If you already drive a car and decide to get a motorcycle license or endorsement, will that cause your rates to rise if you don’t own a bike?
Although every situation differs, insurers look at risk factors when offering a quote or formulating a rate. In most cases, having a motorcycle license can increase your premiums.
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Obtaining a motorcycle license signifies that you are legally allowed to operate a two-wheeled vehicle on the road. It also indicates that you are a newer rider with less experience than others.
Insurance companies often consider motorcyclists with under three years of experience at a higher risk of accidents. That often leads to a higher rate, even if you don’t currently own a bike.
How Much Will My Rates Rise with a Motorcycle License?
The extent to which your rates increase will depend on a variety of factors, including the following:
- How old you are right now.
- Your driving record from the past 1-3 years.
- The type of motorcycle you own.
- The coverage options you’ve chosen for your auto insurance.
Additional factors in your rate include where you live and any specific insurance policies that apply to your current coverage.
You can take a few steps to lower your premiums. Let the insurer know if you took an approved motorcycle safety course to earn your license or endorsement. They might need a copy of the certificate, but you can often qualify for a discount.
If you don’t own a motorcycle, consider purchasing one with a smaller engine displacement or a less powerful performance rating.
Until you purchase a motorcycle, the overall insurance rate for your plan might not increase significantly. The costs will still be higher when the policy updates because you want to ride a bike.
How Come Some People Don’t See Rate Increases?
Some drivers won’t see a rate increase with a motorcycle endorsement or a new license because the risk factors associated with their activities don’t put them into a different category for that insurer.
Your car insurance rates remain the same when you earn a motorcycle license or endorsement. The related factors associated with your driving record can increase your premiums.
Once you add the motorcycle to your insurance, you’ll see the costs rise to protect that equipment. From there, you can control costs with various discounts.
Each insurer has its own policies they follow regarding this situation. If you’re unsure how fair your quote or policy rate is, consider requesting an estimate from at least three companies to ensure you get the best price.
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