Narrowing The Cost of Motorcycle Insurance Down

Motorcycles can cost more to insure than a car would –this is all for a good reason. It’s obvious that motorcycles are prone to more damage and risks than standard vehicles are. They aren’t as protected or as bulky, so there is a lot more that can go wrong and even more that can injure the driver. As with regular car insurance, there are also several factors about the driver and the vehicle that significantly play into determining the cost of the insurance. This post serves as your tell-all guide to the pricing and how much motorcycle insurance you will need for your bike. 

What Motorcycle Insurance Costs on Average 

As mentioned before, the cost of motorcycle insurance depends on several personal factors, which makes finding a clear average a little difficult. The good news is that we do have a number of working with. It is reported that the average cost for motorcycle insurance in the United States is around $178 a month –that adds up to around $2,136 annually. Of course, this is just the working average, and motorcycle insurance rates differ from location to location. An example would be how much motorcycle insurance is on average in Wisconsin compared to California. Wisconsin has motorcycle rates of around $720 annually, while California has rates of about $6,168 annually –an extremely staggering difference. This is due to the fact that motorcycle riders can ride all year round in the warm California climate, while those Wisconsin riders have to put their bikes in storage until the winter season is over. It’s factors such as these that determine how much motorcycle insurance costs. 

Factors That Determine The Cost Of Motorcycle Insurance

Let’s go over the several personal and motorcycle factors that play a role in determining how much insurance will cost for it. The personal factors which you should be aware of are:

  • Age – It’s general knowledge in the car insurance world that younger drivers pay much more for insurance than older ones, especially if they are teens. The same rule applies to motorcycle insurance for young riders. In several states, the minimum age to drive a motorcycle is 18 rather than 16.
  • Driving record – It especially helps if you have experience or history driving a motorcycle and a safe and clean one at that. Drivers and motorcyclists with a proven track record of safe driving will always make an insurance provider happy and more likely to offer affordable insurance. 
  • Place of residence – Playing back into our comparison between motorcycle rates in Wisconsin and California, location heavily influences how much you will pay for insurance. Things like local crime rates, weather, and population are taken into consideration since they all risk damage to a motorcycle. Insurance companies are able to assess this information by simply looking at your zip code. 
  • Motorcycle age – The age of the motorcycle in question can be telling of the kind of condition the bike is in. As a rule of thumb, older vehicles typically don’t need as much insurance as a new one would. 
  • Type of motorcycle – Cruisers are less to insure than speeders and dirtbikes due to their easier handling and safety features. Several riders factor in the kind of motorcycle they drive into how much they will pay for insurance. 
  • Number of miles you ride in a year – How often you use your motorcycle, in other words, will affect your insurance premiums. The more often you drive, the more likely you are to experience an accident, naturally. 
  • Where you park your motorcycle – Your form of motorcycle storage is very telling of how likely it is to encounter criminal or climate damage. The best garages or motorcycle sheds result in lower premiums for this reason. 

What Motorcycle Insurance Covers

Car insurance and motorcycle insurance function and exist for the same reasons. Every driver and rider must carry general liability coverage at the very least. At the same time, several auto add-ons like comprehensive, collision, and personal injury protection are also available for motorcycles. These would cover your motorcycle when it is damaged in an at-fault accident or while in storage. Since injuries are more likely to occur on a motorcycle, personal injury protection can go a long way. Uninsured motorist coverage or custom part insurance can also do a motorcycle rider good. 

Saving on Your Motorcycle Insurance 

If there is one thing that car insurance is generous with, it’s the discounts. These same discounts are also offered with motorcycle insurance. You can lower the cost of your motorcycle coverage by taking advantage of any of the following discounts:

  • Motorcycle training course discount – Similar to a defensive driving course discount, riders can receive a discount on their insurance by completing an approved motorcycle training course. 
  • Multi-vehicle discount – If you do have a car that is also in need of insurance, you can get both car and motorcycle insurance from one provider for lower premiums. This also makes handling claims and keeping track of insurance information all the easier. 

Motorcycle club discount – Riders belonging to a motorcycle club or organization can be rewarded a discount just for that reason. Motorcycle clubs often promote safe riding habits, which insurance providers smile upon.     

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Holli Greaves
Meet Holly, our versatile freelance journalist and featuers writer who has a passion for dissecting the ever-evolving landscape of business and technology. Your guide to understanding the forces driving our digital age with insightful perspectives and in-depth storytelling.

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