How Much Does Motorcycle Insurance Cost

How Much Does Motorcycle Insurance Cost?

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Jeffrey
March 21, 2022
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Motorcycles and insurance go together because of the danger of liability.

As you know, motorcycles are always at risk of crashes and accidents. With insurance, the motorcycle and rider are protected.

Liability coverage, for example, which is one of the most popular types of motorcycle insurance, frees the rider from the burden of compensation for injuries and damages in the unfortunate event of an accident.

Motorcycle insurance is so important that only Florida, Washington, Montana, and New Hampshire do not have it as a requirement in America. Car insurance and motorcycle insurance are very similar, except for the cost. But the idea is the same.

Several insurance companies offer different packages for motorcycle operators, which eventually determine the insurance cost.

The implication is that there is no one single answer to the question “how much does motorcycle insurance cost”?

Interestingly, this is a question many bikers and would-be bikers need answers to. We will provide answers to this question as we go on.

Meanwhile, insurance companies would always want to have abundant information from you before selling packages. They want to know your age, riding experience, history of speeding and traffic tickets, type of bike, and credit rating.

In reality, like motor vehicle insurance, motorcycle insurance involves these main coverage:

Liability insurance

Motorcycles and insurance

This type of insurance pays for damage or injury to other people

Collision insurance

This covers damages in case of accidents

Comprehensive coverage:

This is used to pay for damage done by anything other than an accident, like theft or vandalism.

Coverage for motorcycle modifications, parts, and accessories

This covers for payment of riding gear and accessories when they need repair and replacement.

There is also the uninsured motorist coverage which would cover for damage if property is damaged by an uninsured rider.

Most times, an insurance package is a combination of different types of insurance, but many bikers use liability-only insurance. The liability-only motorcycle insurance coverage costs $141 per year, while a full-coverage costs about $364.

The cost of motorcycle insurance varies from state to state. Some states like Florida, Hawaii, Maine, Massachusetts, Montana, Minnesota, New York, and North Dakota are low-cost states for motorcycle insurance.

Medium cost states include Colorado, Georgia, Idaho, Illinois, Indiana, Iowa, Maryland, Mississippi, North Carolina, while Arizona, California, Connecticut, Delaware, Kansas, Kentucky, Louisiana, Michigan are typically high-cost states.

The average cost of monthly motorcycle insurance in low-cost states is around $180. It goes for around $207 for a year in medium-cost states, while it costs $249 in high-cost states.

What is Motorcycle Insurance?

How Much Does Motorcycle Insurance Cost

Before going into the cost details, let’s go into details of exactly what motorcycle insurance means. Without defining what a “motorcycle” means in the insurance industry, we can’t do that.

A motorcycle is defined as a land motor vehicle with two wheels in tandem used primarily for transportation on public roads.

Motorcycle Insurance, therefore, is a special type of package that is designed to offer coverage to riders of different types of motorcycles. It is not impossible to include motorcycles in a larger motor vehicle insurance package like a personal auto policy.

But there are several disadvantages to this. It could be more costly and could also result in coverage gaps. Over time, specialized, stand-alone motorcycle insurance packages were developed to make it easier for motorcycle owners.

Different types of bikes can be covered in a motorcycle insurance package. These could also include specialized vehicles such as golf carts, snowmobiles, and dirt bikes.

A motorcycle insurance policy will cover the cost of injuries to others and damage to other people’s property if you are responsible. Most motorcycle insurance packages can also help take care of several issues. Still, comprehensive motorcycle insurance covers your motorcycle’s repair or replacement costs in nearly anything other than a collision.

If you’re an 18-year old motorcycle owner, you have to pay much more for insurance because your proficiency in riding can’t be trusted, and you are still prone to frequent crashes.

Do you need to have it?

How Much Does Motorcycle Insurance Cost

As we said earlier, motorcycle insurance is very important; it is compulsory in almost all states. You need to have motorcycle insurance not just for coverage in case of emergencies but for greater confidence while riding, especially if you’re just learning how to ride.

How Much Does It Cost?

The cost of motorcycle insurance depends on several factors, including

Age of the rider

Younger riders, especially closer to 18, pay more than older riders for the same policy.

The riding record

Those who have accident records or DUI in driving history will likely pay more.

Type of bike

Insurance companies know the safety records of all the bikes, and you are likely to pay more if your bike is considered prone to crashes.

