Motorcycle Insurance Cost varies widely and depends on a number of factors. Generally speaking, the costs of motorcycle insurance tend to be higher for younger drivers and for those who drive sports motorcycles. However, each driver has unique circumstances that can affect the cost of his motorcycle coverage. Read on to learn more about some of the factors that affect the Motorcycle Insurance Cost and to find out how those factors might affect you.
Factors that influence the Motorcycle Insurance Cost
- Type of vehicle, year, make, model and engine size (in cubic centimeters). As you will assume, insurance for a newer motorcycle with a larger engine will cost more than insurance for a used Cruiser motorcycle with a smaller engine. Get more information about the different types of motorcycles and their uses.
- Main use that is given to the vehicle. The insurance of a motorcycle that is used mainly for pleasure trips / recreational activities will be less expensive than the one of a motorcycle that is used mainly to travel daily between two places or to work / make deliveries.
- Modifications, transformations, customizations. Has the vehicle been transformed into a tricycle? Has it been modified, customized, redesigned, restored or has the chassis been replaced? If so, you must inform your insurer to have the correct coverage.
- Coverage options. Are you looking for a basic or minimum state liability insurance policy, or do you need a custom motorcycle insurance package that includes collision coverage, comprehensive coverage, uninsured or underinsured motorcycle coverage, Roadside Assistance and OEM support?
- Your age. Drivers of different age groups present different risks.
Your location. The rates differ depending on the geographical location and the space where the vehicle is stored (which is usually the garage’s address). In addition, you may be eligible for a discount if your vehicle is stored in a locked garage.
- Driving history. Have you had accidents, committed traffic violations or received complaints in the last 5 years?
- Limits and deductibles of the policy. What level of protection do you need? If the limits are too high, you will pay for insurance that you do not need; if they are very low, you run the risk of having to cover the difference in out-of-pocket expenses in the event of an accident. You will also run the risk of having to pay more out of pocket if you choose a high deductible in exchange for a lower rate.
- Characteristics and security programs. A discount may be available if your vehicle has a professionally installed radio or a GPS recovery system in case of theft or is equipped with an anti-lock braking system (ABS) installed at the factory. It is also possible that there is a discount available if you take a safety course.
The best way to know how much motorcycle insurance will cost you is through a quote. Fortunately, getting an online motorcycle insurance quote is easy. If you want to get a quote, visit motorcycle insurance website and enter your zip code to begin the process. You can keep Motorcycle Insurance Cost low with our On Your Side Annual Consultation.