What Is the Average Cost of Motorcycle Insurance?

Image by Daniel Fishel © The Balance 2019

Determining the average cost of motorcycle insurance is not an easy task. So many variables go into determining the cost it is hard to pinpoint what you might be looking at for the overall cost. What motorcycle you insure, what coverage you select, where you live, your driving record and your age are only a portion of the variables that go into calculating the cost of your insurance. Take a look at a few different scenarios and the average cost of motorcycle insurance for each.

25- to 60-Years-Old: Good Driving Record, Liability Only Coverage, Cruiser or Touring Motorcycle

These kinds of variables set you up for the lowest motorcycle insurance costs. Drivers above the age of 25 with a good driving record usually qualify for good prices. Combine those factors with liability only coverage and a touring bike and you are looking at $100–$500 a year for motorcycle insurance.

You can reduce your rate further by purchasing motorcycle insurance through your auto insurance carrier, owning a home, having good credit, and taking a motorcycle safety course.

25- to 60-Years-Old: Good Driving Record, Full Coverage, Cruiser or Touring Motorcycle

Adding physical damage protection to a motorcycle policy can have a big impact on a policy’s premium. The type of motorcycle can also make a huge difference. Often people requesting full coverage have a newer higher valued bike to insure. Plan on adding a few hundred dollars a year to your policy premium for adding full coverage to your policy pushing the average cost to $400–$800 a year.

Raising your deductible and opting out of insurance add-on coverage will lower your overall cost. The more expensive your bike, often the more it costs to insure. Safety features and anti-theft devices do make a difference in cost too.

25- to 60-Years-Old: Bad Driving Record, Full Coverage, Cruiser or Touring Motorcycle

A bad driving record can really push the cost of motorcycle insurance up. Motorcycle riders need to be extra responsible and cautious while behind the handlebars and a bad driving record reflects poorly on your potential for a future claim. The degree in which your record is bad certainly makes a difference in your overall cost. It would probably be best to get a few quotes to determine a rate for your specific situation.

16- to 24-Years-Old: Good Driving Record, Full Coverage, Crotch Rocket Sports Motorcycle

Do not attempt! Well, at least I wouldn't. Young riders are always lured to fast sporty motorcycles especially because they are often sold with a relatively low price tag. What they do not consider is the cost of insuring such a bike. A youthful rider combined with full coverage and a sports bike can lead the average cost of motorcycle insurance easily above the $1,000 mark, with some even exceeding $3,000 a year depending on other circumstances. Sure, a good driving record will make the cost lower than a bad record, but the cost will still be very high.

Different states have different rates. Keep in mind the average cost is just an average and it does not replace an actual quote. You could find yourself being on the high or the low end depending on your experience, location, and even marital status. Motorcycles are often cheaper to insure than cars and certainly can be a great gas saver. Keep all aspects of motorcycle ownership in mind when considering making a purchase.

Which States Have the Best Motorcycle Insurance Rates?

Hoping your rates are at the lower end of the spectrum? The more people riding motorcycles in your state, the less your insurance will cost. More insured bikes lead to lower motorcycle insurance rates. The states with the most riders and often the best rates for insurance are North Dakota, Iowa, and Oklahoma.

Which States Have the Worst Motorcycle Insurance Rates?

Those of you living in the states with the highest costing insurance probably already know it. If you live in Louisiana, Texas, Florida, or Michigan you can expect to be paying top dollar for your motorcycle insurance coverage.

Michigan Rider Reminder

As of March 2018, the cost of the MCCA fee in Michigan is $192 per year per vehicle, including motorcycles. The exact dollar amount could vary some based on carriers tacking on processing fees, but it is an extra expense added onto all Michigan autos and motorcycles.