Why Is Motorcycle Insurance So Cheap?

Motorcycles are less expensive to insure than vehicles for several reasons. When determining premiums, insurance firms consider elements such as safety ratings. Cars are much more expensive to insure than motorcycles, despite the fact that they are typically regarded safer to drive.


We know you love to ride, but did you realize that where you keep your motorcycle has a big impact on your insurance rate? Motorcyclists in colder states with shorter riding seasons are more likely to be involved in accidents and file insurance claims, resulting in reduced insurance prices. In warmer states, on the other hand, you’ll pay more for motorbike insurance because there are more opportunities to ride, which leads to more accidents and claims.

Age and riding experience

As you get older, your rate tends to decline until you reach your 70s. Teen motorcyclists are subject to higher motorbike insurance rates since they pose the highest risk to insurers. Your age, however, does not necessarily reveal the complete story. Motorcycle insurance may be more expensive for an older, inexperienced rider than for a much younger, more experienced rider.

Frequency of use

You’ll pay more than a casual weekend rider if you cycle to and from work. Furthermore, using your motorcycle for commercial purposes may exclude you from obtaining a personal motorcycle policy, necessitating the purchase of a business policy.

When calculating premiums, several insurers also take annual miles into account. The higher your rate, the more you ride.

Speeding and traffic tickets

Whether the violation occurred in your automobile or on your motorcycle, a speeding ticket will almost certainly raise the cost of your motorcycle insurance. In most places, offenses fall off your driving record after three years and have no effect on your insurance rate.

Accident and claim history

Any auto or motorcycle accident on your driving record will almost certainly raise your motorcycle insurance premiums. Although at-fault incidents are more expensive, any claim might have a negative impact on your insurance rating.

Type of bike

When comparing motorcycles in the same class, larger engines cost more to insure since high-performance bikes are more likely to be involved in accidents.

Coverage selection

Comprehensive and collision coverage will be more expensive than the state’s minimal liability coverage. The cheapest policy is a liability-only policy, but it won’t cover the cost of physical damage to your bike. Progressive also offers additional customized coverages, including as accessory coverage, carried contents/personal possessions, and enhanced injury protection, which may raise your motorbike insurance quote.

The typical cost of motorbike insurance is also affected by your deductible. The larger your deductible, the more money you’ll have to pay out of pocket in the event of an accident, but your total premium will be cheaper. And the other way around.

Who has the cheapest rates on motorcycle insurance?

Nationwide has the most affordable motorcycle insurance of all of the companies we contacted. The average cost of a Nationwide policy is $593 per year, which is $128 less than the national average of $721.

Do motorcycles have high insurance?

Motorcycle insurance in the United States costs an average of $1,173 per year for a full coverage policy. Motorcycle insurance, like auto insurance, is more expensive when you add more types of coverage and reduce the deductibles you’ll have to pay if you’re in an accident.

Why are motorcycles so expensive to insure?

So, what elements can influence the price of your motorcycle insurance? There are various aspects to consider. Let’s take a look at each one individually.

  • Motorcycle insurance is generally more expensive in northern states, with a few exceptions. This is due to the fact that the riding season is shorter in those states. Riding season is practically 365 days a year in Southern California, for example. In North Dakota, on the other hand, your bike will spend the majority of the year in your garage, where it will be safe.
  • Age and riding experience — Younger motorcyclists, like automobile drivers, will pay more for insurance. Riding experience has a role as well. As a result, a 50-year-old first-time biker will pay more than a 22-year-old with four years of expertise.
  • Speeding and traffic tickets – If you have a history of traffic offences, your insurance will be more expensive. The more violations you have and the more serious they are, the higher your rates will be. However, most infractions are expunged from your record after three years. If you follow the rules of the road, you’ll get the best motorbike insurance prices.
  • History of accidents and claims – Your insurance rates will rise as a result of a car accident. Even claims that aren’t tied to an accident might raise your premiums. Accidents and claims will, in most situations, disappear from your record after seven years.
  • Vehicle usage – Most insurance companies will consider how you use your motorcycle. You might expect to pay less as a weekend rider than someone who commutes by bike.
  • Your prices will also be affected by the kind and engine size of your bike. The bigger the engine, the more you’ll spend for insurance. Sportbikes will cost more to insure than cruisers and touring bikes of the same displacement. Furthermore, higher-priced bikes will cost more to insure.
  • Type of coverage – Your costs will vary depending on the type of coverage you get. A state minimum policy will be less expensive than a comprehensive policy with high limits of coverage. A large deductible can also save you money, but you’ll have to pay more if you need to file a claim.
  • Credit – When giving you a quote, many insurance providers, such as GEICO motorcycle insurance, take your credit rating into account. However, don’t worry about shopping around; an insurance quotation isn’t considered a hard check, so getting numerous estimates won’t harm your credit score.