The state of residence

The cost of insurance varies from state to state, and you are expected to pay more if the state charges more.

Coverage level

Your coverage level will determine how much you pay.

How Much Does Motorcycle Insurance Cost

These factors are important in determining the cost such that a rider with a record of accident can pay as much as three times more than what a person without such a record would pay for the same package.

So, how much does motorcycle insurance cost? On average, you are expected to pay from a minimum of between $250 to $1,000 per annum.

Here’s a breakdown of the average cost of full coverage of motorcycle insurance in all the states annually:

  • Alabama:         $989
  • Alaska:             $981
  • Arizona:           $1,872
  • Arkansas:         $1,327
  • California:         $696
  • Colorado:         $1,774
  • Connecticut:     $1,177
  • Delaware:         $1,177
  • Florida:             $1,284
  • Georgia:           $2,607
  • Hawaii:             $840
  • Idaho:               $1,051
  • Illinois:              $901
  • Indiana:    $1,417
  • Iowa:         $1,006
  • Kansas:   $1,040
  • Kentucky:   $1,372
  • Louisiana:   $1,711
  • Maine:     $828
  • Maryland:    $822
  • Massachusetts:   $716
  • Michigan:          $2,001
  • Minnesota:      $1,016
  • Mississippi:      $1,367
  • Missouri:           $1,730
  • Montana:         $805
  • Nebraska:          $824
  • Nevada:       $995
  • New Hampshire:  $926
  • New Jersey:     $1,160
  • New Mexico:   $967
  • New York:     $1,297
  • North Carolina:  $1126
  • North Dakota: $454
  • Ohio:               $796
  • Oklahoma:       $1,967
  • Oregon:            $1,330
  • Pennsylvania: $1,018
  • Rhode Island:  $1,310
  • South Carolina:   $1,500
  • South Dakota:     $450
  • Tennessee:     $1,781
  • Texas:             $1,152
  • Utah:               $1,315
  • Vermont:         $426
  • Virginia:           $973
  • Washington:    $1,237
  • West Virginia:  $904
  • Wisconsin:      $739
  • Wyoming:        $612

From the table above, Georgia, Arizona, and  Oklahoma are the most costly states for motorcycle insurance, while Vermont, North Dakota, and South Dakota are the cheapest.

One major factor in expensive states is the weather. It is believed that the better the weather, the more you ride. And the more you ride, the greater the chances of crashes.

How to Cut the Cost of Motorcycle Insurance

How Much Does Motorcycle Insurance Cost2

The cost of motorcycle insurance could be on the high side, but it is very important to have one. The cost may be high, but the cost of not having one is higher. However, there are steps you can take to reduce the cost of your motorcycle insurance. Let’s look at some of them:

Consult widely before buying your insurance

Before buying insurance, do your best to shop around. You will certainly find cheap packages if you ask harder. There are cheaper alternatives to whatever option you find. You may just need to devote more time comparing and contrasting with the available options.

Buy bikes with great safety records.

If you’re willing to pay as little as possible for insurance, your bike holds the key. Insurance companies know great and fashionable bikes but are a rating disaster in safety. Invest in bikes that are known to have great safety records. No matter how safe you ride your bike, your premiums would increase if your bike had a poor safety record.

Get certified in safety classes.

Insurers approve certain safety courses. If you get certified, your premiums will be low. You must, however, ensure to ride carefully so that you don’t have records of crashes, as it will certainly increase your insurance.

Become a member of rider organizations

One good thing you can do for your insurance premiums is join motorcycle owner groups. These groups promote safe riding practices, and members benefit from lower premiums.

But the most important consideration is the company you choose for your insurance. Nothing will make a bigger difference in your insurance cost than the company you pick.

Conclusion

How much does motorcycle insurance cost? It depends on several things. However, the average cost is about $1,200 per annum. The younger you are, the higher your premiums.

The cost of motorcycle insurance depends on several factors, including the type of coverage needed and the number of things you want to be covered. Naturally, the more the coverage, the more the cost.

Reference articles:

Jeffrey

Jeffrey Bryce is an experienced motorcycle rider with years of experience caring for motorcycles. His natural fondness for motorcycles have made him come up with LetsGoForARide.com, which is dedicated to answering and teaching you how to care for your bike with the care it requires. LetsGoForARide is the one of his important lifework in reaching out to communities of motorcycle enthusiasts on how to take care of their bike and choosing the correct spare part.