Motorcycle insurance is a must. Motorcycle coverage will protect you, your motorcycle, and other drivers on the road. However, when purchasing a motorcycle, it’s a good idea to understand the cost factors involved and whether or not you are getting a good deal on your motorcycle insurance.
In this article, we’ll fill you in on the a) average cost of motorcycle insurance, b) how you can save some money, and c) the importance of proper coverage.
Exploring the Average Motorcycle Insurance Cost
Motorcycle insurance costs vary as much as the costs of the motorcycles do. On average, riders may find themselves paying anywhere from $25 to $200 per month, depending on the specific features and options they choose.
The national average is $33 per month.
When we break that down further, we find that liability-only motorcycle insurance coverage, also known as liability coverage, costs around $141 annually. Opting for full coverage? That’s going to bump up the annual cost to $364 on average. Of course, these averages offer just a baseline, with personal motorcycle insurance rates ranging widely depending on a host of factors.
| Factor | Impact on Cost |
| Average Monthly Cost | $25 to $200 |
| Nationwide Average | $33 per month |
| Liability Coverage | $141 annually |
| Full Coverage | $364 annually |
| Most Expensive States | Kentucky, Florida, Arizona, Mississippi, Texas (up to $69 per month) |
| Least Expensive States | North Dakota, Iowa, South Dakota, Maine, Massachusetts (as low as $18 per month) |
| Factors Affecting Cost | Age, experience, bike type, location, riding history, coverage options, deductibles, population density, crime rates, traffic conditions, weather, & claims history. |
Factors Affecting the Cost of Motorcycle Insurance
The motorcycle insurance cost is shaped by several criteria: the motorcycle type, location, and individual riding history. For example, sleek sport bikes might turn heads, but they can also lead to heftier insurance costs compared to modest commuter bikes. Similarly, living in a bustling city may mean stellar nightlife and entertainment waiting around every corner–but it could also mean higher premiums due to an increased risk of theft or accidents.
Some factors that can affect motorcycle insurance costs include:
- Age and driving experience of the rider
- Type and model of the motorcycle
- Location and where the motorcycle will be stored
- Riding history and any previous claims
- Coverage options and deductibles chosen
Geographic Influence on Insurance Rates
Areas with greater population density generally have higher premiums due to a higher risk of accidents and crimes such as theft or vandalism.
States with high crime rates, heavy traffic conditions, or frequent severe weather events often have higher car insurance premiums due to the elevated likelihood of theft and collisions.
Conversely, states with severe winters often have lower auto insurance premiums, as the reduced riding season results in a decreased risk of accidents and theft.
The Age Factor in Motorcycle Insurance Rates
Age plays a significant role in determining motorcycle insurance premiums.
Younger riders, such as those between 16 and 18 years old, face higher rates due to their higher risk of incidents and lack of riding experience.
For instance, the average annual motorcycle insurance cost for a 16-year-old rider is $2,576, which drops to $2,044 for an 18-year-old.
As riders age and gain more experience, their motorcycle insurance premiums typically decrease. For example, a 21-year-old rider’s average annual motorcycle insurance cost is $1,911, which is 26% more expensive than a 35-year-old’s rate.
Impact of Bike Type on Premiums
The type of bike you ride can significantly impact your insurance premium. With their high performance and speed, sport and supersport bikes are generally more expensive to insure than cruiser-style bikes, sometimes costing more than three and a half times as much.
Bike-specific factors that contribute to the cost of insurance include:
- The bike’s value
- Safety features
- Crash ratings
- The likelihood of theft or accidents associated with specific makes and models
For instance, motorcycles with higher horsepower present a higher risk of accidents, which can result in more expensive insurance premiums.
The Effect of Safety Features on Premiums
Safety features on a motorcycle can play a significant role in reducing insurance premiums. Features that reduce the risk of accidents and claims, such as Anti-lock Braking Systems (ABS) and motorcycle stability control, can result in discounts.
Enhanced visibility features like advanced lighting systems and reflective detailing can also lead to premium discounts by potentially reducing the risk of accidents. Furthermore, motorcycles with higher crashworthiness typically garner lower insurance premiums due to their safer ratings.
Comparing Motorcycle Insurance Providers
All insurance providers have different rates. When shopping for full-coverage motorcycle insurance, it makes sense to get several quotes. Progressive is often one of the least expensive options, with most plans costing around $23 per month.