Can you insure 2 motorcycles?

Perhaps you ride a motorcycle for your everyday commute and have a second bike ready to go for weekend leisure rides? Or maybe you’re the proud owner of a number of machines. Insuring them with a multi-bike insurance could be a practical and cost-effective alternative.

Most multi-bike policies will cover a variety of bike kinds and models, including classic, sports, superbikes, and scooters.

Multi-bike insurance can be useful because they simplify the coverage for your bike collection. It keeps things easy by requiring only one premium payment and a single renewal date.

Is motorcycle cheaper than car insurance?

The sort of motorcycle you ride has a significant impact on your insurance premium. The Most Important Takeaway Motorcycle insurance costs are normally at least 50% lower than automobile insurance premiums because motorbikes are often less expensive, cost less to repair, and cause less property damage in an accident.

Is Geico good for motorcycle insurance?

Geico motorcycle insurance is a great way to protect your ride. Geico’s rates are among the lowest of the firms we surveyed, and the company has a solid reputation in the market. AM Best has given the company an A++ financial strength rating, suggesting that it has a strong ability to pay claims.

Geico has the most affordable coverage alternatives for minimal protection that we’ve seen. It also has affordable full coverage motorbike insurance for high-risk motorcyclists.

What is a comprehensive insurance?

When you get comprehensive coverage, it helps cover the cost of damages to your vehicle that aren’t caused by a collision. Theft, vandalism, hail, and hitting an animal are all covered with comprehensive coverage. For example, if you are driving and struck a deer, comprehensive coverage would cover the damage. Comprehensive coverage does not apply if you swerve to avoid hitting a deer and hit a tree because this is considered a collision with an item.

You can add comprehensive coverage to your policy to help protect your vehicle. Unlike some other coverages, comprehensive does not have a limit. The maximum amount it will pay is determined on the vehicle’s real cash worth. Your chosen deductible will be your responsibility to pay.

Is it worth getting comprehensive motorcycle insurance?

In some cases, though, it’s more cost-effective to invest in greater coverage, even if it comes at a higher price. Here are three compelling reasons to purchase comprehensive motorcycle insurance to safeguard your ride.

The first reason to purchase comprehensive motorcycle insurance is that you do not yet own your motorcycle outright and your lender requires it. You have to agree to acquire comprehensive insurance in order to secure the loan.

The second reason is to protect a high-value bike against theft, which is a typical occurrence with many high-end bikes, as well as non-collision damage caused by weather, a fallen tree branch, or a variety of other unforeseen incidents.

Comprehensive insurance will also cover you in the event of an accident with an animal, which is normally not covered by standard motorbike insurance.

The third good reason to get comprehensive bike insurance is if your bike gets a lot of use. If you’re heading cross country and/or putting a lot of miles on your bike through daily commuting or other trips, your hazards increase dramatically simply because you’ll be on the road for longer.

In most cases, comprehensive coverage is not purchased without collision coverage. Collision insurance covers damage to your bike caused by accidents (collisions), whereas comprehensive insurance covers damage caused by most other causes.

Keep in mind that comprehensive and collision are “twins” that almost always go together because they are complementary.

Also keep in mind that both comprehensive and collision insurance have deductibles, and the bigger your deductible, the lower your premiums. It’s a delicate balancing act to ensure that your coverage is both properly protective and inexpensive.

Next, if you’re going comprehensive (or even if you’re not), it’s usually a good idea to raise your liability coverage because the $10,000 minimum needed by the state of Florida is sometimes insufficient if you’re found liable for physical injury and property damage as a result of an accident.

The following are five additional add-ons to consider for your comprehensive motorbike insurance policy:

  • UM and UIM are acronyms for “University of Michigan” and “University of Michigan Uninsured and underinsured motorist insurance is inexpensive to add on and protects you from the many uninsured and underinsured drivers on Florida roads.
  • Put money aside for insurance. Lay-up coverage provides additional protection against motorcycle theft while your motorcycle is parked in a storage facility (usually for the winter.)
  • Coverage for custom components and accessories. Most comprehensive insurance already contain this, providing necessary coverage for your customized parts and accessories, but you can raise the amount.
  • Coverage for trip cancellations. This covers additional costs incurred if your bike breaks down more than 100 miles from home.
  • Insurance for transport trailers. This is an excellent addition if you travel with your bike on a trailer.