Average Cost Of Motorcycle Insurance In Michigan

By | September 10, 2022


Average Cost of Motorcycle Insurance (2022)

Boilerplate Cost of Motorcycle Insurance (2022)

The average cost of motorbike insurance is
$721 per year
in the U.South., but rates may vary by more 150% depending on your location.

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Motorcycle insurance is required in most U.S. states, only every rider benefits from active coverage, regardless of local requirements. We collected thousands of quotes from beyond the state to find out how much it costs to protect your bike, your health and your fiscal well-being.

  • Average cost of motorcycle insurance by state
  • How do motorcycle insurance rates change with historic period?
  • Sport vs. touring vs. cruiser: how your motorcycle affects insurance rates
  • The almost frequent motorcycle insurance claims
  • Methodology

Boilerplate cost of motorcycle insurance by land

We conducted a review of motorbike insurance quotes across all 50 states and establish that the average cost of motorcycle insurance quotes in the U.S. is
$721
for a full yr of coverage. Because the cost of coverage varies based on your location, it’s useful to go more than one quote to detect the all-time price.

You can see how much motorcycle insurance costs on average per month in your land in the table below.

Nosotros nerveless rates from up to half-dozen major motorcycle insurance carriers in each state, based on a sample 45-year-old male passenger. The coverage limits we requested in our quotes included:

  • Bodily injury liability coverage: $100,000 per person/$300,000 per blow
  • Belongings damage liability coverage:
    $50,000
  • Comprehensive and collision deductible:
    $500

States with the most affordable motorcycle insurance

The five states with the most affordable motorbike insurance quotes all had rates that were at least
36%
lower than the average in the U.S. All of us with the
cheapest rates
were located in the Midwest and Great Plains regions.


States with the most expensive motorcycle insurance

Different the about affordable states, the costliest states for motorbike insurance showed no clear geographical correlation. However, they did tend to have large populations and warmer, longer riding seasons.

Paying for your motorcycle insurance in 12 monthly installments is usually more expensive than if yous pay for a yearlong policy up front end. The pay-in-full discount is mutual at peak insurers such every bit
Progressive,
Allstate
and
Nationwide. If yous alive in a state where coverage is expensive, or y’all want a lower overall rate, consider paying for half dozen to 12 months of motorbike insurance coverage at ane fourth dimension instead of paying monthly.

How exercise motorcycle insurance rates change with age?

Motorcycle insurance providers unremarkably charge higher premiums to
younger drivers, who are viewed equally more likely to be involved in an accident.

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In addition to the urban center you lot alive in, the amount of coverage you buy and your driving history, motorbike insurance companies likewise calculate your toll of coverage based on your age and years of riding feel.

Cost of motorcycle insurance by rider historic period

Age

Yamaha Five Star 250

Kawasaki Ninja 400

BMW R 1250 RT

Cruiser Sport Touring
16 $2,576 $4,002 $5655
18 $2,044 $2,774 $3,952
21 $one,911 $2,102 $two,979
35 $1,389 $2,110 $2,719
50 $1,389 $2,110 $3,394

All annual quotes were gathered from Progressive for a male rider living in Los Angeles with a clean driving record who has had his driver’s license since he was 16 years old, and has been riding a motorcycle for 10 years or since his 16th altogether, whichever is shorter for 2022 motorcycle models.

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Notwithstanding, every bit long equally you’re non involved in any accidents, your premium should decrease as y’all gain feel. For example, eighteen-year-sometime riders are often
charged more than for insurance
than 21-twelvemonth-olds, while 21-year-olds often have slightly more expensive rates than middle-aged riders.

Sport vs. touring vs. cruiser vs. scooter: How your motorcycle affects insurance rates

Insurance companies use all safe and hazard information available to them when setting your rates, so the type of motorcycle you ride has a large bear on on your premium. Specifically, insurers consider:

  • Motorcycle value:
    More than expensive motorbikes toll more to repair and replace, so insurance companies charge you more to insure them if you purchase comprehensive and collision insurance.
  • Bike prophylactic:
    Bikes with more than safety features — such every bit anti-lock brakes — are less likely to be involved in an blow and are generally cheaper to insure than bikes lacking those features.
  • Crash rate:
    Certain motorbike models and styles are involved in more accidents than others. If your model of wheel is involved in crashes at a higher rate, motorcycle insurance companies presume yous are more likely to file a claim.
  • Theft charge per unit:
    Insurance companies often accuse more to embrace a type of
    wheel that is often stolen. That’s because there’s a higher chance the insurer will have to pay out for a comprehensive claim. For this reason, flashy and expensive bikes that are high theft targets are more expensive to insure.

Sport and supersport bikes (besides referred to equally street bikes) are more often than not
much more costly to insure
than other bikes considering they tick a lot of these boxes. They are relatively expensive, often wrecked and are high theft targets.

We nerveless typical motorbike insurance rates and found that compared to cruiser-manner bikes, sport bikes are
257%
more expensive to insure, despite having an
boilerplate Kelley Bluish Book value
of just 169% more. Similarly, touring bikes are 33% cheaper to insure than sport bikes, while having a much higher average cost.

