Motorcycle Insurance
Just got back from my friendly ICBC insurance broker, where I went to get BC insurance on my motorcycle.
I drive it a few times a month – and have owned it for 10 years. I’ve had my motorcycle license for 26 years, and have had no accidents or tickets (in the past 10 years).
Knowing BC insurance rates are ridiculous, I opted for liability only (the minimum required). After all, how much damage can I do with a motorbike?
The rate for 1 year- $1,200!?!
I can drop it for those winter months you don’t normally use the bike to save money… the rate goes up to $120/month.
So, as I can’t drive my car and motorbike at the same time, you’d think they’d give me a break. No such luck.
For a comparison of how far out of wack ICBC is, hop over to a national insurer in the US. Use an American zip code (try 33333 – Florida).
I was paying $150 per year with Progressive Insurance.
It’s time BC residents start asking questions of ICBC, and why a monopoly would overcharge by so much. The idea is that by “allowing” the government a monopoly, we get lower rates that we could with free enterprise competition.
Something is terribly wrong.
I think it has do do with engine size, and as I have a bike that’s over 1000 cc’s, they charge me a lot more. Unfortunately, motor size in inversely proportional to risk. Anyone with a 1000-1600 cc motor most likely older, and has years of driving experience =less risk.
Makes no sense, but ICBC is a monopoly and there is no reasoning with these bureaucrats.
Not sure what it takes to get BC residents to revolt against this monopoly and allow free enterprise into the province. It’s time ICBC was sold off or shut down.
photo credit: WorldWideMotorcycles
May 18th, 2009 at 3:41 pm
Can you explain a bit more about how to do that? I am about to buy a motorcycle here (just moved here) and would LOVE to only pay $150/yr to insure my bike. I’m looking at getting a used, 2004 Honda Shadow 750 or maybe a V-Star.
Thanks for the help!
August 6th, 2009 at 11:04 pm
ICBC is such a monopoly, stupid rates on vehicle insurance is a fact. But they need that money to pay all the burocreacy of the “Hard working people” at ICBC. In Mexico I paid 3000 us dlls for my BMW F800, yes, 3000 us for a 4 year period, full coverage. When I compare the rates to ICBC, all I can say, it is totally ridiculous. Why BC people is accepting this???? Or only millonaires can afford to ride a bike?
September 26th, 2009 at 12:31 pm
ICBC motorcycle rates are high because the government believes motorcyclists should be responsible for bearing the costs of motorcycle accidents, regardless of fault.
In the U.S., third party motorcycle liability insurance covers what the operator might do to a third party; in the case of ICBC motorcycle insurance, the reverse is true: it covers what a third party might do to the operator.
Further aggravating matters is that ICBC rating doesn’t take into consideration the two most important factors in motorycle risk, age and performance. Instead, they use the dated yardstick of engine displacement, with 1100cc and above being considered extreme risk. So it comes to be that young male riders 16-25 who, by ICBC’s own statistics, have an accident rate 14 times riders as a whole, pay some of the lowest rates because they favor high-performance sport bikes with small-displacement, high-output engines, while middle-aged folks who overwhelmingly choose sedate cruiser and touring machines are heavily penalized.
January 18th, 2010 at 12:46 am
I have a question guys, i will be moving soon to vancouver and i have considered buying a used motorcycle to move from the house to langara college. I like sport bikes from 600 cc to 1000 cc. My question is, is it mandatory the insurance? if so, how much would i have to pay?
Will it be cheaper to buy a used car instead? how much the insurance for a car is?.
Best regards,
Michael.
Hi Michael,
We are blessed with government insurance. You’d think that with 100% of the market, it would be affordable. It isn’t. Unless you don’t want to carry collision, and can prove 8 years of a perfect driving record, expect to pay the price of a used Civic each year.
Motorcycles are worse… they charge by engine size, which is contrary to how good a driver is. Look at $1,200/year for liability.
And like everywhere else, it is mandatory.
Welcome to BC.
February 19th, 2010 at 4:29 am
Hi
Any other insurance company beside ICBC where one could get better rates??
Thanks
April 22nd, 2010 at 12:45 pm
Hey Frank,
You must do your basic (I think it’s called liability) through ICBC. There’s no other way around it but for 3rd party and comp, go private. I went with Megson Fitzpatick.
June 18th, 2010 at 9:19 am
Hello all,
I would also like to express my anger with ICBC and their ridiculous rates. Last year I purchased my first bike (a Ninja 250) and only got basic coverage with fire and theft coverage. This cost me $1200, insanely expensive, to get collision was an extra $1000! While I understand that while the rates would be high, what I don’t understand is why it is so expensive for insurance on the lowest bracket of insurance. Another example of how monopoly’s are never beneficial for the market.
