Tips to Save Money On Motorcycle Insurance
The average cost of motorcycle insurance ranges from $200 to $500. Some of the variance is based on where you live. Accident-prone states like Louisiana, Delaware, and Michigan have higher rates than California, while states like Iowa, New Hampshire, and North Dakota have some of the lowest rates. Depending on a number of other variables, the amount you pay could be 200% higher. Full coverage on some models of motorcycles could push the cost of insurance as high as $800 annually. The good news is there are plenty of ways to save money for the seasoned shopper.
Commit to safety.
Motorcyclists are 35 times more likely to be in a fatal accident than passenger vehicles, so you can never be too safe on the road. Besides, completing a safe rider training course every three to five years can earn you a discount of 5-10%, depending on your insurance provider. Instructors earn up to 20% off. Most motorcycle safety courses offer additional discounts at motorcycle dealerships and retail shops. Check out your local DMV or the Motorcycle Safety Foundation websites for information on finding an approved course. Just always remember that an accident could happen at any time. If it does, be prepared to contact a professional personal injury attorney at the Ellis Law Firm.
Prove Yourself.
If you have a clean driving record, you may be eligible to be named a “Preferred Operator.” These drivers are typically 25 years of age or older, with at least one year of motorcycle riding experience, and two or fewer minor violations, no major violations, and no major at-fault accidents over the last three years. Some insurers also offer a 10% “mature rider” discount for those over 50 years of age.
Join the Club.
Score a discount of 10% or more if you’re a member of the American Motorcycle Association, Honda Riders Club of America, Motorcycle Safety Foundation, Harley Owners Group, Gold Wing Riders Association, Motorcycle Touring Association, or the BMW Motorcycle Owners of America.
Adjust your Deductible.
If you agree to assume a larger portion of the risk in the event of an accident, the insurance company will generally cut you a lower premium rate. It might mean you’re paying $1,000 rather than $500 or $750 if you crash, but it could save you 20% over the course of the year. Setting aside a little bit of money each month into an “emergency fund” would be a wise maneuver.
Mention Your Habits.
You could save money on your insurance if:
- You only drive on the weekends, rather than using your motorcycle to commute to work.
- You store your motorcycle in a private garage, rather than parking it on the street.
- You are a seasonal motorcycle driver who stores the bike for the winter or rainy season.
- Your annual mileage is considerably low.
- You drive a type of motorcycle known for cheaper repairs.
- You are interested in insuring another motorcycle, a car, or a home with the same insurer.
Get the Money You Deserve.
Following an accident, you may need assistance dealing with insurance companies. Contact an experienced Los Angeles motorcycle accident attorney at Ellis Injury Law to find out what compensation you may be entitled to. Call today at 888-828-5603 and speak with a veteran personal injury lawyer about your case.
Additional resources:
- The Balance – What is the Average Cost of Motorcycle Insurance, https://www.thebalance.com/what-is-the-average-cost-of-motorcycle-insurance-527362
- CCS Insurance – 5 Ways To Save on Motorcycle Insurance https://www.ccsinsurance.com/motorcycle-insurance-quote/5-ways-to-save-motorcycle-insurance.html
- DMV – 9 Tips To Save Money on Motorcycle Insurance, https://www.dmv.org/insurance/9-tips-to-save-money-on-motorcycle-insurance.php
- Ride MSS – Course Benefits, https://www.ridemss.com/registration/112268266/files/MSF%20Safety%20Course%20Benefits%202017.pdf
- Freeway Insurance Services – 3 Reasons You Need to Take a Motorcycle Safety Course This Summer, https://www.freewayinsurance.com/knowledge-center/motorcycle-insurance/motorcycle-safety/3-reasons-need-take-motorcycle-safety-course-summer/