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What Is The Average Motorcycle Insurance Cost?

What Is The Average Motorcycle Insurance Cost?

It can be tough to determine the average cost of motorcycle insurance in the United States. There are plenty of different factors that go into estimating the amount that you will be expected to pay for motorcycle coverage. Many people assume that there is a specific universal rate that they will be charged – this is not the case. The amount you pay may be completely different from the amount your parents pay or your friends pay for their motorcycle. Insurance is highly customized and the cost is determined on an individual basis. However, if you are curious about average rates based on age – read below.

Determining the Average Motorcycle Insurance Cost

Included below are a few scenarios of different age groups, driving records, types of insurance (e.g. liability-only insurance vs. full coverage), and types of motorcycles. You will be able to see how these various factors play a role in determining average cost to insure a motorcycle. Also provided are a few average cost estimates based on data collected from individuals that have certain types of policies.

Group #1: Driving Profile

  • Age: 25 to 60 Years Old
  • Driving Record: Good
  • Coverage: Liability-Only
  • Motorcycle: Cruiser or Touring Bike

If you fall into the age group of a driver between the age of 25 and 60, you will experience a reduction in cost compared to individuals that are under 25. If you have a good driving record and are looking to fulfill your state’s liability insurance requirements, you will likely be paying somewhere between $200 and $500 per year for coverage.

Keep in mind that this is just an average range – you may not fall perfectly within those numbers. You can further reduce your rate by qualifying for various discounts including: safety course discounts, homeowners discounts, good credit discounts, etc.

Group #2: Driving Profile

  • Age: 25 to 60 Year Olds
  • Driving Record: Good
  • Coverage: Full
  • Motorcycle: Cruiser or Touring Bike

The difference between this group is only the fact that the coverage is more than a basic liability policy. With this policy you are getting “full coverage” which includes both comprehensive and collision insurance. Individuals with full coverage are getting covered for additional types of damages and usually have more valuable motorcycles. For these reasons, the policy is going to cost a few hundred dollars more than the basic liability coverage. Average costs typically range between $400 and $800 per year.

Obviously if you increase your deductible and install an anti-theft device, your policy cost may be reduced. Also understand that the more valuable your motorcycle is, the more you will be expected to pay for coverage.

Group #3: Driving Profile

  • Age: 25 to 60 Year Olds
  • Driving Record: Poor
  • Coverage: Full
  • Motorcycle: Cruiser or Touring

If you have a bad driving record, it can drastically affect the price of your insurance. Things that influence your driving record include violations, “at-fault” accidents, DUI‘s, and other offenses. If you have a bad driving record, insurance providers may turn you down for coverage or increase your rates. If you have a history of risky driving, the average amount you will be expected to pay jumps up another couple hundred dollars within the range of $700 and $1100 per year for coverage.

The best way to reduce your rates in the future is to improve your driving record. Make sure that you are using safe driving practices and following the laws in your state. As time passes, your rates may drop if you are able to show improved driving habits.

Group #4: Driving Profile

  • Age: 16 to 24 Year Olds
  • Driving Record: Good
  • Coverage: Full
  • Motorcycle: Sports Bike (Crotch Rocket)

If you are a young driver and want full coverage insurance on a crotch rocket, you can expect to pay a significant amount towards insurance. Unless you have a good paying job, chances are good that you may need a little financial assistance from your parents to afford the insurance on a crotch rocket.  You may be able to get on your parents insurance policy and save a little bit of money.  However, the average cost to insure these motorcycles for this age group is between $900 and $1500 per year on average.

Many individuals may even have to pay higher prices if they have an expensive sports bike. If you have a poor driving record, the average cost may jump to $2000 per year. Your best bet is to prove that you are a good driver by always staying safe. Obviously another way to reduce your cost is to get a Liability-Only policy, but this may not provide enough protection for you and your nice sports bike.

Factors that Influence Motorcycle Insurance Cost

  • Age: On average, younger drivers are expected to pay more for coverage than more experienced drivers. The younger you are, the more your policy will cost.
  • Coverage: The amount of coverage that you need will play a role in determining cost. If you want comprehensive insurance, it will be an additional charge on your policy.
  • Driving History: Whether you have received any traffic violations, been in accidents, etc. will influence the cost of your insurance.
  • Location: The area in which you live affects the rates of insurance. There are different state requirements for insurance throughout the U.S.  Certain states require more coverage than others to legally operate your motorcycle.
  • Motorcycle Type: The make and model of your motorcycle have a lot to do with how much your policy will cost. Additionally, any customized parts may further increase the price of your coverage.
  • Sex: On average, males are involved in more significant accidents than females.  In most cases, men will pay extra for their insurance.

Get a Free Motorcycle Insurance Quote Online

In order to get the best possible deal on the coverage you need for your motorcycle, you should compare quotes. To conduct a comparison, enter your Zip Code into the free tool below (or at the top of the page). You will see that the system will automatically generate a list of providers based on your specific location. From this list, it is up to you to take the time to collect free quotes from each of these companies. When you have gotten some quotes, you can compare them to each other and determine which provider offers the most affordable rate for coverage!

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