August 13th, 2010 at 8:55 pm
I agree, I think ICBS um ICBC motorcycle insurance is a total ripoff/money grab. I spoke with a friend in Calgary, Alberta. He recently insured a motorbike for $249 per year, and he doesn’t even have his bike license yet!
About 9 yrs ago, when I lived in Calgary it was about $170/yr with a class 6, and $230 if you just had a class 5. So motorbike insurance hasn’t gone up much in Alberta. (All prices are just for basic liability; no theft or collision.)
As far as I know, the only way to get reasonable bike insurance in BC is to get a 25yr old or older bike, and apply for collector plates. But you must have another vehicle insured as your primary vehicle, and you cannot use the bike to/from work/school. Then I believe it’s $157/yr with ICBC. So why is there such a HUGE difference?
I would like to ride a bike again, but with bike insurance costing more than my car insurance, I’m not sure if it’s worth it. If I was living in Alberta, I wouldn’t think twice about it.
August 24th, 2010 at 9:34 pm
I have a 1979 Honda CM400T, a 43hp bike, and basic insurance (with additional $1,000,000 liability) is $326 a year. That seems fair to me. I also have a Yamaha TW200 dual-purpose bike that insures for $227 a year. Again, that strikes me as fair. As well, the CM400 is eligible for collector plates, which would result in an even lower rate (about $200 a year). I remember the so-called “good old days” before ICBC, when a young guy could buy a decent used car for $400, but the insurance would also be $400, which is about $4,000 by today’s standards. ICBC gives younger drivers and riders lower premiums than in other provinces by having oldsters like me contribute a little more to the pot. That also seems fair.
September 1st, 2010 at 8:09 am
The results of this high cost for insurance are clearly seen in the number motorcycles on the road without insurance. Now even a huge increase in riders who have not gotten their class 6 to ride.
October 31st, 2010 at 1:21 pm
@Lefty ” ICBC gives younger drivers and riders lower premiums than in other provinces by having oldsters like me contribute a little more to the pot. That also seems fair.”
How exactly is that fair? The ‘oldsters’ – at least the ones who have chosen to drive safely and have proven themselves – have EARNED the right to a rate that reflects their lower risk. If you have a bleeding heart for the inexperienced drivers who are still in the process of proving their lower risk then you may subsidize their insurance premiums YOURSELF. Go ahead, cut your grandson a cheque for $1000. But don’t be thinking it’s ok to force that wealth transfer on everyone else just because it’s something you choose for yourself.
November 7th, 2010 at 4:33 pm
@DM: “…inexperienced drivers…are still in the process of proving their lower risk.”
Are you arguing that some Canadian citizens should be financially penalized because they come from a certain demographic that has to “prove” something about their worthiness to participate? That’s like forcing immigrants to pay extra taxes to support the criminal justice system because they haven’t proven they can be trusted to live peacefully and lawfully in Canada.
In a free society, no one should be penalized unless they’ve actually committed some sort of egregious act that infringes on the freedom of others. A young person with a clean, accident-free driving record has as much right to reasonably-priced insurance as any other driver.
I take it you’re in favour of paying more and more each year for your medical insurance because you’re more “at risk” for health problems as you age. Following that logic, by the time you’re 65 you’ll no doubt be quite happy to cut cheques for $1000 to mitigate the cost of your biannual colonoscopies.
Insurance is a communitarian concept: pooling resources to help those who face some sort of personal calamity. It’s all about “wealth transfer”. Your opposition to this sort of redistribution leads me to suspect that you favour the outright abolition of mandatory auto insurance, in which case you must also be in favour of having to launch your own expensive and possibly fruitless civil action if some uninsured motorist makes a left turn into your bike.
Come on, DM. Give a little, get a lot.
November 27th, 2010 at 11:43 am
Just an FYI, all of you are complaining about BC insurance rates, I came from Ontario, and these rates have me in heaven.
1) When I was 19 I bought a 2004 Kawa Ninja 500, thinking a 500 would be great to learn on and insure. I went to a few insurance companies trying to get the best rate (not a monopoly in Ontario but more expensive). What I discovered is in Ontario they charge for the full twelve months up front, no 3 or 6 month plan. The total for basic liability was $3800 for the year. The 500, because it had “Ninja” in the name, was classed as a sports bike. You cannot pay for the year, then in October cancel the policy and collect the refund, as they charge you 75% – 90 % cancellation fee.