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Below, we’ve included the boilerplate cost to insure diverse cruisers, touring motorcycles, street bikes and scooters that shows the increase in average motorbike insurance costs.

Model

Engine size

Blue Book value

Cost per year

2022 Yamaha Five Star 250 250cc $iii,620 $i,389
2022 Honda Rebel 500 500cc $5,645 $ane,894
2022 Harley-Davidson Street 750 750cc $6,230 $one,853
Cruiser average: $5,165 $1,712
2022 BMW R 1250 RT 1250cc $18,920 $3,394
2022 Harley-Davidson Road King 1746cc $17,900 $two,675
2022 Honda Golden Wing 1833cc $21,680 $3,943
Touring boilerplate: $19,500 $3,337
2022 Kawasaki Ninja 400 300cc $4,555 $two,110
2022 Suzuki GSX-R600 600cc $9,9000 $7,097
2022 Ducati SuperSport 937cc $11,755 $4008
Sport average: $eight,737 $4,405

Average annual motorcycle insurance quotes were gathered from Progressive for a 50-twelvemonth-onetime single male rider with no accidents or traffic violations, living in Los Angeles. He has had a driver’south license since he was 16 years old, and has been riding a motorcycle for 10 years.

The most frequent motorcycle insurance claims

In 2010, the
Authorities Accountability Function (GAO)
estimated that direct losses due to motorcycle crashes in the U.S. amounted to $16 billion. That estimate included direct costs like emergency services, property damage and medical costs including rehabilitation. Information technology also accounted for things such every bit lost wages, household productivity and legal defense costs in liability claims.

According to the most contempo data available, the number of motorbike injuries per yr has decreased from
104,000
in 2016 to
84,000
in 2022. Even so, the cost of medical care has increased. Taking those factors into consideration, it’southward likely that a more current study would result in an even higher directly loss cost.

Given their smaller size and weight, motorcycles are more likely to be stolen than cars and trucks. Thieves commonly hoist the bike into a van, which minimizes both the harm to the motorcycle and the likelihood of getting caught in the human activity.

Reported incidents of motorcycle theft in the U.S. decreased ii% between 2022 and 2022, to 40,830, according to calculations from the National Insurance Crime Bureau. Since 2006, motorcycle thefts are estimated to exist downwards 39%, from 66,774.

States with the highest number of motorcycle thefts

The five states with the highest number of stolen motorcycles in 2022 correspond over
42%
of the full number of stolen bikes in the U.Due south.

Frequently Asked Questions

What does motorbike insurance encompass?

Like car insurance, motorcycle insurance covers your financial liability if you are responsible for an accident.
Full-coverage motorcycle insurance
can also include comprehensive and collision coverage, which pays for impairment to your bike in a crash or due to other causes, similar theft. Some motorcycle insurers also offer extras like roadside assistance and trip cancellation coverage.

Why is my motorcycle insurance so expensive?

The three principal factors that influence how much motorcycle insurance costs are who yous are, where you lot alive and what type of motorcycle y’all have. Younger, less experienced riders or those who accept recently gotten into a crash pay more than than riders with years of accident-gratuitous riding experience. If you lot live in an expanse with a lot of motorbike theft, you lot’ll likely pay more. And a powerful sport bike costs more to insure than a lower-power cruiser.

Do motorcycles need insurance?

In most states, the respond is yes. How much
coverage you lot are required to buy
changes past state, and some states require personal injury protection, while others exercise not. A few states allow residents to legally ride motorcycles without insurance or proof of financial responsibility. However, we still recommend protecting yourself with an insurance policy.

Which visitor has the all-time motorcycle insurance?

The
best motorcycle insurance policy
depends on your specific needs, like the type of motorcycle y’all have and your riding habits. Nationwide has the cheapest motorcycle insurance rates on average, while Markel is an ideal choice for collectors considering it covers more than types of motorcycles than many other insurers. Immature riders will detect Geico’south payment plans helpful, and veterans can take advantage of discounts and great customer service at USAA.

Can I packet my motorcycle and motorcar insurance?

Yes, you lot tin can
bundle
your motorcycle and car insurance. In fact, most insurers offer a multi-policy disbelieve of five% to 10% for bundling your automobile and motorcycle insurance.

Methodology

We analyzed thousands of quotes from 6 major insurers to decide the average price of motorcycle insurance past state.

To discover the effect of driver age on motorcycle insurance rates, nosotros compiled quotes from Progressive for a male rider living in Los Angeles with a clean driving record who has had his commuter’southward license since he was sixteen years old, and has been riding a motorcycle for 10 years or since his 16th birthday, whichever is shorter.

When comparing the premiums for different types of motorcycles, we gathered quotes from Progressive for a 50-year-erstwhile single male rider with no accidents or traffic violations, living in Los Angeles. He has had a driver’s license since he was xvi years old, and has been riding a motorcycle for 10 years.

Crash statistics were gathered from the
Government Accountability Office (GAO). Injury statistics were provided by the
National Highway Traffic Safety Assistants. Theft statistics were obtained through the
National Insurance Crime Bureau.

Source: https://www.valuepenguin.com/average-cost-of-motorcycle-insurance