Motorcyclists under the age of 25 have a statistically higher risk of being involved in an accident compared to those who are 25 or older.
This trend also applies to automotive drivers.
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When insurance companies look at risk factors and how they apply, each comes up with a policy cost. Those with multiple risk factors pay more for their coverage, while those with fewer receive a lower quote.
Although it may not seem fair to compare a rider’s age instead of their driving ability, this data point is one of the most reliable factors in determining the likelihood of an accident.
How Much Does Insurance Go Down When You Turn 25?
The amount a motorcyclist’s insurance goes down after turning 25 depends on several factors, including their driving record.
Other factors that go into the eventual motorcycle insurance quote you receive include gender, the bike a person rides, and even where they live.
Men under the age of 25 are more likely to get into an accident on a motorcycle when compared to women or other gender identities. Guys see a higher rate drop once they reach 25 because they’re paying more per month than others.
Men can see their rates drop by 20% after their 25th birthday, while women and others see a reduction of approximately 15%.
Those rate drops occur because, after age 25, most insurance companies look at the individual’s record more than other factors.
What Can Cause Motorcycle Insurance Rates to Stay High?
Many young motorcyclists look forward to the day when their insurance rates drop. In California, where the median policy cost is about $1,500, a 20% reduction means putting an extra $300 in your pocket each year.
Some riders don’t see that much of a discount. A few might even see their rates stay the same or rise after celebrating their 25th birthday.
That’s because these factors play into the eventual rate quote motorcyclists receive from each insurer.
- Low credit scores indicate the possibility of higher risks.
- Each accident can cause rates to rise.
- Moving violations, including speeding tickets, contribute to a higher premium.
Most motorcyclists who avoid accidents (or have less than two) during the years before turning 25 usually see a drop in their insurance costs. If that outcome doesn’t happen, it helps to speak with your insurer directly to see why the rate is still high.
You can also ask other insurance companies for a quote to see if you can get a better rate elsewhere.
Will My Motorcycle Insurance Rates Go Down After a Year?
Besides keeping a clean driving record, young motorcyclists can often receive lower rates by maintaining good grades. If you are a full-time college, university, or high school student, try to get your grades at or above a 3.0 GPA to maximize your potential savings.
It can also help to take driver and motorcyclist safety classes to keep rates low. Numerous insurers sponsor or provide this resource and offer a discounted premium as a reward for passing the course.
Young riders should also consider staying away from sports bikes. It’s possible to lower premiums by up to 50% when riding a reasonably new motorcycle meant more for cruising than speed.
Although rates will still be higher for a motorcyclist under 25 than for someone above that number, there are ways to limit those costs. You can also request a quote from other insurers to see if another agency will provide a better rate for your coverage.