Average Insurance Rates For Motorcycles

In some ways motorcycle insurance functions similarly to car insurance.

Average insurance rates for motorcycles. States have made motorcycle insurance legally mandatory every rider benefits from active coverage regardless of local requirements. As our figures will show you are expected to pay between 50 and 500 a month. The average premiums do not control for location years licensed type of motorcycle or any combined discounts. The average cost for motorcycle insurance in the u s.

For 2020 was 702. Good driving record liability only coverage cruiser or touring motorcycle. Average cost of motorcycle insurance by type of cover the average cost of cheap full coverage comprehensive motorcycle insurance is around 340 per year if you opt to pay monthly for a 30 year old rider on a 125cc bike with an average compulsory excess around 340. 2 here are some examples of drivers with various characteristics and the amounts they might expect to pay for a year of premiums.

Note that the rates above don t apply to m1 riders who can only get insurance from facility association. It offered the lowest overall motorcycle only rate of 746 per year which was 46 less than the statewide average. Of course your premium ultimately depends on you your motorcycle and your riding habits. M1 rates for most bikes start around 3 800 a year 7 300 if you re under 21 years old.

The average annual rate for motorcycle insurance is 519. But we will provide the average sourced from different motorcycle companies considering the age of riders and the model of bikes. The best motorcycle insurance companies should strike that perfect balance between strong financial ratings diverse coverage options and plenty of discounts. That can vary by city and state by the simple fact that each state can require different levels of coverage.

Riders who qualify for common motorcycle insurance discounts such as safe driver multiple policy and safety education can chop anywhere from 5 to 20 or more off their quoted rates. Markel insurance is our top pick for motorcycle owners who prioritize motorcycle only coverage over bundling their insurance policies together such as if they don t own a car. As pointed out earlier how much you pay for motorcycle insurance is determined by a lot of factors. The below graph shows the average by state using a 45 year old male as an example.