The motorcycle insurance cost for an 18-year-old driver is considerable because of many factors. The statistics show that teens are the most likely to become involved in accidents due to their lack of experience and motorcycle accidents tend to cause more personal injury as well. The result is that motorcycle insurance tends to be considerably higher for teen drivers as compared to adults over the age of 25. So, how would teenage drivers help themselves to get an affordable motorcycle insurance? Well, we have discovered few ways that must help your purpose.
The good news is that there are at least four different methods which can be used to help lower the insurance rates. By employing one, two, three, or all four methods a teen driver can see the amount they pay drop considerably.
Arguably the most popular method of getting lower cost insurance for a motorcycle 18-year-old driver is increasing the deductible. This means more money out of your pocket in case of an accident, but that also translates into lower rates as well. This is because the insurance company will not have to pay until the threshold level of the deductible is reached.
If you can keep the amount of the deductible in your bank, then you should go ahead and choose to raise the amount since it will cost you considerably less each month.
Another proven method for lowering payments on motorcycle insurance is taking an approved driving course which may offer a discount of 5% up to 15% depending on the insurance company. A driving course provides the necessary experience to help young drivers get used to their motorcycles, how to conduct themselves while on the road, and what to do to avoid a potential accident.
Another way to lower your insurance premium is having a second driver on the policy that helps to bring down the rates. This means that the driver you add must have a good driving record and be of an age where they enjoy lower insurance rates, preferably over the age of 25. By having a secondary driver on your policy, you can lower the rates considerably although remember that the secondary driver will be affected if you decide not to pay your premiums while the policy is still in effect.
You can also be the secondary driver on your parents’ policy which can help keep your rates lower until you reach the age of 25.
For 18-year-old motorcycle insurance, the rates may be lowered if you maintain good grades in school. Maintaining a grade point average at or above 3.0 depending on the insurance company will result in rates that may be 5% to 25% lower that what you are currently paying. State Farm, for example, offers the discount at the 25% rate.
You will need a report card or letter from the school to confirm good grades. The reason for the discount is that drivers who maintain an excellent grade point average are less likely to be involved in an accident. So, improve your odds by raising your grades and getting a discount.