When does Motorcycle Insurance Rate Go Down to Buy it at an Affordable Rate?

The amount you pay for motorcycle insurance is based primarily on risk factors. The risk factors associated with driving a motorcycle and a four-wheeled vehicle include your driving record, gender, where you live, experience or training, and the type of motorcycle being ridden.

However, your age is the most prominent and common risk factor for motorcycle insurance companies. And while it may not be fair to compare people of the same age in terms of their driving ability, it is the most common and reliable of factors in determining your risk of having an accident. The same is true for vehicle insurance.

The age at which motorcycle insurance tends to go down is 25. This is because both men and women who reach the age of 25 are far less likely to be in an accident than men and women below the age of 25. This is a statistical fact and leads to a drop in motorcycle insurance rates of up to 15% for women and 20% for men.

The higher drop for men is because men are more likely to get involved in motorcycle accidents than women before reaching 25. After reaching the age of 25, the chance of having an accident drops somewhat greater for men until both genders are close to the same. From age 25 onward, insurance rates are now more influenced by the individual’s driving record.

Why is my motorcycle insurance so high?

The average cost of motorcycle insurance across the US is $702 annually. However, that number can be deceiving depending on where you live. California has the highest average motorcycle insurance rate at roughly $1,360 per year. In contrast, North Dakota has the lowest at roughly $382 annually.

The stark differences are largely due to the rural nature of North Dakota and the fact that many motorcyclists store their motorcycles for the rough winter. You cannot get into a motorcycle accident if the bike is locked away in storage.

If you are under the age of 25, then the reason why your insurance premiums are so high is that your age group is the most likely to be involved in an accident.

Motorcycles are also far more dangerous to the driver and passenger because they offer no protection in case of an accident. Whether colliding with another vehicle or losing control and going off the road, the motorcycle driver is far more likely to be injured than a vehicle driver.

Vehicles offer an enclosed space protected by bumpers, doors, and frames. While injuries may still occur, the accident level generally must be severe before an injury happens. On a motorcycle, what might be a minor fender-bender can become a serious, even life-threatening injury because of the lack of protection.

Basically, motorcycles consist of an engine, two wheels, a gas tank, and you. A mistake that might cause a minor skid in a vehicle may result in a major motorcycle accident. Being on two wheels also adds to the danger because of the balance required.

Another significant factor is the type of motorcycle that you drive. Some motorcycles are in more accidents than others. That does not mean the motorcycle itself is inherently more dangerous. But it does mean that insurance companies use that knowledge to help them set proper premiums for their insurance from a risk assessment point of view.

Does motorcycle insurance go down when you turn 25?

The answer is yes if you maintain a good driving record. Given that, statistically, motorcycle drivers are far less likely to become involved in an accident once they reach the age of 25, your insurance should go down significantly.

However, if you have a poor driving record of multiple accidents or moving violations that result in getting tickets, you may not see a drop in your premiums. A low credit score is another factor in how expensive your premiums may become. The better the credit score, the lower the premiums will be.

If you can avoid accidents or at least not have more than one or two over your first several years of driving, you should see a drop in your premiums after you turn 25. If not, you should check with your insurance company to see what keeps the premiums high.

If you can identify what is causing the premiums to be so high, you may be able to address the issue. Ask your insurance agent what can be done to lower your premiums. Otherwise, if there is no good reason, shop around for another insurance company.

Does car insurance go down after the first year?

That depends on several factors as well. If you maintain a good driving record, a good credit score, and the same motorcycle, your premiums might go down during the first year of renewal. This will depend on the individual insurance company, but most insurance agents want to keep good customers who rarely if ever, get into accidents.

There are things you can do to reduce the premiums even more. You can take a driver’s course that the insurance agency recognizes. Assuming you complete the course, this will usually take 5% to 10% off your premiums.

Another way to reduce your premiums is to put your motorcycle up for winter. If you live in a part of the US with cold winters, storing your motorcycle and keeping it off the road will save you a considerable amount.

Also, consider bundling your motorcycle insurance with other insurance carried by the same company. Many insurance companies will provide a 10% to 25% discount or more, depending on the type of bundled insurance. This includes motorcycle, vehicle, boat, and homeowner’s insurance. Check with your insurance company to determine if bundling may be viable.