Every motorcycle owner needs motorcycle insurance, whether they’re a full-time rider or only occasionally ride on the weekends. The average cost of motorcycle insurance can vary depending on the coverage you choose.
Most states require that motorcycle owners have at least liability coverage. The minimum liability insurance requirement is the same as what’s required for car insurance.
In some states, there’s also a requirement to have uninsured/underinsured coverage. This coverage pays for an accident caused by a motorist who doesn’t have sufficient insurance. Beyond that, motorcycle insurance coverage options are similar to auto insurance. There are options that include collision, comprehensive, and personal injury policies. In some states, there’s medical payment coverage available.
Typically, states with the most insured bike riders also have the lowest motorcycle insurance rates, but other factors play a role as well.
- Average Cost of Motorcycle Insurance
- Factors That Affect Motorcycle Insurance Cost
- How to Save on Motorcycle Insurance
Average Cost of Motorcycle Insurance
Generally, the average cost of motorcycle insurance is highest where there are urban areas. These areas are crowded and congested and may pose the most risk to riders. States where there are higher death rates associated with motorcycle accidents, as well as states with higher theft levels, will also typically have the highest motorcycle insurance rates.
The least expensive regions of the U.S. are the upper Midwest regions and the Great Plains. There isn’t a lot of theft in these areas. There are fewer motorists on the roads, and there are fewer accidents in general. The least expensive states in regard to the average cost of motorcycle insurance are Iowa, North Dakota, Oklahoma, New Hampshire, and Wyoming.
Weather is another factor that can affect the average cost of motorcycle insurance at the state level. For example, Florida is generally more expensive because the weather allows for year-round riding.
For example, Progressive says its motorcycle insurance premiums start at $75 per year. But the U.S. average for motorcycle premium rates is $519 per year. While the majority of the least expensive states are all close to one another in the Midwestern region (except New Hampshire), the most expensive states are in different geographic regions.
The following is the average cost of motorcycle insurance per year in these least expensive states, according to HowMuch.net:
- North Dakota: $283
- Iowa: $323
- Oklahoma: $341
- New Hampshire: $352
- Wyoming: $354
The following states have the highest motorcycle insurance premiums on average:
- Louisiana: $896
- Texas: $749
- Michigan: $734
- Delaware: $734
- Florida: $689
Factors That Affect Motorcycle Insurance Cost
Along with state and regional factors, other individual factors can affect motorcycle insurance cost. They include:
- City: Even within a single state, there can be differences between cities in terms of motorcycle insurance cost.
- Driver age: The motorcyclist’s age is one of the biggest factors that plays a role in how much you’ll pay for motorcycle insurance. For example, if you’re 18, you’re likely to end up paying around $100 more per month than what someone who’s 50 will pay. The idea is similar to car insurance — insurers believe younger drivers have less experience, so they are more likely to be in an accident.
- Accident history: This is something that’s looked at with any type of motor vehicle insurance policy. If you have a good driving history, you’re probably going to pay less than someone with a less-than-perfect record.
- Type of bike: If you have a sportbike, you’ll likely pay more than someone with a cruiser or a touring bike. Specifically, insurers will look at the value of the motorcycle, its general safety features, the crash-related data, and how often that type of bike is stolen.
Factors that can also play a role in the cost of motorcycle insurance, also include mileage, credit score, and more.
How to Save on Motorcycle Insurance
There are different ways to save on motorcycle insurance, regardless of where you live. Riders can qualify for discounts such as multiple-policy and safe driver discounts. These can help save from 5 percent to 20 percent on motorcycle insurance rates.
Choosing a smaller or less powerful motorcycle can save money. Paying annually, adding security features to your bike, completing motorcycle safety courses, and storing it in a safe location are all other ways to help lower the motorcycle insurance costs.
Every motorcycle owner needs insurance, although rates vary. The average cost of motorcycle insurance tends to be the least expensive in the Midwest region and New Hampshire. However, even if you don’t live in these areas, there are ways to save such as bundling multiple policies and having safety features on your bike.
You can compare our picks for the best motorcycle insurance in our guide.