How Much Is Motorcycle Insurance on Average? (2024) (2024)

FAQs

How Much Is Motorcycle Insurance on Average? (2024)? ›

Below we've broken down the average costs for each motorcycle type: Standard bike: $1,376 per year or $115 a month. Sports bike: $1,600 per year or $133 a month. Touring bike: $900 per year or $75 a month.

Motorcycles are much cheaper to insure than cars. The average cost of full coverage motorcycle insurance is just $33 per month. Full coverage car insurance costs $164 per month, on average.

As mentioned above, age, experience, your state's laws and the type of bike you own help insurers calculate your motorcycle insurance premium. Additionally, factors like driving history, your location, insurance history and the type of motorcycle you're insuring play an important part as well, according to the III.

In some cases, vintage motorcycle insurance can be more affordable than standard auto insurance, especially if the bike is primarily used for recreational purposes and has limited mileage.

Type of motorcycle: Sports bikes typically cost the most to insure and touring bikes cost the least. Expect dirt bikes and trikes to have different rates, as they're separate models.

Several factors determine how long a motorcycle engine lasts, including the quality of the components, riding conditions, a motorcycle's make and model, and frequency of maintenance. Usually, a motorcycle engine is estimated to last between 50,000-250,000 miles or 12-15 years.

Who Is The Best Motorcycle Insurance Company? We found that Geico is the best motorcycle insurance company currently due to their policies having a great balance of low costs and great coverage. We also found that Progressive, State Farm, Dairyland, and Erie Insurance offer great motorcycle insurance offerings as well.

On average, motorcycles cost just under $600 a year to insure. However, that cost can range from $28 a month to $151. It's important to note that riders must show proof of insurance or financial responsibility if they are ever in an accident while riding their bikes.

A motorcycle is considered totaled when it needs repairs that exceed its actual cash value.

The average cost of motorcycle insurance in Texas is $46 per month, or $556 per year.

How much is motorcycle insurance per month in California? ›

Motorcycle Insurance Cost California

The cost of motorcycle insurance in California tends to be higher than the national average. On average minimum liability motorcycle insurance was around $22 per month which is 69% higher than the national average of $13.

Yes, the average age of a Harley owner is now older than 50. Although its sales are down, Harley has more than 55% share of the 35 and older male rider demographic. The American Motorcyclist Association's latest data show the average age of its members is 48.

In Terms of Age…

In general, a bike that was manufactured more than 20 years ago is considered old. Of course, for some models, being at least 20 years old makes them vintage. By definition, those that are 35 years old or older are considered antiques. Somewhere in the midst of these two, you have classics.

While life insurance is assessed on the level of risk you pose to insurers, it's unlikely you'll be declined due to motorcycling alone. Other aspects of your life will also be taken into consideration at the point of application.

Generally, owning a motorcycle is relatively cheaper than having a car. It has a lower initial cost, it is fuel efficient, and the insurance cost is also lower.

Year-Round Riding Season

Unlike other states with harsh winters and limited riding opportunities, California's mild climate allows motorcyclists to hit the road all year long. This increased time on the road leads to a higher likelihood of accidents, which in turn drives up insurance rates.

It's cheaper overall to own a motorcycle than a car. Motorcycles cost less to buy and to insure, but there are extra costs to consider for things like safety gear, and the risk of an injury is generally higher. Mark is a freelance journalist and analyst with over 15 years of experience covering the insurance industry.