Motorcycles offer an experience few forms of transport can match. From the roar of the engine to the wind in your hair, motorcycles embody the essence of freedom and living life in the fast lane like no other. Unfortunately, these shiny two-wheeled steeds come with the baggage that most forms of transport do. Repair bills, maintenance, fuel costs and motorcycle insurance are all parts of the cost of ownership. By knowing how much is motorcycle insurance before making a purchase, you can find the perfect bike to suit your needs.
Factors Many Insurance Companies Consider
- What is the age of the driver? Regardless of driving experience, the younger ages lead to higher premiums. The answer to “how much is motorcycle insurance for a 18 year old?” could be as much as five times higher than that of a middle-aged adult with good driving history.
- What is the driver’s history? A clean and lengthy driving record will always reduce premiums. Accidents, tickets and lapses in licensure or insurance coverage might cause rates to be higher.
- Where is the driver located? In general, bikes driven in highly populated areas will require higher premiums. The way the insurance companies see it, the more things there are on the road with you, the greater chances they will end up covering the cost of an accident. For example, determining how much is motorcycle insurance in California and North Dakota might have drastically differing answers for the same person.
- What is the bike used for? More time on the road means more chances for an accident. If you are only planning to use your bike for the occasional outing with friends or weekend ride, tell your provider. This could result in substantial savings on your monthly premium.
- Who will be using the bike? Unlike most car insurance policies, passengers and alternate drivers are not always covered on a standard motorcycle insurance policy. With the risk of injury substantially higher when motorcycles are involved, this could results in costly bills or expenses. Always check to insure your levels of medical coverage for any drivers and passengers is adequate to cover potential damages or injury.
- What type of coverage are you looking for? Like car insurance, motorcycle insurance is available with a wide range of coverage options. The most comprehensive type is often full coverage. Determining how much is full coverage motorcycle insurance will depend on many of the pre-mentioned factors.
- What type of bike are you insuring? Much like cars, more power equals more risk. This also means more horsepower equals higher premiums.
By considering these factors before finding a motorcycle insurance package, you can keep how much is motorcycle insurance to a minimum. Most insurance providers will also offer discounts to anyone who has successfully completed a Motorcycle Safety Foundation safety course. If the company who provides your car insurance also provides motorcycle insurance, there may be multi-vehicle discounts as well. Both of these offer easy and affordable ways to reduce how much is motorcycle insurance premiums.