2) The next summer, I went to upgrade to a zx6r, bought the bike thinking I had a year of experience, insurance in, I would get a break. The cheapest company I found was $6000 for basic liability. I did not pay it this time, but spent the summer driving without any insurance.
I moved here now in my mid twenties, and pay on a 6 month plan, which costs me $1000 for a Ducati 999, with theft.
The grass is always greener, give me ICBC ANY DAY OF THE YEAR over the corrupt “free market” of insurance in Ontario.
January 7th, 2011 at 7:51 pm
Same with me Chris, I’m moving to Vancouver Sept 2011 for good, originally from Toronto. Like you said, ICBC rates puts me in heaven too. I’m driving for 10 yrs & 31yo now, i pay for liability only for a 10yr old Toyota sienna $5200 a year. Only had 3 minor traffic tickets in past 10 yrs! Half the insurance brokers here dont do their jobs. This yr, i found out my ins broker still had me as age 25! i called & they said they’d correct it next year when renewing! wtf! In 2005, my ins company sent me ins slip 2 months late, one month prior to that, i was pulled over by cop & given a ticket (I’d the temp 30 day slip but officer said it wasn’t legit!) what a crock of shit! In 2006, my own ins company charged me 30% more coz of this insurance traffic ticket i received when it was their mistake in the first place. Same when i started riding a bike 2 yrs back! I’d to give up my CBR 600 & start riding a CBR 125 to save on insurance! it was a joke coz my workers rode bigger bikes than me! I’m a masonry contractor & paid $3000 a yr liability for the 600! right now i pay $800 a yr for the 125! i bought a bike to save $ on my V8 truck when giving estimates 20-100kms away for my biz customers! i spend 2000 a month on gas alone, add high ins on top & u got me working a second job just to afford ins! done with Ontario, no more! When time came to claim something, they haggle u around for months & increase your rates!! Vancouver mild weather will also boost my masonry biz big time, I guess i could work all yr round, not like 6 mths a yr here & still pay ins while sitting at home doing nothing!
January 10th, 2011 at 3:07 pm
I’m moving to Surrey from Ontario and found this site while trying to get on line quotes.Fellow riders experiences here seem to be brutal, I’ll keep an eye on this site should any one find an insurance co. thats worth my time and money.Thanx for the input guys.
January 18th, 2011 at 4:44 pm
Ok everyone. I totally agree that ICBC sucks. how do we as a whole put a stop to the theft of ICBC?? IF there is a way, im IN!
February 4th, 2011 at 2:34 pm
The thing I found out when I moved here is BC stands for Bring Cash.
I had 15 years clear driving record, no accidents no claims, but they require a copy of each policy you ever had to get the discount, needless to say as almost the entire world runs commercial insurance open to competition, I tended to change insurers most years, relying on the certificate of no claims issued at the end of each year. not surprisingly this no claims certificate was not good enough for ICBC as they are only to after the money.
Why the province needs to run this monopoly is beyond me, they care more for what they can fleece the public for than offering value for money.
February 20th, 2011 at 12:12 pm
You BC people have it so good!
Living in Manitoba, the absolute cheapest insurance I can get for any bike is roughly $3000. Not having a money tree growing in my yard, I would opt for the 12 monthly payments to make things a little more reasonable. Nope. Doesn’t work. They force you to pay over the 6 month riding season. So, despite the fact that I’ve had my full class 6 license for over 10 years with no accidents, it would still cost me approximately $500 per month to insure any bike with more power than a moped. Talk about a monopoly!
I’m seriously considering moving to BC to enjoy low insurance rates and a longer riding season.
February 24th, 2011 at 9:37 pm
I just got liability insurance for my FZ6 thru ICBC and found the rates to be much better than where I recently came from (Ontario). I asked for a letter from my old insurance company to verify my claim history so they sent me an e-mail to print stating that within my last 8 years with them, there was no claims. This made me eligible for their standard 40% off insurance which was very fair (the savings are from 0 to 43% based on experience). I just don’t understand why ICBC charges so high for comp. insurance unless they don’t want to have to deal with it, so they charge high prices so no one gets it.
What I really need to know is what are the good comprehensive insurance companies out here in Vancouver and how has your experience been with them?
March 3rd, 2011 at 12:46 pm
Hey Guys
I am due to move over to BC this summer from the UK and found this site whilst trying to decide if it is worth bringing my Honda CBR 1000. Looking at these threads I am really shocked. I relly feel for you guys and my future. I have had a bike most of my adult life (now 51) and after having a two year break had to start rebuilding my insurance record again. Four years on I pay £230 per year for fully comprehensive cover. A little less than I pay for the car. I guess I will be leaving the bike behind for a camper for those road trips – a real shame as I was really looking forward to cruising your beautiful mountain roads. I am not sure how I will get on without a bike. Now I know why us Brits have a reputation for unnesseasry moaning – we have little to moan about.
