How Much Is Motorcycle Insurance?

Comparing motorcycle insurance policies can be an arduous, time-consuming task but a necessary one for die-hard bikers. Not many people can tell the difference between an ordinary auto policy and a motorcycle policy. The bottom line is this: they're not the same when consumers get down to the policy's details – what the coverage will and won't cover.

Overall, motorcycle insurance costs can vary widely, depending on which carrier is offering the coverage.

One policy could offer full coverage at a price that looks amazing at first. Still, after filing a claim, the reality is that policyholders may need to pay significant amounts out-of-pocket for repairs.

It goes without saying that this situation defeats the entire purpose of carrying quality motorcycle insurance coverage.

Consumers should never assume that motorcycle insurance is cheap at a glance. That's simply not the case since most insurers categorize motorcycles in a high-risk category. Still, that doesn't mean that consumers have to pay an arm and a leg for the right coverage.

Here's what consumers would be wise to consider when researching motorcycle insurance quotes online.

When it comes down to price, how much does motorcycle insurance cost?

Simply put, the average cost of motorcycle insurance nationally is about $720 per year, but the price in some states like California is way higher than others. The reasons for this discrepancy are complex, but they all boil down to the level of risk a carrier is willing to take cover.

After all, insurance companies profit by covering motorists with a clean driving record who don't file many claims.

But motorcycle policies are different because the price considers hard data that avid bikers might find hard to believe: accidents involving motorcycles are more likely to cause severe injuries and even death.

Anyone who doubts this fact can look a long look at the statistics if they need convincing. According to the Insurance Information Institute, motorcyclists were 27 times more likely to die than passenger car drivers after an accident.

Not only that, the number of unfortunate incidents involving motorcycles has hardly changed over the last decade.

Actually, this trend is good news for bikers shopping online for insurance. Once consumers know the average price of motorcycle coverage in their state, they can make sound decisions based on price.

Although the general rule of thumb still applies: bikers should generally expect to pay more for an insurance policy due to the inherent risk of bodily injury.

What factors can affect the price of motorcycle insurance coverage?

Generally, the most common factors that affect an insurance policy's cost are easy to categorize. Consumers only need to know what to watch out for before agreeing to buy a motorcycle policy with a high price tag.

Location

As touched upon above, a motorcycle owner's home state matters when comparing insurance rates. Each state administers insurance markets differently; some states like New Hampshire, Montana, Florida, and Washington don't mandate that bikers carry insurance.

It's curious that some states require motorcycle insurance but don't have a law that requires bikers to wear a helmet. This scenario may be great for the state's bottom line, but insurance companies operate differently.

Bikers can almost guarantee that if their state doesn't require a helmet, they'll end up paying more for comparable insurance in a neighboring state.

Driving record

Just like auto insurance coverage, the price of quality motorcycle insurance depends on someone's driving record. It's common knowledge that younger drivers, whether they're operating a sedan or a bike, are in a high-risk category.

But as drivers go a long time without filing a claim, the policy's price goes down over time, and the same applies to bike insurance policies.

Also, certain felonies like driving while intoxicated or driving under the influence of a controlled substance can raise the price of a motorcycle-specific policy.

The type of motorcycle

Like auto insurance, it'll cost more to insure a high-performance bike than a road cruiser. Mainly, the motorcycle's Blue Book value determines how insurance companies decide what any vehicle is worth, and bikes are no different. 

The good news is that some insurance companies offer better rates on bikes with a lot of modern safety features like rear lift-off prevention or traction control.

It's a myth that the size of the motor is what decides the price of insurance. It's actually the make and model of the bike that matters most.

Typically, the order from the least expensive to the most pricey goes like this: cruiser, touring, sport, and exotic.

Given that consumers have to take many factors into account, what's the best way to compare and shop for motorcycle insurance?

Where can consumers go shopping for and compare motorcycle insurance quotes?

At the end of the day, how much is motorcycle insurance really? What's the final bottom line cost for full coverage?

Consumers can benefit significantly from a comprehensive platform to compare rates side-by-side when it comes to shopping online for motorcycle insurance coverage.

Fulfilling that need, QuoteLab.com gives consumers access to an easy-to-use tool, making it much faster to determine which motorcycle policies have the best value for the price. It's a new online insurance marketplace where consumers can compare information from many insurance carriers.

Click here to start comparing motorcycle insurance policies today!