Motorcycle Insurance BC – ICBC Rips Us Off #safe #auto

#motorcycle insurance rates

The Secrets Of Vancouver BC, Canada

Motorcycle Insurance

This has been up since 2009. and it only has gotten worse.

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.

65 Responses to Motorcycle Insurance

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?

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.

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,


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.

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