How Much Does Motorcycle Insurance Cost
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How Much Does Motorcycle Insurance Cost?

On average, motorcycle insurance costs about $702 with average prices ranging from $469 to $935 in the US for 2020, according to and other sources.

According to ValuePenguin, “The average cost of motorcycle insurance is $702 annually in the U.S., but rates can differ by more than 250 percent depending on where you are located at.”

A number of variables go into establishing how much motorcycle insurance will cost, including the type of motorcycle, the type of coverage you choose, your location, your riding record, and how old you are. You can decrease your rate by getting motorcycle insurance through your auto insurance company, home ownership, having a good credit score, and taking and passing a motorcycle safety class.

The average cost for motorcycle insurance in the U.S. in 2020 was $702.

Here are some instances of riders with differing elements and the amounts they may expect to pay annually on their premiums.

25 to 60 Years Old: Good Riding Record, Liability Only Coverage, Touring or Cruiser Cycle

These elements will set you up for the lowest insurance costs for your motorcycle. Riders above the age of 25 with a good riding record usually get good prices. Insurance Rates usually decrease as you age until you reach 70. A combination of those elements with liability only coverage and a touring or cruiser motorcycle, and you’re looking at $100–$500 annually for insurance.

25 to 60 Years Old: Good Riding Record, Full Coverage, Cruiser or Touring Cycle

Adding physical damage protection your policy can have a big influence on your policy’s premium, as can the age and how much the motorcycle costs. Riders wanting full coverage usually has newer and higher-valued motorcycle to get insured, and the more costly your motorcycle is, the more it typically costs to get insured. Anticipate on adding a couple hundred dollars annually to your policy premium for full coverage insurance on a more costly motorcycle, driving the average cost to $400–$800 annually.

25 to 60 Years Old: Not so Good Riding Record, Full Coverage, Touring or Cruiser Cycle

A horrible riding record can really drive the cost of motorcycle insurance up. Motorcycle riders are required to be especially responsible and careful when riding, and a bad riding record reflects badly on your possibility for a future claim. How bad your riding record is, certainly makes a difference in the overall cost. It would possibly be best to get a couple of quotes to find a rate for your specific circumstances.

Your riding safety record is established on your history of traffic infractions and accidents from the past 5 years.

16 to 24 Years Old: Good Riding Record, Full Coverage, Sports Cycle

Younger riders are typically lured to fast sport-like motorcycles, and the motorcycle’s somewhat low-price tag adds to their attraction. What they might not take into consideration is the cost of getting their new ride insured. A young rider combined with full coverage and a sports motorcycle may increase the average cost of the insurance easily above the $1,000 mark, with some rates even going beyond $3,000. A good riding record makes the cost lower than a bad riding record, but the cost may still be high.

The riders age is not the only experience related factor that is involved; how long you have been riding is also considered, so a rider in their 20s that has been riding for 8 years could pay less than a brand-new rider in their 30s.

Other Discounts on Motorcycle Insurance Rates

Insurance companies might offer discounts for paying your yearly premium in full, devoid of using an installment plan, and being a member of a riding organization or other similar groups. increasing your deductible and deciding not to get insurance add-on coverage will also decrease the overall cost. And particular safety features, like anti-theft systems and, anti-lock brakes, including GPS theft-recovery, also makes a difference.

States that have the Best Motorcycle Insurance Rates

North Dakota – $382, Iowa – $414, Wyoming – $439, Nebraska – $469, and South Dakota – $469 had the lowest yearly motorcycle insurance rates in 2020. Each of those states are located in the Great Plains or Midwest and have populations that puts them in the lower half of all U.S. states.

States that have the Worst Motorcycle Insurance Rates

California – $1,360, Louisiana – $1,175, Michigan – $1,083, New York – $969, and Arizona – $935 had the highest yearly motorcycle rates. Those states have larger populations and typically warmer weather, enabling motorcycle fanatics to ride a lot more months yearly.

Motorcycle Insurance Quotes

From offering liability protection to you and your family to helping you get reimbursed for personal property damage, motorcycle insurance provides many types of coverage. Learn more about Motorcycle Insurance Coverage or get a free motorcycle insurance quote from Klimes Insurance today.

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