The average cost of motorcycle insurance is $75.00 per year although the actual cost of motorcycle insurance varies.
When buying motorcycle insurance the cost for the motorcycle insurance will vary depending on your age, the value of the motorcycle, the amount of motorcycle insurance cover you need or want and your age as well.
Also bundling your motorcycle insurance with other insurance such as home insurance, auto insurance, life insurance etc can help you save money on your motorcycle insurance.
Another factor that comes into play for the cost of your motorcycle insurance is your age and your driving record.
If you have a good driving record and are older then you will usually get better and cheaper motorcycle insurance rates.
Motorcycle insurance is generally less expensive than auto insurance, but it can still set you back.
The average national cost of motorcycle insurance is $60.00 to $75.00 per month, but some states have much higher average motorcycle insurance rates.
Your motorcycle insurance premium will also depend on factors like your age and driving history.
Because teen riders pose the greatest risk for insurers, they'll typically pay higher motorcycle insurance rates.
But your age won't always tell the whole story.
An older, inexperienced rider may pay a higher price for motorcycle insurance than a much younger, more experienced rider.
The cost of bodily injury and property damage liability, which are the most commonly required motorcycle insurance coverage's, is cheaper for motorcyclists than for car owners because bikers are less likely to cause substantial damage to other motorists and their property.
Sports bikes typically cost the most to insure and touring bikes cost the least.
Expect dirt bikes and trikes to have different rates, as they're separate models.
While the cost to insure a classic motorcycle can vary, older bikes tend to be less powerful and not as fast, making them less risky, so your liability insurance is likely to be cheaper than it would be for a new bike.
Many motorcycle insurers will not charge a cancellation fee if you decide to cancel your policy.
Some will even refund any premiums that have been paid, as long as the policy has not yet expired.
Motorcycle owners who drive cruisers will pay less than those who drive sport bikes or touring motorcycles.
This is because cruisers are heavier and have more protection around them, which means these motorcycles tend to be safer on the road and therefore cost less to insure (because they reduce risk).