Average Motorcycle Insurance Costs
Find the cost of motorcycle insurance for your bike!
Updated on November 1, 2014
Average Monthly Cost of Insurance
Agents often get asked "What is the average cost motorcycle insurance per month?" Typically we would have to respond telling people that the average price of motorcycle insurance is affected by many factors. So many factors that the rate would not be the same for any two people even if they own the same brand and model of motorcycle.  Here is a quick explanation of some of the things that affect how rates are determined for street bikes, dirt bikes, and ATVs.


Risk Factors
An insurance companys' biggest job is to maintain minimum risk, though the business is established on the basis of danger and threat and minimizing the costs to their current policy owners. So virtually everything, even the most incredulous detail that may result in an accident, which would cause the policy benefits to be activated, increases the cost of not only motorcycle insurance, but also any type of insurance. With this being said, let us enumerate the factors that contribute to a higher risk.

High-powered sport bikes are more expensive to insure compared to cruisers, such as Harley Davidson, Can-Am, Victory, and Japanese manufactured street bikes. The speed, power and acceleration these high performance machines are closely evaluated by insurance companies, as higher speeds mean typically higher risks for the company as well as the riders. But this higher risk can be somewhat compensated for with a good driving education and safety training course. Maintaining a clean driving record and taking a motorcycle safety course can show the insurance company that you are a responsible adult and often results in lower average monthly cost for motorcycle insurance.

Your driving history matters. So try to keep that in mind when an insurance agent provides you an higher priced quote for your policy if you have been issued several tickets in the past. This has nothing to do with generalizing or discrimination, insurance companies just donít want to make a bad investment. Itís very bad for the business. Your age and experience in driving a motorcycle is also considered in determining the cost for your motorcycle insurance.

Statistics of road accidents differ in every state. For this reason, the cost of motorcycle insurance also depends on your location. Your chances of getting a low premium in an urban area may be lower than if you were in the countryside. Cheap motorcycle insurance is easier to find in rural areas.

Your need dictates the price you pay, this is true in every situation including getting a motorcycle insurance quote. By default, motorcycle insurance covers liability costs including damage to property. It is important to know that in some states, before you can ride legally, a good motorcycle insurance policy with sufficient liability coverage may be required. Including collision and comprehensive coverage in your motorcycle insurance may result to a higher cost.

The Governors Highways Safety Association (GHSA) has reported a dramatic decline of 10% in motorcycle and motorcycle related fatalities in 2009. From a reported 5,290 fatalities in 2008 to 4,762 in 2009, this has been the first decline in 12 years. Yet this does not indicate a consistent decline in the coming years. There is still a high possibility of bikers and even innocent pedestrians getting caught in a motorcycle accident. Surely, this does not discredit the need for any safety precaution or incidental coverage such as motorcycle insurance. 

A Bit of Penny Pinching

If you see a flyer for a road safety training course for $20, take it and consider it as a good investment for you to get a discount in buying a motorcycle insurance. You can also tie it up with your other vehicles to get a wholesale price. Any safety feature such as an anti-theft system installed to your motorcycle and a low mileage also lowers the cost. Anything that prevents the insurance company from shedding good money to pay for a broken fence or an injured pedestrian will, more often than not, give you better chances in getting a discount and a good price, except for being a motorcycle club member which may sometimes work the other way around. Also, paying a higher deductible results to a lower premium.

It would be very difficult to provide an estimate as to how much motorcycle insurance would cost since it really depends on several factors and the inclusions. But to give you a ballpark figure, it can be as low as $20 and can be as expensive as $300. If you are still wondering how much motorcycle insurance cost, use the form above to contact a local agent. The average cost of motorcycle insurance changes from state to state so if you are wondering "how much is motorcycle insurance for my bike", the best thing you can do is enter your zip code above to find the average cost for your area.
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