All riders who own a motorcycle should take steps to protect themselves from harm. Along with wearing a helmet and other safety precautions, nearly everyone needs to carry motorcycle insurance. This coverage can protect both you and others in the event of an accident or other disasters.
Unfortunately, many people skimp on coverage because they assume that it is too expensive to have a comprehensive insurance policy. In fact, there are thousands of different factors that go into determining a person’s motorcycle insurance premium.
Avoid Accidents
Assuming that all other factors concerning the amount and type of coverage purchased are the same, there are still a number of things that can raise or lower a person's motorcycle insurance premiums. The largest factor that seems to determine motorcycle insurance rates is a person’s driving history. This includes any and all citations received while riding a motorcycle and driving a car.
Typically, someone who has never been found to be “at fault” will pay cheaper motorcycle insurance than someone who has been found “at fault” in an accident. People who have had an accident recorded on their record within the past three years will pay more than those who have fewer recent violations. Severe violations, such as a DUI or accident involving severe injuries or fatalities can lead to the highest premiums. Violations older than seven years have little to no impact on premiums. That means that the best thing a person can do achieve cheap motorcycle insurance premiums is to be a safe driver.
It's All in the Details
After a person’s individual driving history has been factored in, the next things that are considered are the rider's age and gender. Men tend to cause more expensive accidents, and younger drivers tend to have more accidents than older drivers. That means that men and young riders pay more for their coverage. While there isn't much that can be done about this, it is helpful for younger drivers to know that they will not be forced to pay high premiums forever. Older riders pay cheaper insurance premiums.
If you choose to take out full coverage (also known as comprehensive insurance) on your bike, the insurance company will look at several other factors in order to determine your premium. The most common one is the area where the bike is parked at night. People who live in areas with high crime rates and those who park their motorcycle outside at night will usually pay more for insurance than those who live in safer areas or store their bikes in a garage. For this reason, many people who live in apartments rent a small garage or storage shed for their motorcycle. Security systems can also bring down the cost of comprehensive coverage premiums. People with more expensive bikes should also expect to pay more for comprehensive coverage. Older or less expensive motorcycle models typically also have cheap insurance rates.
