It’s a pretty simple one; your bike has the potential to be involved in a fire at your home or also from a mechanical fault on the bike.
The more expensive the bike, the more expensive the pay out for a claim can be.
This is another reason why your bike’s value can affect your insurance premium.
Is insurance for a motorcycle cheaper than for a car?
Under most circumstances, motorcycle insurance is not only cheaper than car insurance, but it’s a lot cheaper. The average bike repair following an accident is much less than a car repair after a crash, and that’s another reason motorcycle insurance rates are low.6 Sep 2017
How can I get cheaper motorcycle insurance?
Here are our tips for saving money on your bike insurance:
- Choose a smaller, older or less expensive bike.
- Avoid modified and unusual motorbikes.
- Limit your mileage.
- Pay annually.
- Improve your motorbike’s security.
- Park your motorbike in a secure area.
- Consider who rides your bike.
- Take a motorbike training course.
What is the average cost of motorcycle insurance?
The average cost of motorcycle insurance is $519 per year in the U.S., which is well below the average cost of auto insurance.
How much is motorcycle insurance for a 21 year old?
Find the Cheapest Motorcycle Insurance Quotes in Your Area
We analyzed quotes from top insurers across the U.S. and found that the average cost of motorcycle insurance for a 21-year-old is $450 per year or about $38 per month.