Riding a motorcycle in Canada offers freedom and adventure, but it also comes with responsibilities, especially when it comes to insurance. Motorcycle insurance can be expensive, and costs often increase when you add extended coverage for extra protection.
Extended coverage typically includes additional benefits such as roadside assistance, accessory coverage, collision protection, and comprehensive coverage beyond the basic liability insurance required by law. For many riders, finding the cheapest motorcycle insurance companies with extended coverage in Canada is essential to keeping costs manageable without sacrificing security.
In this detailed guide, we review the 12 cheapest motorcycle insurance companies in Canada that offer affordable yet comprehensive extended coverage. We will also explain how motorcycle insurance works, what extended coverage includes, and how to reduce your premiums as a rider.
Why Motorcycle Insurance is Essential in Canada
Motorcycle insurance is required by law across Canada. It provides financial protection in case of accidents, theft, or damage to property.
What does standard motorcycle insurance cover?
A basic motorcycle insurance policy typically includes:
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Third-party liability: Covers damages you cause to others in an accident.
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Accident benefits: Pays for your medical expenses, rehabilitation, and lost income after an accident.
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Uninsured motorist coverage: Protects you if you're hit by an uninsured driver.
Why is extended coverage important?
While basic insurance is mandatory, extended coverage gives riders added peace of mind. It usually includes:
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Collision coverage: Pays for damage to your motorcycle after a crash.
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Comprehensive coverage: Protects against non-collision events like theft, fire, or vandalism.
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Accessory coverage: Covers helmets, riding gear, and custom parts.
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Roadside assistance: Provides towing and emergency help when stranded.
Extended coverage ensures that you are fully protected on the road, especially if you own a valuable motorcycle or ride long distances.
Factors That Affect Motorcycle Insurance Rates in Canada
Motorcycle insurance premiums vary widely depending on several factors:
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Your location: Rates differ by province and city because of traffic density and accident statistics.
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Type of motorcycle: Sport bikes and high-performance motorcycles usually cost more to insure.
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Your driving history: A clean driving record means lower premiums.
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Age and experience: Younger and inexperienced riders typically pay more.
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Annual mileage: The more you ride, the higher the risk, and the higher your premiums.
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Coverage options: Adding extended coverage will increase the cost but provides better protection.
Summary Table: Cheapest Motorcycle Insurance Companies with Extended Coverage in Canada
| Insurance Company | Average Annual Premium with Extended Coverage | Provinces Available | Key Features |
|---|---|---|---|
| Intact Insurance | $850–$1,400 | Nationwide | Customizable coverage, strong claims process |
| Aviva Canada | $900–$1,450 | Nationwide | Discounts for multiple policies |
| TD Insurance | $875–$1,400 | Nationwide | Digital management, roadside assistance options |
| Desjardins Insurance | $870–$1,350 | Nationwide | Telematics program for safer riders |
| Belairdirect | $800–$1,300 | Nationwide | Competitive rates and mobile app support |
| Economical Insurance | $850–$1,350 | Most provinces | Ideal for multi-vehicle households |
| Allstate Canada | $870–$1,400 | Nationwide | Good driver discounts, customizable extended plans |
| Sonnet Insurance | $830–$1,320 | Most provinces | Fully online and transparent quotes |
| Co-operators | $860–$1,380 | Nationwide | Excellent customer service and flexible plans |
| RBC Insurance | $890–$1,450 | Nationwide | Bundling discounts with RBC banking products |
| Wawanesa Insurance | $820–$1,300 | Most provinces | Highly rated for claims satisfaction |
| CAA Insurance | $800–$1,280 | Ontario, Manitoba, etc. | Member discounts and roadside assistance included |
Detailed Reviews of the Cheapest Motorcycle Insurance Companies in Canada
Intact Insurance
Intact Insurance is one of the largest providers in Canada and is well-known for its flexible coverage options.
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Why choose Intact? Intact allows riders to tailor their extended coverage with options for collision, comprehensive, and accessory protection.
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Best for: Riders who want nationwide availability and a trusted claims process.
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Average annual premium: $850–$1,400 with extended coverage.
Aviva Canada
Aviva offers competitive motorcycle insurance rates with excellent multi-policy discounts.
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Key benefits: Customizable extended coverage plans and discounts for insuring multiple vehicles.
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Best for: Families or riders who want to bundle their motorcycle policy with home or auto insurance.
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Average annual premium: $900–$1,450.
TD Insurance
TD Insurance is popular for its user-friendly digital tools and strong extended coverage options.
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Why choose TD? Offers roadside assistance, accident forgiveness, and extended protection for riding gear.
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Best for: Tech-savvy riders who prefer online policy management.
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Average annual premium: $875–$1,400.
Desjardins Insurance
Desjardins stands out with its Ajusto telematics program that rewards safe riders with lower premiums.
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Extended coverage options: Collision, comprehensive, and accessory coverage for customized motorcycles.
