How Much Does Motorcycle Insurance Cost

Motorcycles are  fun to ride, but they also are dangerous. As dangerous as they are, motorcycle owners are required by law to have insurance coverage. So how much does motorcycle insurance cost?

One of the most common questions we receive from our site visitors is how much does motorcycle cost compared to standard auto insurance? Well, the fact is there is no exact answer. Many things go into calculating how much you pay for motorcycle insurance just as they do for auto insurance. Insurance companies use proprietary formulas to calculate what you should be paying each month for coverage.

Let’s take a look at some of the most common factors that dictate what you pay for your motorcycle insurance.

Past Driving Record – how well you have driven in the past and if you have had any accidents or tickets is a big factor in calculating you monthly insurance payment. If you have a clean record, chances are your monthly payment will be lower than someone with a bad driving record. The more tickets or accidents you have on your record will most likely cause you to have an increase in your monthly bill.

Is this your first motorcycle? – first time motorcycle riders are more of a risk than people who have experience. So if you happen to be buying your first motorcycle you may need to expect to pay a little more than a seasoned veteran. If you have been an owner of a motorcycle before and are just getting back in the game, you may be seen as a more trusted driver and receive a discount.

Location – which state you live in and if you are in a rural or city atmosphere is also a big factor. Just as with car insurance, different states have different laws when it comes to insurance. Where you live and the laws in that state will be heavy dictators of what your monthly bill will be.

Living Space – Insurance companies want to see if you are fiscally responsible and are more likely to give  a discount to a home owner than a renter. They also will provide discounts to those who own a garage to place their bike.

There are many, many other factors that go into determining how much motorcycle insurance costs. The factors listed above are just a small piece of each customer’s decision process. Things like state laws, credit score and others all go into figuring out your monthly payment.

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