March 15th, 2011 at 11:18 pm
I live in BC, have about 18 yrs exp and drive a Triumph Bonneville. I’ve noticed the comments about driving without insurance.
I moved from Alberta where licensing is a provincial domain but insurance is private I can understand how this works but how this works in BC where ICBC is responsible for licensing and insurance is a mystery to me.
Note: I do not support driving without insurance, just curious about how it is done.
March 27th, 2011 at 8:58 pm
hah! Insurance in BC is retarded, I can go off on a huge rant about it. It sounds even worse in Ontario tho.
I’m from Alberta originally but started riding while in BC. I did move back to AB for a year recently and insured my 2005 ZX10R for under $300 a year for liability, if i wanted full coverage it would have been around $500 – 600. In BC it’s around $900 a year for just liability with a 40% discount.
The dumbest thing is it’s the same price to insure my 1982 GS1100.
The GS has around 100 hp and weighs at least 500 lbs. The ZX10 has 160 hp and weighs 360ish lbs. a new 2011 zx10 or bmw 1000 rr will push almost 200 hp and be the same to insure…
all of them are cheaper to insure than a big cruiser or touring bike, that have much less hp and weigh at least 800 pounds.
I don’t get it.
That’s not even starting to talk about the noise regulation laws that are in effect in some areas or the new if you’re going 40 over you get impounded for a week immediately and a bunch of other stuff that will cost you more than a DUI…
April 9th, 2011 at 2:46 pm
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April 28th, 2011 at 11:25 am
Ok We are all unhappy with the ICBC Communist Monopoly!!! How do we change it??? Is there any type of movement or Federal Body? Contact your MP and MLA. I pay 2.5 times more than I did in AB. I work out of province a lot and it costs me an extra $1000.00 a year to take my truck out of province,ridiculous!! I just bought a new bike worth $20,000 and am a little scared about what my insurance rates will be when I get back to BC. I had to register my bike in AB as it was a Repo,and they would not let me register it in BC unless I had the previous owners registration. ICBC is the only thing I hate about BC!! Have a great riding season everyone.
May 9th, 2011 at 5:19 pm
The only thing that I could think of would be to take it up with the government and spread awareness.. Even then I can’t foresee any changes happening in the next 10 years. Pathetic, I know
May 17th, 2011 at 12:28 am
@Lefty
If you think this should be a communitarian endeavor, would you please pay my insurance for me? After all, you seem to like spending other people’s money, I thought you might want to spend some of your own and help me in a communitarian effort. Seeing as how I can’t afford the cost of insurance since you think I should subsidize a demographic that overwhelmingly statistically incurs most of the costs in damage. Generalizing am I. I also generalize that I will be hit by a car if I don’t look before crossing the street and act defensively even if I think it is clear. I’m sure drivers will take evasive action if needed but I still generalize that they won’t. I have to give you a hand since I’m sure you cross the street with your eyes closed to prove you don’t generalize. Give me a break.
June 12th, 2011 at 8:40 am
OK, I keep hearing of guys and $1000, or $1200 per year, adn I am really puzzled now. I am moving to BC this July, to the Island, and I have 2009 BMW F650GS, and looking forward to real riding this summer and fall. But, when I called to get my insurance quote, 30 years, no claims, no accidents, no tickets on my bike, 1 ticket in the past 8 years in my car….I was quoted $1993.00 per year for basic????? Is that just a looney bird “quote”, or is it a new rate? I called Megson F for the rest, and Comp/ fire/ theft was $240 for the year. I also found my auto insurance is going to go up 2.5 times. My 21 year old daughter will pay the same as she did in Alberta. I feel like she should insure all my vehicles and I should be the occasional driver on HER policy!!!!
August 6th, 2011 at 9:29 pm
Alberta brand new 2011 roadglide ultra 41 years old. 2years with bike licence $980.00 full coverage. Plus replacment value. I feel sorry for all u BC bike owner you realy need to rally together and get icbc changed or get rid of them. For that you need to remove your currrent provincial government.Also look @ that Damm HST nEED I say more . Good Luck
August 11th, 2011 at 5:12 pm
OK, so the ICBC rant continues, with some real world comparisons.
I have 2 motorcycles, a 1200 Kawi Voyager, and a 600 Silver Wing. My insurance in Ontario for both was $840, all inclusive.
