It depends on how much insurance you choose to carry – and a couple of other things.
At Freeway Insurance, we have great rates for all motorcyclists. However, as compared to vehicle insurance, motorcycle insurance is generally substantially cheaper – almost half.
It should be noted that insurance companies base these decisions on several items, including the amount of time someone has been a customer, as well as a driver’s past driving and claims record. Insurance companies have the ability, however, to decide if a policy applicant qualifies for discounts and other pricing factors that may lower their premium. Younger drivers will pay more than older drivers, even if their individual driving history is the same.Īs with all insurance rates, the state sets acceptable rates for what all types of insurance costs. States that experience colder weather that limits motorcycle riding to only the most hardcore and generally more experienced riders will have lower rates because less people are out riding for a large part of the year. Rates can be higher in warmer states because more people are out riding their bikes and potentially getting into wrecks and filing claims. Quite a jump!Īs with all vehicle insurance, factors such as age, driving history and where you live will impact your motorcycle insurance cost. That’s because rates vary widely from state to state, as well as from bike to bike – and, of course, age plays a big part.įor example, a 16-24 year-old motorcyclist with full coverage on a sports bike is looking at rates between $1,000-$3,000. Average rates for drivers who are between 25 to 60 years old and choose the basic liability coverage for a touring bike are typically between $100-$500 annually.
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