What Factors Affect the Cost of Motorcycle Insurance

How much you pay for motorcycle insurance directly correlated to the type of coverage you would like to buy. However, other factors also contribute to your premium. Your insurance provider will look into these factors to calculate your premium according to the risk you pose. The riskier you are, the more you will pay for coverage.

When it comes to the factors affecting the cost of motorcycle insurance, San Diego insurance providers share 5 main of them.

San Diego, California

You may ride to different locations, but where you live can greatly impact the rate of your insurance. Riders in warmer states have more opportunities to ride and thus have more likelihood for accidents and insurance claims, which means high rates. Conversely, you are likely to pay less for motorcycle insurance in colder states as you have shortened riding seasons and will, therefore, have lower chances of accidents and claims.

Age and Riding Experience

Your insurance rate will generally decrease as you get older, until 70. Teen riders pose the highest level of risk for insurers and will eventually have to pay higher rates. But age is not the only factor to define the cost of your coverage. An inexperienced rider will pay a higher rate than a younger rider with more experience. For instance, a 32-year-old who just started riding a motorcycle may pay more than a 24-year-old with six years of riding experience.

Vehicle Usage

Why you ride your bike will affect the cost of your coverage. Riding your motorcycle only to and from work will cost you more than a casual weekend rider. Using your motorcycle for business purposes may not make you eligible for a personal motorcycle policy as you will then need a business policy.

At many insurance agencies, annual mileage is also considered for calculating your coverage rate. The more you ride, the higher you’ll have to pay. In many states, insurers won't even ask about your mileage. So it depends on where you live as well.

Speeding and Traffic Tickets

A speeding ticket on your vehicle will definitely increase the price of your motorcycle insurance, whether to the ticket was on your car or bike. In most states, these violations will eventually fall off your driving record after three years and you won't be charged for it if you remain clear in this term.

Accident and Claim History

Any motorcycle and auto accident or claims history on your motor vehicle will likely get you high motorcycle insurance rate. In fact, at-fault accidents will typically cost you more than not-at-fault accidents. Moreover, most claims will have a negative impact on your insurance price. Make sure to do a little research on the internet and have a detailed conversation with your insurance provider to get a proper idea of your premiums.