Comparable coverage by ICBC and third party was $2,000
I am 67 years old, a Canada Safety Council instructor, with 40 years accident free and no tickets in over 20 years.
Doesn’t matter, as stated earlier, BC uses displacement, regardless of motorcycle type. Hmm.. Why did I come to BC..
Oh by the way, house insurance is also twice what it was in Ontario, and the gas taxes are ridiculous.. every excuse to take money from the working (or retired middle class) to support the public service.
Time for more accountability by all levels of government in BC. Are you aware that we all pay transit taxes even though only 8% of the workers in the lower mainland commute downtown. Where is the equity in that.
August 17th, 2011 at 9:58 pm
Thank No Fault insurance and ICBC’s minimum test standards. They need to pay for all the terrible drivers that they allow onto the roads.
August 21st, 2011 at 10:48 am
As a fellow fan of car I was wondering what you think of the state of car warranties for used cars in general at the moment?
December 24th, 2011 at 12:11 pm
The BC government uses proceeds from ICBC to fund tax cuts for corporations. Simple as that. $990,000,000 so far. And rates are going up next year.
The Best Place on Earth(tm) – if you are a corporation.
December 30th, 2011 at 6:52 am
I live in Kelowna and have 3 bikes, a 600cc Yamaha, a GSXR750 and a V-Strom650. I pay a yearly rate of between 550-600 per bike with basic insurance.
Thats about $50 per month per bike. I don’t know why you are paying $120 per month?
I am 57.
I insure all three May to October. I’ve never had a problem with ICBC. Also at least here in Kelowna they have the most efficient personell I have ever dealt with. Take a number and always within 3 minutes you are taken care of, and fast too.
January 30th, 2012 at 2:36 pm
10 years riding (legally) Left BC for Alberta in 2000. I was in Burnaby with ICBC ROADSTAR 40% saving on my Ins. 1980 Cb750 Basic was $690 year. The same bike when I got to Alberta in 2000 was $99 year Basic.
Now, I’ve returned to BC with 21 years no claim/tickets and a 2007 V-strom 1000. The bike currently has coverage from Alberta at $472 yr. I’m trying to do the mental gymnastics in order to get through my impending ICBC rape assault.
PLEASE JOIN http://www.bccom-bc.com/
January 31st, 2012 at 7:50 pm
Hi,
I am a beginner biker and plan to buy a Kawasaki Ninja250 which is a toy for most of you! Any idea how much I should put aside each year for the insurance in Vancouver?
Cheers
March 12th, 2012 at 5:29 pm
If liability insurance covers the rider (driver), how can ICBC charge me twice for a liability policy? Once for my truck, once for my bike?
March 13th, 2012 at 5:09 am
It used to be that buying a bike and insurance was preferable to getting a car. How is it cheaper?
ICBC is corrupt greedy and out of control. A growing majority are fed up with the arrogant entitlement of this unfair Government monopoly. Occupy ICBC!
Gather and protest! From unfair and absurdly high premiums for first offence for 40 over the speed limit even if it was unintentional, ($1.000 on top of the $400.00 fine), to double dipping on liability if you own more than one vehicle, to outdated and unfair engine displacement cost scales, among many others. Not to mention the underhanded and despicable handling of the money we have already given them. Insurance cost are going up, and we are made to pay the price for their incompetent and tyrannical mismanagement.
Don’t be surprised to find that our ICBC payments that are supposed to be used to settle claims and provide other services, are actually being used in other areas of government that have nothing to do with ICBC. It’s a money grab. You are all being ripped off and it’s just the beginning.
The more vehicles on the road, the more accidents, but the more money ICBC gets, so that is no argument for increased rates. ICBC is handling our money improperly!
I can’t believe residents from other provinces have the audacity to tell us here in BC that we are lucky and should not complain, because another province is worse off. How are we lucky? Lesser of both evils? Yet Alberta’s cheaper insurance rates work well! I expect nothing more than the dismantling and dissolving of ICBC permanently! Privatized Insurance is the only way to stay competitive and fair.
Perhaps a new government is in order!
March 24th, 2012 at 7:54 pm
Redb4, the liability insurance is with the vehicle, not the driver.
May 20th, 2012 at 2:42 pm
Wow, then how much do you pay each year? Or do you pay only once and wait for the accident to come then pay back to the company?
May 20th, 2012 at 2:43 pm
What? Do you wait for the Accident to come to you then pay at a higher price! OmG! Man , that sucks, you know,too much money wasted.
May 20th, 2012 at 2:45 pm
Wow! This year’s blueberries are like soo big! Ans Sweet!