Average motorcycle insurance cost – New motorcycle drivers or a driver who want to renew their insurance policies is reasonable to wonder whether they can get the best deal or not. With a lot of companies offer a variety of insurance policy, actually how much is average motorcycle insurance cost? All drivers need to know the best insurance cost and this is the answer.

What to Know about Average Motorcycle Insurance Cost
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The average insurance cost may be varied but let’s take $450 as the average amount per year. However, that amount will not be the same for all drivers.

Of course we understand this. What is more important now is to know what factors that affect the insurance cost so each driver can get the best premium either lower or higher.

How Insurance Cost is Affected ?

When talking about the factors, actually it is all about the potential risks of the drivers. To The insurance companies will try to dig up how much risk possibly a driver will have.

First, drivers will be asked the type of motorcycle they ride. Regarding with the potential risks, high-powered sport motorcycle will be a lot more expensive or higher insurance cost. Then, the driving history is more important to the average motorcycle insurance cost.

If drivers have gotten several tickets or even been involved in a lot of accidents with their motorcycle, it will be no wonder they get higher insurance cost. If $450 is the average, they will get a lot higher than $450.

Age is the next. Young riders will be regarded as less experienced driver so their insurance cost will be more than $450 per year. Then, it does not seem sensible that area where drivers living also affects the cost.

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Well, the potential risks of getting accident or being stolen for urban area are regarded to be higher than drivers living in rural area. That’s why the average motorcycle insurance cost will be more than $450.

Drivers will have to decide what type of coverage they actually need. At least, they have to carry minimum liability coverage and it will only cost them around $100 up to $400 per year.

It means that, if drivers just want to have the cheapest cost, going for minimum liability would do. However, purchasing additional coverage like comprehensive and collision coverage, the premium will automatically increase.

How Take Advantage of Discounts

Discounts usually exist in most all companies. To get lower average motorcycle insurance cost, riders can take advantage of these discounts. Since each company offers different type of discounts, they have to ask first what available discounts are and ask whether they are qualified.

Discounts will be likely given for riders who have taken training course, insure more than motorcycles in one company, become a member of a group, have lower mileage and have installed safety features in their motorcycles.

Lower Premiums by Increasing Deductibles

In case the insurance cost is becoming higher, increasing the deductibles will substantially lower the insurance cost. What is deductible actually? It is the amount of money that drivers have to pay for a claim before their insurance company pays anything. That will affect the average motorcycle insurance cost in the end.

Let’s take a look at this example. Suppose that a driver has $300 deductible and he gets an accident with $1,700 for damage expense.

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That driver will have to pay $300 for the damage and the remaining ($1,200) will be paid by the company. However, if the deductible becomes $1,100 that is paid up-front, that driver can save up to 40% for the annual premium when he gets an accident.

Higher deductible will be considerably recommended for drivers with good driving history, long experience in riding motorcycles. Let’s see how that higher deductible will affect the average motorcycle insurance cost.