The average motorcycle insurance cost at 18 is considerably higher than drivers at the age of 30. However, there is a strong reason the price is so high.
Why is Motorcycle Insurance Expensive at 18?
The reasons why motorcycle insurance for the 18-year-old rider is so expensive is mainly a lack of driving experience. The people in between 18 to 25 years are the most likely to be involved in accidents because they are still developing the driving habits that keep them out of danger. Because 18-year-olds are some of the most likely to be involved in accidents, the premiums are much higher for that age group.
As you build on your driving record, however, the rates start to go down as long as you are free of accidents or making claims on your insurance policy. Statistically speaking, by the age of 26 the premiums go down considerably and by the age of 30, you will be paying a fraction compared to what you were at 18. This is because people over 30 are statistically the safest drivers with the least number of accidents.
How to Choose a Suitable Policy?
To start looking for the right policy for your needs, it begins with whether you own the motorcycle outright or whether you used a loan to make the purchase. This is because the lender is going to want insurance that covers the bike whether the accident was your fault or not to shield their investment.
If you own the motorcycle outright, then you can choose from a number of different policies depending on your needs. Most states require you to have a collision, liability, and uninsured motorist which means that whoever causes the accident will pay for the repairs. The major types of motorcycle insurance include the following;
– Bodily Injury Liability
– Uninsured & Underinsured
– Property Damage
– Medical Payments
– Personal Injury
– Accessory & Roadside Assistance
For 18 year old, collision, liability, and an uninsured motorist is generally less expensive than comprehensive. By abiding the minimum state requirements, you can pay less for your insurance and still get good coverage. Also, you can also raise the deductible and take designated safety or motorcycle driving courses that will also lower your rates.
You will want to talk to your insurance agent for more information about which type of policy is right for your needs.
How We Work with Young Drivers?
We help in getting affordable bike insurance for young drivers by finding better online rates and saving on premiums. Our services work for you starting with a free online quote that provides you with a lower rate for your motorcycle insurance. Besides, we can show you ways to save money while getting the same reliable coverage that you deserve.
Don’t wait, act today and let us help you get the best coverage for your motorcycle at the lowest rates. You can save money while still getting the proper coverage if you call or contact us today!