How Much Is Motorcycle Insurance: The Hidden Facts
I’m wondering how much is motorcycle insurance for your ride?
The average annual cost of motorcycle insurance in the U.S. for 2024 is between $500-$1,000, and that’s all dependent on age, driving history, model of the bike, and where you live.
But? Here’s the Catch: You could be shelling out as little as $200 or upwards of over $3,000 per year! So, how do you cut back those premiums? It is only by knowing these variables that you can spot the best motorcycle insurance deal.
Keep reading to discover what the current insurance cost is in the present market and how to trim down your premium and make more intelligent insurance choices!
What Does The Motorcycle Incident Usually Cover?
Have you ever purchased a car insurance policy? If yes, when I would assume you are pretty much aware of the incident. Motorcycle insurance is somewhat similar to the usual car insurance.
In general, motorcycle insurance offers you great liability coverage and protects you from of who have injured someone or maybe damaged their property. There are some states where insurers also offer liabilities for guest passengers, and the insurance mainly covers passengers as well.
There are some other aspects of motorcycle coverage that may be optional, such as:
Collision coverage, where you can pay for the repairs through insurance if your bike is damaged in a crash.
Comprehensive coverage helps you pay for the damage that is caused by theft, weather, fire or worse, vandalism.
Lastly, the uninsured or underinsured motorist coverage mainly pays your medical bills if the other driver, who is not insured, causes a crash.
Factors Affecting Motorcycle Insurance Costs
The motorcycle insurance rates keep changing in a continuous manner. It is almost impossible to know exactly how much you are going to pay for the insurance if you are not getting the quotes.
Similarly, you must stay aware of all the factors that play a crucial role in determining your insurance rates.
Age: If you are under the age of 25, then you are most likely to pay a steep insurance rate.
Gender: Usually, women are required to pay less for motorcycle insurance.
Marital status: If you are a married person, you are most likely to pay less than the single riders.
Experience: Do you have many years of experience in riding a motorcycle? Then you can pay lower rates.
Credit score: You can try keeping a high credit score. Then, you might have to pay a lower amount for the annual premiums.
Driving history: What is your driving history? Do you have any road violation records or accidents? If yes! Then you might have to pay more for the insurance premiums.
State of residence: You can easily expect higher insurance rates in countries like Texas, Michigan, and New York. In crowded cities, there is a large number of uninsured people and a high demand for coverage standards. Thus, these states are not cheap if you are looking for motorcycle insurance.
Type of motorcycle: Sports bikes usually cost you the most when it comes to motorbike insurance. On the other hand, the touring bikes might cost less. In addition to that, dirt bikes, as well as trikes, come with insurance costs and it depends on the bike model.
Winter weather conditions: The harsh winter weather can lead to reduced usage. It lowers the insurance prices than the warm states such as California.
How Much Is Motorcycle Insurance: The Average Cost
The average cost of motorcycle insurance usually depends on the types of coverage as well as the state. Usually, the average cost for a particular motorcycle insurance is $178 per month.
Now, there is a sharp difference between the coverage amount you are going to pay in warm weather states vs the cold weather states. Similarly, the type of driver you are, or your driving record has a huge impact on the motorcycle insurance cost.
For example, if you live in Wisconsin, you can expect to pay around $60 per month, which is almost $720 annually. In contrast to that, in California, you may be required to pay $514 per month or around $6168 annually.
As you can see, the amount is almost eight times more than the average cost of insurance in Wisconsin.
Here in the following table, I am providing you with the average insurance cost that you may have to pay in a month.
| State | Average motorcycle insurance cost per month |
| California | $514 |
| New York | $168 |
| Texas | $161 |
| Florida | $159 |
| Pennsylvania | $151 |
| Illinois | $117 |
| Ohio | $97 |
| Wisconsin | $60 |
The Comparison Between Motorcycle Insurance Costs in 2024: State by State
The average cost of your motorcycle insurance depends a lot based on where you stay. Similarly, the premium cost is affected by various factors such as demographic information, risk in that particular area as well as state law.
I have created a complete list of average motorcycle insurance costs and compared them with the average monthly premium value in the US.
