Key takeaways
- Average cost: Full coverage in the U.S. averages around $33 per month or about $399 per year. Liability only policies are usually much cheaper.
- State differences: Costs vary widely depending on where you live. Some states are significantly more expensive than others.
- Rider factors: Younger riders tend to pay much higher premiums compared to more experienced riders.
- Bike factors: Engine size, type, and value all influence how much you pay for insurance.
- Other factors: Coverage limits, driving history, credit profile, mileage, and deductibles all affect your premium.
Average premiums
The average cost for full coverage motorcycle insurance in the United States is around $33 per month. This is based on a typical mid range bike with a clean driving record and good credit.
Liability only cover can be much cheaper, sometimes as low as $10 to $20 per month depending on the rider and location. For a detailed breakdown of average costs and how they are calculated, see costs here.
What affects the price
- By state: Insurance costs depend heavily on local factors such as traffic, theft rates, and healthcare costs. Some states are much more expensive than others.
- By age: Younger riders usually pay significantly more. As you gain experience, your premiums tend to decrease.
- By bike type: High performance bikes generally cost more to insure than smaller or less powerful models.
- Driving history: Accidents, claims, or traffic violations can increase your premium.
- Coverage choices: Higher limits and additional cover options will increase the cost of your policy.
What you might pay
- A basic liability only policy can cost around $100 to $200 per year for an average rider.
- A full coverage policy for a mid value bike often falls between $300 and $500 per year, with higher costs for newer or more expensive bikes.
- Motorcycle insurance is usually cheaper than car insurance due to different risk factors.
How to keep costs down
- Shop around: Compare quotes from different insurers, as prices can vary significantly for the same level of cover.
- Look for discounts: Completing rider courses, insuring multiple bikes, or bundling policies can reduce your premium.
- Limit usage: Lower annual mileage can help reduce costs with some insurers.
- Adjust cover: If your bike is older and paid off, you may choose to reduce coverage to save money.
- Ride safely: Avoid accidents and traffic violations to keep your insurance costs lower over time.
The cost of motorcycle insurance depends on many factors, but understanding what affects your premium puts you in a better position to manage it. A bit of planning and comparison can go a long way in keeping your costs reasonable while still staying properly covered.