With the 2023 Alberta riding season nearing its natural conclusion, we wanted to look back at how much motorcycle insurance costs in Alberta during the year. In the name of transparency Armour has compiled the data to get an accurate assessment of how much it costs to get motorcycle insurance.
* This data is based on the average prices of new insurance policies we've seen and won't necessarily reflect your experience. The sampled data has been compiled from November 1, 2022 - October 31, 2023.
How Much Did a Motorcycle Insurance Policy Cost in Alberta in 2023?
- Average Annual Cost: $448
- Average Monthly Cost: $38.64 (assuming 3.5% financing fee)
Coverage can vary for motorcycles but all policies include basic liability coverage with the option of adding collision and comprehensive insurance. Most motorcycle policies at Armour cover $2 million in liability and comprehensive coverage to protect against fire, theft, and other disasters.
Alberta Motorcycle Insurance Quick Facts
Motorcycle Insurance is Rated Seasonally
When you get a motorcycle insurance policy, the insurance company knows that you're not going to be riding all year round. Realistically, the riding season is from May-October most years. The insurance companies only account for drivers being on the road for 50% of the year and parking their motorcycles over the winter (the other 50%) of the year. For this reason, you cannot place a motorcycle on parking coverage since the parking coverage is already accounted for in the price.
Since Alberta rates motorcycles seasonally, it is considerably more affordable to insure a motorcycle in Alberta than it is in the similar insurance market of Ontario (which can easily range between $1,500-$4,000 annually).
Are Motorcycles Dangerous to Drive?
A common notion about driving a motorcycle is that it's dangerous. This can certainly be true if you don't have proper training, bike maintenance, and/or gear before riding. Here are a few statistics about vehicle and motorcycle accidents from 2021 to help paint a picture.
- Number of accidents per 10,000 registered vehicles: 264.1
- Number of accidents per 10,000 registered motorcycles: 34.9
- Number of fatal accidents per 10,000 registered vehicles: 0.6
- Number of fatal accidents per 10,000 registered motorcycles: 2.5
Technically speaking, a motorcycle driver is around 3.16 times more likely to be in a fatal collision than an automobile driver based on the number of vehicles on the road. It should also be noted that automobile drivers are 6.57 times more likely to be in accident at all.
While driving a motorcycle does have some level of risk, it isn't entirely dangerous when the right precautions are taken.
Which Demographic of Motorcycle Driver has the Highest Risk Profile?
The demographic of people that accounted for the most motorcycle accidents in 2021 was male drivers between 35-44 years of age. They accounted for 19.7% of all motorcycle accidents but for every 1,000 drivers in this demographic, there only 2 accidents.
The demographic that accounted for the most accidents proportional to the number of drivers in 2021 was 16-24 year old drivers.
| Age | Number of Collisions per 1,000 Motorcycle Drivers |
| 16-17 | 51.9 |
| 18-19 | 17.6 |
| 20-24 | 10.5 |
Conclusion
Motorcycles can be an excellent and affordable way of getting around in the summer months. Ensuring you have proper training and equipment can make your riding experience as safe as possible. If you or someone you know has a motorcycle and is looking for insurance, we'd love to help you out.
