Thinking about buying your first motorcycle and hitting the road? if so, dreams of sliding down the field in the open air probably fill her head. Before buying a motorcycle, a more practical question is: how much does motorcycle insurance cost?
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This is what you can expect to pay.
average cost of motorcycle insurance
the average cost of motorcycle insurance in the us. uu. it’s $178 a month. As you’ll see below, your costs will vary depending on your state and the types of coverage you choose.
There’s an especially clear distinction between how much you’ll pay for coverage in cold-weather states and warm-weather states. In places where the weather is warmer for longer, cyclists are more likely to take their bikes out more often, increasing the risk of an accident or other mishap.
for example, in wisconsin, you can expect to pay $60 a month or $720 a year. By contrast, in California, you’ll pay a whopping $514 a month, or $6,168 a year, more than eight times the average cost of motorcycle insurance in Wisconsin.
Here’s a rundown of average monthly motorcycle insurance costs in eight states.
average cost of motorcycle insurance by state
what determines the cost of motorcycle insurance?
The amount you pay for motorcycle coverage will depend on factors such as:
- how old you are, with younger and older riders tending to pay more
- how clean your driving record is
- where do you live
- the type of motorcycle you own, as performance bikes generally cost more to insure
- the age of the motorcycle
- the number of miles you accumulate when you travel over the course of a year
- where do you store the bike when you’re not using it
- Collision coverage pays for repairs to your motorcycle if it is damaged in a crash.
- Comprehensive coverage pays for damage to your motorcycle caused by something other than a collision, such as theft or vandalism, weather or fire.
- Uninsured/Underinsured Motorist coverage pays your medical bills if another uninsured or underinsured driver causes an accident.
- Complete a motorcycle training course. Your motorcycle insurance costs may be reduced if you graduate from a course offered by an organization such as the Motorcycle Safety Foundation. triple-i says the benefit may be particularly strong for passengers under 25, who pay high fares.
- Get a discount for multiple vehicles. If you insure more than one bike, or a bike and a car, you may get a lower rate. Many insurers offer a good discount when you bundle insurance this way.
- You qualify for an organization discount. Some insurers give you a break if you belong to a motorcycle club or similar organization.
- Store your bike for the winter. In colder weather states, many cyclists store their bikes for the winter and don’t use them. If you’re in this group, you may qualify for a “reserve” discount where only comprehensive coverage remains on your motorcycle for the winter, saving you a good deal of money.
what does motorcycle insurance cover?
If you’ve ever purchased an auto insurance policy, you have a pretty good idea of the type of coverage you can get with motorcycle insurance. the two types of policies are very similar.
Motorcycle insurance offers liability coverage that protects you if you injure another person or damage their property. In some states, insurers also offer guest passenger liability, which will cover you if a passenger on your bike is injured.
In most states, you will need to have at least a minimum level of liability coverage.
Other aspects of motorcycle coverage may be optional, including:
Motorcycle owners often enhance their ride with custom parts. A typical comprehensive or collision insurance policy typically won’t reimburse you for damage to custom parts, and instead may only pay to replace them with standard parts.
If you want to make sure your fancy chrome parts or other upgrades are fully covered, ask if your insurer offers separate coverage for custom parts.
how to save on motorcycle insurance
Fortunately, there are usually steps you can take to lower the cost of your motorcycle insurance.
Perhaps the most important thing you can do is shop around and compare quotes from several different insurers. each insurance company has its own formula for setting rates, and you won’t know if you’re overpaying until you compare motorcycle insurance quotes.
increase your deductible
You can also save money by increasing your deductible if you have comprehensive and collision insurance. For example, raising your deductible from $500 to $1,000 (or more) will lower the cost of your motorcycle insurance.
if you increase your deductible, be prepared to get a lower insurance check if you file a collision or comprehensive claim.
keep a clean driving record
Driving safely to avoid tickets and accidents is another key way to keep costs down. Insurers look favorably on motorcycle owners who maintain a clean driving record.
reconsider your coverage
If you drop comprehensive and collision coverage, you’ll also substantially reduce your motorcycle insurance costs. Dropping such coverage generally makes more sense when your bike is older and its value is quite low.
other ways to save on motorcycle insurance
The Insurance Information Institute (Triple-I) recommends these additional savings tactics:
forbes advisor analyzed insurance quotes in eight states for owners of a harley-davidson street glide. average rates are for the minimum motorcycle liability insurance required in each state, uninsured motorist coverage, and comprehensive and collision coverage with a $500 deductible. quotes are from allstate, geico, progressive and travelers as of May 2022.