Average Cost Of Motorcycle Insurance


Perhaps you just treated yourself and bought a motorcycle. Maybe you are saving up for one. Or perhaps you are hoping Santa might leave one for you under the tree this year. Either way, the next step is researching how much it will cost you to insure your new ride. There are many different factors that determine how much you will pay from type of motorcycle to driving record. Check out some specific breakdowns below.

Average Cost Example #1

Situation: Driver from 25 to 60 years old with a good driving record seeking liability only coverage for a cruiser

This is a good situation to be in for securing motorcycle insurance, because these are all favorable variables. A driver with these circumstances would likely pay well under $500 per year. In fact, it could cost no more than $200 annually with certain companies, dependent on discounts and bundles. For full coverage, the price would be more in the range of $400-$800 yearly. Of course, keep in mind that more expensive motorcycles will cost more to insure.

Example #2

Situation: Driver from 25 to 60 years old with a bad driving record who wants full coverage for a sports motorcycle

This is where things can get a bit tricky. Much like with car insurance, having a bad driving record will count against you. The difference is that, with motorcycle insurance, this matters even more since driving a motorcycle is more dangerous. People who drive motorcycles have to be extra careful and responsible to avoid accidents, and, thus, insurance claims. Also, sports motorcycles tend to be more expensive, so fixing them will cost more. In addition, they usually operate at higher speeds and are especially popular among the demographic of younger, thrill-seeking riders.

Example #3

Situation: Driver 16 to 24 years old with a good driving record who wants full coverage for any motorcycle

This situation is where the costs might start outweighing the benefits. Even with a good driving record, it will cost young drivers significantly to get full coverage for a motorcycle. You might leave the dealership thinking that you got a great deal, but the insurance will likely amount to over $1000 per year. For sports bikes and expensive models, it could cost closer to $3000.  

The Takeaway: Find Your Average Cost

In the end, it is hard to estimate exactly what you will pay, based on your unique circumstances. The best option is to enter your information and get a quote. Remember that different states have different prices for insurance. One one hand, motorcycles save gas and are usually cheaper to insure than cars. On the other, they are more dangerous and are stolen more frequently. Make sure you take all of this into consideration when choosing your coverage and policy!

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