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Best for: Riders who want usage-based discounts.
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Average annual premium: $870–$1,350.
Belairdirect
Belairdirect offers some of the most affordable premiums for motorcycles with extended coverage.
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Why it’s great: A simple mobile app for policy management and excellent member benefits.
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Best for: Riders who want low-cost insurance without sacrificing quality.
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Average annual premium: $800–$1,300.
Economical Insurance
Economical Insurance is well-regarded for its personal customer service and affordability.
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Extended coverage benefits: Includes collision protection, comprehensive coverage, and optional roadside assistance.
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Best for: Households with multiple vehicles looking for bundled savings.
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Average annual premium: $850–$1,350.
Allstate Canada
Allstate is a trusted brand offering competitive motorcycle insurance policies.
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Why choose Allstate? Excellent claims service, customizable extended coverage, and safe driver discounts.
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Best for: Riders seeking strong customer support and personalized advice.
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Average annual premium: $870–$1,400.
Sonnet Insurance
Sonnet is a fully online insurer that offers quick quotes and transparent policies.
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Key features: Extended coverage includes theft protection, collision, and roadside assistance.
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Best for: Riders who prefer managing everything online.
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Average annual premium: $830–$1,320.
Co-operators
Co-operators is a community-focused insurer with flexible extended coverage options.
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Why choose Co-operators? Strong emphasis on customer service and tailored policies.
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Best for: Riders who want a personal relationship with their insurer.
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Average annual premium: $860–$1,380.
RBC Insurance
RBC Insurance is backed by the Royal Bank of Canada and offers premium motorcycle coverage options.
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Extended coverage benefits: Includes custom parts coverage, collision, and comprehensive plans.
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Best for: Riders who want the security of a large financial institution.
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Average annual premium: $890–$1,450.
Wawanesa Insurance
Wawanesa is one of the top-rated insurance companies in Canada for customer satisfaction.
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Why it’s great: Affordable extended coverage and personalized service through brokers.
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Best for: Riders who value strong claims support.
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Average annual premium: $820–$1,300.
CAA Insurance
CAA Insurance is known for its member benefits and comprehensive roadside assistance services.
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Extended coverage options: Includes coverage for riding gear, custom parts, and travel interruption.
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Best for: CAA members looking for additional savings and benefits.
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Average annual premium: $800–$1,280.
Tips to Lower Motorcycle Insurance Premiums in Canada
Even with extended coverage, you can lower your premiums by following these tips:
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Bundle policies: Combine your motorcycle insurance with home or auto policies.
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Take a motorcycle safety course: Many insurers offer discounts to riders who complete training programs.
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Maintain a clean record: Avoid accidents and traffic violations.
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Install anti-theft devices: Alarm systems and GPS trackers can reduce theft risk.
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Adjust your deductible: Higher deductibles reduce your premium, but increase out-of-pocket costs in a claim.
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Shop around: Compare quotes from at least three insurers every renewal period.
FAQs: Motorcycle Insurance with Extended Coverage in Canada
1. What is extended coverage in motorcycle insurance?
Extended coverage includes protections beyond basic liability, such as collision, comprehensive, accessory coverage, and roadside assistance.
2. Is extended coverage worth it for older motorcycles?
Yes, especially if your motorcycle has significant value or custom parts. Comprehensive coverage also protects against theft and vandalism.
3. Which motorcycle insurance company is the cheapest in Canada?
CAA and Belairdirect often offer the lowest rates, but costs vary by province and rider profile.
4. Can I ride my motorcycle without extended coverage?
Yes, but you may face significant out-of-pocket expenses if your motorcycle is damaged or stolen.
5. Are sport bikes more expensive to insure?
Yes, because they have higher performance capabilities and are more prone to theft.
6. Does my province affect my motorcycle insurance rates?
Absolutely. Provinces like Ontario and British Columbia generally have higher premiums.
7. Can I suspend my motorcycle insurance during winter?
Some insurers allow seasonal policies, which reduce costs when you’re not riding.
8. Does extended coverage include gear and accessories?
Yes, most policies cover helmets, jackets, and other riding accessories up to a limit.
9. Can I get discounts for being a member of a motorcycle club?
Some insurers offer group discounts through recognized clubs.
10. How can I quickly get a quote for motorcycle insurance?
Many insurers, like Sonnet and TD, offer instant online quotes for riders.
Conclusion
Finding the cheapest motorcycle insurance companies with extended coverage in Canada doesn’t mean compromising on quality. Companies like CAA Insurance, Belairdirect, Wawanesa, and Intact Insurance offer affordable policies that include collision, comprehensive, and accessory protection.
Before purchasing a policy:
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Compare multiple quotes tailored to your riding profile.
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Evaluate which extended coverage options are most important to you.
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Look for available discounts through bundles, training courses, or safe riding programs.
By taking these steps, you can save money while enjoying peace of mind on the open road.