When comparing motorcycle insurance providers, take a look to see if they offer motorcycle roadside assistance programs or plans. If you need assistance, these can be very helpful.
| Insurance Company | Estimated Average Monthly Quote Range |
| Progressive | $23 – $50 |
| Geico | $25 – $60 |
| American Family | $20 – $70 |
| Erie | $30 – $70 |
| Allstate | $25 – $80 |
| Nationwide | $20 – $60 |
Strategies to Save on Motorcycle Insurance
There are several strategies to keep the cost of motorcycle insurance in check. Comprehensive and collision coverage are standard in a policy, but if it’s the off-season and your bike is parked, you may only need to keep the comprehensive.
Discounts and Deals
Motorcycle insurance companies offer an array of discounts, including:
- Multiple motorcycle discount
- Early policy signing discount
- Automatic payment discount
- Military personnel discount
- Membership discount for recognized motorcycle organizations
With these discounts applied, riders like yourself will be able to save a considerable amount on their motorcycle insurance policies. That’s why it’s crucial to compare motorcycle insurance quotes to score the best deal.
Adjustments to Deductibles
A deductible refers to the out-of-pocket amount you’re required to pay before your insurance company steps in to cover a claim.
Choosing a higher deductible can alter your insurance premiums and generally translates to lower monthly rates.
Note: Opting for a higher deductible comes with a trade-off. While your monthly payments may be lower, you’ll face a greater out-of-pocket cost when filing a claim. Choosing a deductible amount that you can comfortably afford is crucial should you need to make an insurance claim.
How Safety Courses Can Lower Rates
Successfully completing motorcycle safety courses is a highly effective strategy for reducing motorcycle insurance premiums.
Insurance providers often offer discounts for riders who improve their skills and knowledge through these courses.
Many insurance providers recognize the Motorcycle Safety Foundation’s courses and offer discounts to graduates. Some companies may even offer discounts of up to 10-15% for motorcyclists who have completed a safety course.
Premium Coverage vs. Basic Coverage
As you shop for the right motorcycle insurance for you, keep in mind that there are several plan options to choose from. Note: You don’t necessarily need the premium policy, but you should understand how it benefits you as a rider.
Here’s a look at a premium motorcycle insurance policy compared to the basic coverage.
| Factor | Premium Policy | Basic Policy |
| Cost | Higher, up to $200 monthly | Lower, starting from $25 monthly |
| Coverage Scope | Comprehensive, including collision and theft | Basic liability, optional collision |
| Deductibles | Lower, less out-of-pocket for claims | Higher, more out-of-pocket for claims |
| Additional Benefits | Yes (e.g., roadside assistance, accessory coverage) | Limited or none |
| Discount Opportunities | More options (e.g., safety courses, multiple motorcycles) | Fewer options |
Summary
When buying or owning a motorcycle, insurance costs aren’t the only costs you’ll need to consider.
In addition to insurance costs, remember that motorcycles require maintenance, licensing, and proper storage. Ensuring your motorcycle is well maintained and securely stored will safeguard your investment and ensure the bike is operating at peak performance.
If your garage does not have enough space for your motorcycle, think about renting a 5’x10’ storage unit. Neighbor, a peer-to-peer storage marketplace, offers safe and budget-friendly vehicle storage options nearest you.
Keep your bike close to home and pay less than ever for storage!
Frequently Asked Questions
On Average: How Much is Motorcycle Insurance in the US?
In the US, motorcycle insurance averages between $25 and $200 per month. The location, type of bike, and the average age of a motorcyclist all determine these costs.
Who Is the Cheapest Motorcycle Insurance?
Progressive and Geico often offer the cheapest motorcycle insurance rates.
How Much Is Motorcycle Insurance for an 18-Year-Old in Texas?
Motorcycle insurance for an 18-year-old in Texas can range in cost from $600 to $2500/year, depending on various factors and coverage choices.
How Much Does It Cost to Insure a Motorcycle in Illinois?
Insuring a motorcycle in Illinois ranges in cost from around $23 a month to more than $70 per month.
What’s the Most Expensive Motorcycle Insurance?
The most expensive motorcycle insurance is usually for high-performance or sports bikes. You’ll find that these riders have a higher risk profile, translating to higher liability costs.
Who has the best motorcycle insurance?
Progressive is often said to have the best and easiest to obtain motorcycle insurance on the market. However, motorcycle insurance costs vary, and getting more than one quote for your motorcycle insurance is smart.
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