to be higher for faster and more powerful motorcycles, such as sport bikes.
2. Riding experience: As a new and inexperienced rider, you will be considered a higher insurance risk. Taking a motorcycle safety course and completing the Motorcycle Safety Course (MSC) can help reduce your insurance costs.
3. Location: Insurance rates can vary depending on the region you reside in, as well as the traffic and accident statistics for that area.
4. Coverage level: The cost of motorcycle insurance is determined based on the level of coverage you choose. Opting for comprehensive coverage, which includes protection against theft and collision, will result in higher premiums. Third-party liability coverage, which provides basic legal liability protection, may be more affordable.
5. Previous driving or riding history. If you have a good driving record and no previous accidents or speeding tickets, this can positively affect your insurance rates.
6. Discounts and promotions: Some insurance providers offer discounts or promotions for young riders who maintain a good academic record, complete a defensive driving course, or install safety features on their motorcycle.
7. Gender: In Ontario, gender is not considered a relevant factor in determining insurance rates.
Given the combination of being a young and inexperienced rider on a potentially fast motorcycle, you can expect insurance rates to be higher compared to an older and more experienced rider. It is advisable to compare quotes from multiple providers to find the most competitive rates.
