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Insurance

How Much Is Motorcycle Insurance?

Our analysis showed that the average cost of motorcycle insurance is $538 annually. However, premiums range depending on where you live, your age and what type of bike you ride.

The open road, the thrill of the ride—these are the things bikers live for. What’s not quite as thrilling, but equally important, is having motorcycle insurance.

Motorcycle insurance is required in most states, but it can be expensive. If you’re in the market for a new policy, you might be wondering, How much is motorcycle insurance? And how can I get the best deal? Good questions!

Just like car insurance, the cost of motorcycle insurance varies from state to state, provider to provider and even person to person, depending on what you need. Let’s look at some of what you’ll find on your search for motorcycle insurance and how you can get all the coverage you need at the lowest price.

Average Cost of Motorcycle Insurance by State

We compared policies across five of the top insurance companies and found that the average cost of motorcycle insurance is about $538 annually, with a range of $100 to $800 per year. But your premiums can be higher or lower depending on a lot of factors, just like car insurance. One of them is where you live.

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Each state has its own minimum requirements for motorcycle insurance, which can really impact your premiums. But talk to your insurance agent about your state’s requirements and if you need more than the minimum.

States with longer winters and short riding seasons tend to offer the lowest average cost for motorcycle insurance, while states with long summers and longer riding seasons tend to have higher rates. That’s why Southern states generally have the highest rates for motorcycle insurance. (That extra fun in the sun isn’t free.)

But there are some exceptions. Michigan and New York have colder climates, but their no-fault insurance requirements make them two of the most expensive states for motorcycle insurance on average. And Florida is a Southern state with a long riding season, but riders aren’t required to have motorcycle insurance at all.

Here’s how much motorcycle insurance costs by state:1

State

Avg. Annual Premium

State

Avg. Annual Premium

Alabama

$502

Montana

$367

Alaska

$389

Nebraska

$404

Arizona

$673

Nevada

$480

Arkansas

$615

New Hampshire

$352

California

$665

New Jersey

$573

Colorado

$534

New Mexico

$597

Connecticut

$389

New York

$537

Delaware

$734

North Carolina

$551

Florida

$689

North Dakota

$283

Georgia

$556

Ohio

$457

Hawaii

$458

Oklahoma

$341

Idaho

$509

Oregon

$501

Illinois

$533

Pennsylvania

$512

Indiana

$499

Rhode Island

$537

Iowa

$323

South Carolina

$639

Kansas

$432

South Dakota

$387

Kentucky

$515

Tennessee

$620

Louisiana

$896

Texas

$749

Maine

$380

Utah

$554

Maryland

$529

Vermont

$408

Massachusetts

$605

Virginia

$470

Michigan

$746

Washington

$488

Minnesota

$371

West Virginia

$618

Mississippi

$521

Wisconsin

$496

Missouri

$589

Wyoming

$354

What Determines the Cost of Motorcycle Insurance?

Besides where you live, a few other factors go into the cost of motorcycle insurance.

Your Age

Riders under 25 and over 75 are charged more for motorcycle insurance. That’s because before 25 and after 75 cognitive ability isn’t at its prime. We know that sounds demeaning, but there is some scientific truth behind it. And that’s how most insurance companies roll. However, between those ages, you should see lower premiums.

Your Relationship Status

In our comparison of five of the top insurance companies that offer motorcycle insurance, we found that married riders pay less for insurance on average than single riders. Sometimes the difference is over $100 per year.

Your Gender

In general, men pay more for motorcycle insurance than women. And not because insurance companies like women better. Men are statistically more likely to drive more miles and get into more deadly accidents than women.2 But cheer up, fellas! There are other things you can do to keep your rates low. (More on that in a minute.)

Your Riding Experience

Riders with more experience will have lower rates than those with only a couple seasons under their belt because they’re less likely to crash. So, take that as an invitation to get on your bike and gain some experience.

Type of Bike

Sport motorcycles are stolen and crashed most often, so they’re the most expensive to insure. The premiums for cruisers are a little lower, and touring bikes are the least expensive to insure. Next time you’re shopping for a bike, ask your insurance agent how the bike you’re looking at can affect your rates before you buy it.

High Mileage

Sometimes, more miles on your bike can drive your rates up. One reason is that high mileage vehicles are more likely to need repairs. And the farther you drive, the more chances there are to crash.

Traffic Tickets

Caught speeding? You won’t just be paying the price for that speeding ticket—you can also expect to see your premium go up, whether you were driving your car or bike. Just another reason to rein in that need for speed and slow down. (And just like when you’re pulled over in your car, things will go a lot smoother if you can easily provide proof of motorcycle insurance.)

What Does Motorcycle Insurance Cover?

When it comes to buying vehicle insurance, you want to get what you need without all the expensive extras. Here are some of the most common types of motorcycle insurance to consider:

Liability Insurance

Liability insurance won’t cover damage done to you or your property, but it’ll cover any damage you may do to someone else or their property in an accident. Every state has a minimum required amount of coverage for motorcyclists to have on their bikes, ranging from $50,000 to $175,000. (Except in Florida—they don’t require motorcycle insurance.)

But you’ll need to decide if you need more than that based on your bike, how often you ride and where you ride. Pro tip: You probably need more than the state minimum! It may sound crazy, but it’s easy to rack up tens of thousands of dollars in property damage and medical bills in a motorcycle accident.

