Determining the average cost of motorcycle insurance is not an easy task. So many variables go into determining the cost it is hard to pinpoint what you might be looking at for overall cost. What motorcycle you insure, what coverage you select, your driving record, and your age are only a portion of the variables that go into calculating the cost of your insurance. Take a look at a few different scenarios and the average cost of motorcycle insurance for each.
25 to 60 Years Old - Good Driving Record - Liability Only Coverage - Cruiser or Touring Motorcycle
These kinds of variables set you up for the lowest motorcycle insurance costs. Drivers above the age of 25 with a good driving record usually qualify for good prices. Combine those factors with liability only coverage and a touring bike and you are looking at $200 to $500 a year for motorcycle insurance.
You can reduce your rate further by purchasing motorcycle insurance through your auto insurance carrier, owning a home, having good credit, and taking a motorcycle safety course.
25 to 60 Years Old - Good Driving Record - Full Coverage - Cruiser or Touring Motorcycle
Adding physical damage to a motorcycle policy can have a big impact on a policy’s premium. The type of motorcycle can also make a huge difference. Often people requesting full coverage have a newer higher valued bike to insure. Plan on adding a few hundred dollars a year to your policy premium for adding full coverage to your policy pushing the average cost to $400 to $800 a year.
Raising your deductible and opting out of insurance add on coverage will lower your overall cost. The more expensive your bike, often the more it costs to insure. Safety features and anti theft devices do make a difference in cost too.
25 to 60 Years Old - Bad Driving Record - Full Coverage - Cruiser or Touring Motorcycle
A bad driving record can really push the cost of motorcycle insurance up. Motorcycle riders need to be extra responsible and cautious while behind the handle bars and a bad driving record reflects poorly on your potential for a future claim. The degree in which your record is bad certainly makes a difference in your overall cost. It would probably be best to get a few quotes to determine a rate for your specific situation.
16 to 24 Years Old - Good Driving Record - Full Coverage – Crotch Rocket Sports Motorcycle
Do not attempt! Well, at least I wouldn't. Young riders are always lured to fast sporty motorcycles especially because they are often sold with a relatively low price tag. What they do not consider is the cost of insuring such a bike. A youthful rider combined with full coverage and a sports bike can lead the average cost of motorcycle insurance easily above the $1000 mark with some even exceeding $3000 a year depending on other circumstances. Sure a good driving record will make the cost lower than a bad record, but the cost will still be very high.
Disclaimer: Different states have different rates. Keep in mind the average cost is just an average and it does not replace an actual quote. You could find yourself being on the high or the low end depending on your experience, location, and even marital status. Motorcycles are often cheaper to insure than cars and certainly can be a great gas saver. Keep all aspects of motorcycle ownership in mind when considering making a purchase.
Michigan Rider Reminder: As of July 2014 the cost of the MCCA fee is $186 per year per motorcycle. The exact dollar amount could vary some based on carriers tacking on processing fees, but it is an extra expense added onto all Michigan autos and motorcycles.
25 to 60 Years Old - Good Driving Record - Liability Only Coverage - Cruiser or Touring Motorcycle
These kinds of variables set you up for the lowest motorcycle insurance costs. Drivers above the age of 25 with a good driving record usually qualify for good prices. Combine those factors with liability only coverage and a touring bike and you are looking at $200 to $500 a year for motorcycle insurance.
You can reduce your rate further by purchasing motorcycle insurance through your auto insurance carrier, owning a home, having good credit, and taking a motorcycle safety course.
25 to 60 Years Old - Good Driving Record - Full Coverage - Cruiser or Touring Motorcycle
Adding physical damage to a motorcycle policy can have a big impact on a policy’s premium. The type of motorcycle can also make a huge difference. Often people requesting full coverage have a newer higher valued bike to insure. Plan on adding a few hundred dollars a year to your policy premium for adding full coverage to your policy pushing the average cost to $400 to $800 a year.
Raising your deductible and opting out of insurance add on coverage will lower your overall cost. The more expensive your bike, often the more it costs to insure. Safety features and anti theft devices do make a difference in cost too.
25 to 60 Years Old - Bad Driving Record - Full Coverage - Cruiser or Touring Motorcycle
A bad driving record can really push the cost of motorcycle insurance up. Motorcycle riders need to be extra responsible and cautious while behind the handle bars and a bad driving record reflects poorly on your potential for a future claim. The degree in which your record is bad certainly makes a difference in your overall cost. It would probably be best to get a few quotes to determine a rate for your specific situation.
16 to 24 Years Old - Good Driving Record - Full Coverage – Crotch Rocket Sports Motorcycle
Do not attempt! Well, at least I wouldn't. Young riders are always lured to fast sporty motorcycles especially because they are often sold with a relatively low price tag. What they do not consider is the cost of insuring such a bike. A youthful rider combined with full coverage and a sports bike can lead the average cost of motorcycle insurance easily above the $1000 mark with some even exceeding $3000 a year depending on other circumstances. Sure a good driving record will make the cost lower than a bad record, but the cost will still be very high.
Disclaimer: Different states have different rates. Keep in mind the average cost is just an average and it does not replace an actual quote. You could find yourself being on the high or the low end depending on your experience, location, and even marital status. Motorcycles are often cheaper to insure than cars and certainly can be a great gas saver. Keep all aspects of motorcycle ownership in mind when considering making a purchase.
Michigan Rider Reminder: As of July 2014 the cost of the MCCA fee is $186 per year per motorcycle. The exact dollar amount could vary some based on carriers tacking on processing fees, but it is an extra expense added onto all Michigan autos and motorcycles.