It is a fact that insurance premiums for motorcycle riders are much higher than for those who drive cars. This premium varies from state to state and is determined by your biking skill, age, and driving record. How much does motorcycle insurance cost? You will find out soon.
If you bike is a powerful sports bike, you will pay a higher premium for your coverage. There are some sports bikes that are particularly more expensive to insure because they are of a higher risk. In other words, if you drive a sport bike, your premium will be higher because you are considered a higher risk. Sports bikes go for about $1000 or more. In general, a high-performance bike such as a Harley Davidson, which goes faster and farther, will cost you more to insure.
Insurance companies consider the vehicle in which you are operating as a measure of risk. They base this risk on the design of the bike, engine capacity, weight, speed, and its safety features. Bikes that have strong safety features, powerful engines, heavy weights, and expensive parts and accessories may be more expensive to insure.
So how much does motorcycle insurance cost? First, determine the amount of your annual insurance premiums. The higher your annual premiums, the higher your premiums will be. If you are on a fixed income, you will be expected to budget your motorcycle insurance costs into your monthly income. Insurance companies do not want to insure riders whose incomes are far from what they would need to cover the premiums.
A lower than average insurance premium is one way to reduce your motorcycle insurance cost. Some factors that contribute to your premium price include your age, gender, driving history, marital status, and whether or not you are a full-time student. In many areas, the younger drivers are considered to be higher risk than those who are older, and full-time students are considered to be higher risk than those who are not. One reason that younger drivers are charged higher premiums is that they are typically inexperienced and do not have a lot of experience driving on the road. Taking driver safety classes, enrolling in a defensive driving course, or passing a comprehensive test can help to reduce your premiums.
Changes in your lifestyle can also affect the amount of your insurance premiums. If you live near popular tourist destinations, such as Florida or Hawaii, your motorcycle insurance premiums may be higher than if you lived closer to another city. Another factor that can raise your insurance costs is how many times you drive your motorcycle. If you use your motorcycle very often for short trips or daily commuting, you may qualify for a reduced deductible. If you are willing to enroll in a defensive driving course, this can help to lower the amount of your premiums.
Many motorcycle insurance companies offer discounts to new customers who are willing to compare quotes with several insurers. You can get quotes from several different insurers online or by telephone. When you compare quotes, be sure to compare coverage levels and the deductibles that you will be required to pay. Comparison shopping will make it easier for you to find the most affordable premiums.
If you have one or more tickets or accidents on your driving record, you will be considered a higher risk than someone who has a clean record. The insurer will charge a higher premium for your protection. On the other hand, if you have no tickets or accidents, you will likely qualify for a lower premium. Insurance companies base their premiums on several factors, including your risk level, the type of vehicle you own, the miles you drive annually, and whether or not you have installed a security system or anti-theft device.