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Higher credit scores can decrease your motorcycle insurance rate. The savings can be significant, especially if your FICO® number is above 720. Some exceptions apply based on where you live or the insurer offering the quote, but most riders will save when they can prove long-term financial responsibility.

Motorcyclists with excellent credit can reduce their insurance rates by up to 25% compared to those with a FICO score between 640 and 720.

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The opposite occurs for those with a FICO score below 600. If you have poor credit, your motorcycle insurance rates could double.

Requesting a quote for motorcycle insurance is a soft pull, which means the review doesn’t impact your credit score. You’ll then see how much you can save on a new policy.

Motorcycle Insurance Companies Don’t Use Unified Credit Tiers

A FICO score that qualifies as excellent, very good, average, or poor is different for each insurance company.

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Although the standards differ for each motorcycle insurance company, the credit range is typically close to the following for most providers.

  • Excellent Credit: 750 or higher.
  • Very Good Credit: A score of 640 to 720.
  • Average Credit: Above 600.
  • Poor Credit: Below 580.

FICO credit scores can be in range from 300 to 850.

Your credit score is calculated on five primary factors, each of which relates to your current situation and overall borrowing history.

The most significant factor impacting your credit score is your past payment history. It’s responsible for 35% of the FICO calculation. If you have missed several payments in the past, it can take up to seven years for that record to disappear.

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Bankruptcies can take up to ten years, and that factor is included in your payment history. Foreclosures or deed-in-lieu records take just as long to clear.

The amount you owe on different credit accounts is responsible for 30% of your score. If you have a lot of debt, the FICO calculation could be 100 points lower than where you could be without those payments.

Your quote will be based on what the FICO score says about your credit and where that information falls on the insurer’s internal charts.

How Can I Improve My Credit Score?

If your credit score is adversely impacting your motorcycle insurance quotes, there are some ways you can tack on some points relatively quickly. Those with poor or average FICO calculations tend to see the best results with the following efforts.

1. Pay the Right Credit Cards

Try to use less than 30% of your credit card limits at any time. Those with the highest FICO scores have 7% or less of their total amount used. Pay more on the ones with the biggest monthly balances while putting the minimum on the lowest.

2. Ask for a Higher Limit

If your credit score is about 640, consider asking your credit card issuer for a higher credit limit. You’ll lower the overall utilization rate when you have more available.

Once the higher limit gets reported to the credit bureaus, the FICO calculation should improve.

Some motorcyclists might need help to be able to apply for a new account or get a limit increase. In that situation, it helps to become an authorized user for another account. That authorization piggybacks the other person’s credit limits onto yours.

3. Pay Those Bills

Call your creditor if you miss a payment by more than 30 days. Pay the bill as quickly as possible, then request to have the information removed from your credit record. Each month an account receives a delinquent mark can hurt your score.

Even when you have collection accounts to manage, work on paying those off. Once the obligation is handled, your score can rise.

As a final step, make sure to review your credit report at least once per year to check for errors. Dispute incorrect information whenever possible, especially if the problem is pulling down your score. Those steps will help you get the best rate for your motorcycle insurance needs!

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Mike Navarette has more than a decade of experience in the auto insurance industry, but that's not his true passion. He loves getting on a motorcycle to explore roads he's never traveled. You'll find Mike in the garage working on something when he isn't helping clients or leaning into curves. It's sometimes a side hustle, more often a favor, but it keeps his hands busy doing something productive. Since the first time his father strapped on his helmet and took him for a ride, Mike has loved bikes. That passion, along with a desire to help others through a deep understanding of insurance policies, led to the creation of Motorcycle Ride Coverage.

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