Take Jake for example. He lives in California and has the state minimum liability insurance of $50,000. He’s in an accident with another motorcycle. The other guy is severely injured—plus his bike is totaled. Total cost: $65,000. Jake’s insurance will pay the first $50,000, but after that, he’s responsible for the other $15,000.

See why having enough liability insurance is so important? We recommend having at least $500,000 in liability coverage for your motorcycle—just like if it was your car.

Guest Passenger Liability

If you plan on riding with friends or family, guest passenger liability insurance will help pay your passenger’s medical bills if they get injured in an accident you cause. (Bad news: It won’t apply if you’re not at fault for the accident. That’s where the other driver’s liability coverage comes into play.)

Motorcycle Collision Insurance

In the event of an accident with another vehicle or even an object (like a tree or fence), motorcycle collision insurance will cover damages to your bike. Only your bike. It won’t cover medical bills for you or anybody riding with you.

Another thing to keep in mind: Filing too many claims can hike up your rates, so consider paying for small repairs out of pocket to keep your premium low.

Comprehensive Coverage

Fingers crossed there aren’t any thieves, fires or vandals around your bike. But if there are and something happens to it, comprehensive insurance will pay for the damages. It will also pay for damages caused by nature—like storms, natural disasters or animals that just waltz out into the road without looking.

Just remember, comprehensive insurance comes with a policy limit: It’s only good up to the bike’s value.

Coverage for Customized Motorcycle Parts

This will cover any damage to your custom paint job, trailers, sidecars or special add-ons. Most insurance policies only cover damage to factory parts, so this might be worth the buy if you’ve got a highly customized bike.

Uninsured/Underinsured Motorist Coverage

If you’re in an accident with a driver who doesn’t have insurance or is underinsured, this will usually cover your medical treatment, lost wages and some damage to your bike.

Having the right coverage will save you a world of pain and money in case something happens. Check with your insurance agent on what your state’s minimum requirements are before you buy. 

How to Get Cheap Motorcycle Insurance and Discounts

Now that we’ve answered, “How much does motorcycle insurance cost?” let’s dig into how to save money.

If you live in a state that has expensive motorcycle insurance or you just like a good deal (who doesn’t?), there’s hope. There are many ways you can save money on your motorcycle insurance by looking for discounts and taking steps to increase your safety as a biker.

Motorcycle Insurance Discounts

Motorcycle Training Discounts

Graduates of motorcycle training classes, like the Motorcycle Safety Foundation class, qualify for discounts on motorcycle insurance. This is great if you’re under 25 years old and paying more than the average, or you’re a first-time rider.

Bundled Insurance Discounts

Bundling your motorcycle insurance with your home or car insurance could save you money. Some insurance companies offer discounts up to 25%, so shop around for the best quotes.

Multi-Bike Discounts

If you own multiple bikes, consider bundling them together for a discount. Similar to bundling your home and auto insurance, it could be a way to save money and simplify managing your policies—because you’ll just have one policy for all your bikes.

Lay-Up Policy Discounts

Some daredevils ride all year. But if you’re more of a seasonal rider, a lay-up policy will suspend everything but your comprehensive coverage during the winter. That way, you’re only paying full price during riding season.

Owner’s Group Discounts

If you can, join an owner’s group for discounts on motorcycle insurance. Harley-Davidson’s H.O.G. offers this discount to its members, plus other benefits.

Safe Driver Discounts

The better you drive, the lower your rates. It’s true about all vehicle insurance but especially important on motorcycles since they’re considered a risky vehicle. So follow the road rules to save money (and stay safe!).

Transfer Discounts

Some insurance companies offer a discount on motorcycle insurance just for switching to their company. This is a good option if you notice your rates creeping up with your current provider.

Safety Feature Discounts

Having features like anti-lock brakes and theft recovery on your bike can qualify you for discounts on your insurance.  

Pay-in-Full Discounts

Most of the big insurance carriers provide a discount if you pay your motorcycle insurance premium in full for the year as opposed to monthly installments.

Other Ways to Lower Your Motorcycle Insurance

Gain Experience as a Driver

Insurance companies will charge you more if you’re new to riding. As you gain experience on the road—and keep a safe driving record—your good reputation will help lower your insurance premiums.

Compare Prices

This should be a given, but it’s crazy how many people don’t shop around for better rates on their vehicle insurance. Motorcycles are no exception. Compare prices and policies, and don’t buy more coverage than you need. And if you find a better deal, you can always switch your insurance.

Store Your Bike Safely

Bikes that are stored on the street or in driveways are likely to send your rates up, especially if you live in a high-crime or highly populated area.

Store your bike in your garage or another enclosed space to keep your rates low. If that’s not possible, keep it covered to avoid rust or damage to parts.

Choose the Right Agent

This is one of our most important tips for getting a great deal on motorcycle insurance, so listen up: You can only get so many deals on your own. But if you work with an agent who knows the industry really well, you’re way more likely to get the coverage you need at a great rate.

We recommend using an insurance agent who is part of our network called Endorsed Local Providers (ELPs). Since they don’t work for any single insurance company, they can focus on helping you find coverage for your bike from the best provider for you. They’re also RamseyTrusted.

Find a top motorcycle insurance broker near you today!

Ramsey Solutions

About the author

Ramsey Solutions

Ramsey Solutions has been committed to helping people regain control of their money, build wealth, grow their leadership skills, and enhance their lives through personal development since 1992. Millions of people have used our financial advice through 22 books (including 12 national bestsellers) published by Ramsey Press, as well as two syndicated radio shows and 10 podcasts, which have over 17 million weekly listeners. Learn More.

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