| State | Percentage from U.S. Average | Average Monthly Premium |
| Alabama | +20% | $40 |
| Alaska | -21% | $27 |
| Arizona | +46% | $49 |
| Arkansas | +8% | $36 |
| California | +39% | $46 |
| Colorado | 0% | $33 |
| Connecticut | -15% | $29 |
| Delaware | +10% | $36 |
| Florida | +63% | $54 |
| Georgia | +33% | $38 |
| Hawaii | +13% | $45 |
| Idaho | -18% | $27 |
| Illinois | -12% | $29 |
| Indiana | -15% | $28 |
| Iowa | -44% | $18 |
| Kansas | -25% | $25 |
| Kentucky | +106% | $69 |
| Louisiana | +33% | $44 |
| Maine | -37% | $21 |
| Maryland | -4% | $32 |
| Massachusetts | -37% | $21 |
| Michigan | +15% | $38 |
| Minnesota | -17% | $28 |
| Mississippi | +44% | $48 |
| Missouri | +23% | $41 |
| Montana | -33% | $22 |
| Nebraska | -27% | $24 |
| Nevada | +17% | $39 |
| New Hampshire | -19% | $27 |
| New Jersey | -24% | $25 |
| New Mexico | +8% | $36 |
| New York | -19% | $27 |
| North Carolina | -33% | $23 |
| North Dakota | -44% | $18 |
| Ohio | -18% | $27 |
| Oklahoma | +11% | $37 |
| Oregon | -3% | $32 |
| Pennsylvania | -6% | $31 |
| Rhode Island | +4% | $34 |
| South Carolina | +31% | $44 |
| South Dakota | -40% | $20 |
| Tennessee | +25% | $41 |
| Texas | +39% | $46 |
| Utah | +28% | $43 |
| Vermont | -36% | $21 |
| Virginia | -8% | $31 |
| Washington | -36% | $29 |
| West Virginia | 0% | $33 |
| Wisconsin | -31% | $23 |
| Wyoming | -20% | $27 |
Tips for Reducing Motorcycle Insurance Costs
The motorcycle insurance can vary based on the provider along with the factors that I have mentioned earlier. The price might seem a little high to you. But! I know a few ways that can help motorcycle riders like you save on insurance costs.
So, if you are looking for a way to reduce your motorcycle insurance, you can consider the following tips:
Increase the deductibles: the higher deductible can help you to lower the insurance cost.
Consider joining a riding group: You can consider becoming a member of a riding group or a biker group. That may result in lower rates.
Try to reduce your annual mileage: If you can drive less, there is a chance that the cost of motorcycle insurance will be lower for you.
Look for the discounts available: The insurance providers often offer you great discounts.
Enroll in a motorcycle safety course: If you can enroll in a motorbike safety course, it will reducee your insurance cost.
Always compare your motorcycle insurance quotes: Before you finalize motor insurance, try getting quotes from different providers. See which fits you best based on the cost and coverage that you are seeking.
Look for the safety features: If you can successfully follow the safety standards, then it can be possible for you to decrease the insurance amount.
States with the Most and Least Expensive Motorcycle Insurance
I think by now, you have already developed an idea about how much motorcycles cost in different states. Where some states like California and New york have significantly high premiums, the other states like Wisconsin and Ohio have low insurance costs.
In this section, I will provide you with a quick overview of the most and least expensive states when it comes to motorcycle insurance.
The most expensive states:
Kentucky: Here in Kentucky, the average motorcycle insurance is around $69 per month. This state also has the highest premiums when it comes to full coverage. In addition to that, the cost here is almost 106% above the general US average rate.
Florida: The people of Florida pay around $54 every month. When it comes to the premium amount, Florida’s premium amount is around $63 more than the average full coverage for the standard bike insurance.
Mississippi: The monthly cost of $48 makes the place almost 44% more expensive than the average for the national average full coverage rate.
The least expensive states:
Iowa: Among all the states in the US, Iowa has the lowest average cost, which is around $18 per month, which is around 44% less than the average rate.
South Dakota: The premiums in South Dakota are around $20 each month. This is around 40% lower than the average rate.
North Dakota: North Dakota’s premium also comes within an affordable range, which is below the US average cost.
Case Studies And Examples
The cost of motorcycle insurance depends on a wide range of personal and vehicular factors. Here are some examples that explain and illustrate some of the variations in terms of premiums:
A Young Rider in a Cityscape.
A 25-year-old rider in New York City with a clean record pays about $1,000 per year for motorcycle insurance on a 2019 Honda CBR600RR.
City living poses added challenges, and riding in the city is considered a higher risk than riding in rural areas, so that adds to the premium cost. The rider opted for comprehensive coverage, too, so that added to the price.
Experienced Rider in a Rural Area
In one rural corner of Ohio, a 45-year-old rider has 20 years of riding experience besides an impeccable driving record. Now, he is paying a premium of just $350 annually for the 2015 Harley-Davidson Softail.
The low population density and few traffic hazards in such rural regions also make insurance premiums here relatively affordable, especially for those with such a high level of experience.
Wrapping It Up!
Motorcycling insurance itself comes at a highly variable cost with so many factors influencing it. The quote one finds can be improved by comparing what other insurers have while increasing deductibles.
And of course! It also includes the opportunity to take advantage of each discount available. Knowledge and proactive steps will ensure affordable motorcycle insurance at full coverage.
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