Type of Bike – bigger engines and high-performance bikes typically cost more to insure Riding Experience – if you are just starting out owning a motorcycle and are an inexperienced rider then expect to pay higher insurance premiums even compared to a much younger rider with more experience However, any younger than 25 or older than 70 and typically the rates are higher due to inexperience or slower reflexes. However, the following are the primary factors:Īge – The sweet spot for the lowest motorcycle insurance rate is between the ages of 40 and 60. Motorcycle Riders Association – if you are a member of a motorcycle riders association like the Harley Davidson HOG association (Harley Owners Group), some companies give you an additional discount for that.Įach insurance company has their own unique algorithm to determine what your insurance premium will be. Safety Courses – some of our motorcycle insurance companies offer discounts for taking motorcycle safety courses. Higher Deductible – by increasing your deductibles on Comprehensive and Collision you can save money
Pay In Full – some carriers will reduce your premiums by as much as 10% when you pay in full for the entire 12 months Multi-Policy Discount – you can save as much as 40% on your insurance policies by having your Home Insurance, Car Insurance, RV Insurance, Motorcycle Insurance and Life Insurance all with the same insurance company. Paperless Discount – you can save $5 to $10 per month, depending on the carrier, by receiving all of your statements via email.ĮFT or Automatic Payments – some carriers offer as much as a $10 per month savings for having your premiums automatically drafted from a checking or savings account each month.
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