If you want to know how much you can expect to pay for, say, the average motorcycle insurance in the US, then you are at the right place. It could be that you are planning to buy a motorcycle or maybe you are spending too much for insurance. Regardless of your reasons, there are many factors that the insurance companies would consider that could affect the average cost.
Before going further, you should know that the average motorcycle insurance cost for one ride will be significantly different from another. But, one thing is for certain – the more experienced, safer riders can benefit from the average, much cheaper rates as opposed to riders with accidents or tickets.
How Much Is Motorcycle Insurance
Riders who are more mature now realize that insuring their motor bikes is costing them much less than they actually expected. For instance, most riders in their thirties up are paying fifty percent or less of the amount that younger riders would pay to insure their motor cars.
Here are some of the factors, which help to determine the average motorcycle insurance:
- Coverage: Generally, the price for insurance will vary for the different types of coverage. Most companies only offer bare minimum prices, but the additions to the coverage will be more expensive. Besides that, the company that you select can also influence the insurance rates.
- Experience: It is common for insurers to offer experienced riders with a lower premium when they are calculating the average motorcycle insurance rates. So, if you don’t fall into this category, you can take classes or complete courses to get a recognized certificate as this will help to influence the amount that you pay for insurance.
- Driving Record: You should know that speeding, disqualification and accidents will significantly push up your motorcycle insurance. All insurance companies will consider these factors when determining the average motorcycle insurance, regardless of who is at fault.
- The Bike: In case you are not aware of this, the type and size of the motorcycle as well as any modification done to it will affect the insurance cost in a big way. It would cost you less if you are insuring a standard bike. In addition, if your bike is fitted with anti-theft or alarm device, then this will help you to get a cheaper quote for the average motorcycle insurance.
- Use of Motorcycle: The insurers will consider what you are using your motorcycle for when they are calculating the insurance coverage. For instance, if you are living in California, the cost to insure a bike for business or pleasure will vary substantially. Note that the average motorcycle insurance California could be anywhere between $150 and $350 for the year.
The bottom line is that the insurers will look at all these factors and more, so the monthly costs for motorcycle insurance will vary significantly. This will also make it difficult to determine the average motorcycle insurance rate that all riders can expect to pay, so it’s best to conduct a research and make comparisons.