Is Motorcycle Insurance Expensive?

Undoubtedly, motorbike insurance is something you can’t ignore. Now the question arises, is motorcycle insurance expensive? 

Motorcycle insurance isn’t expensive if you insure your motorbike from the right place or at the right rate. However, it may be more expensive if you’re a young rider or if you live in an area with a high number of motorbike theft cases. That’s why it’s always best to compare motorbike insurance prices.

Let’s look at what it means and what you can do about it. 

While writing this post, I leave no stone unturned so you can buy the best motorbike insurance for your motorbike. 

Is Motorcycle Insurance Expensive? 

Insurance is the far most crucial thing which we all mainly consider. Now the question arises, is motorcycle insurance expensive? 

The insurance can be costly for some riders, while for some, the insurance can be cheap. 

Why am I saying this? 

No, it’s not about how much you earn annually, it’s all about your age, your riding experience, the area you live in, and the type of motorbike you’re riding, for instance, if you’re younger, the insurance would be expensive.

Factors Affecting Motorcycle Insurance Cost? 

So far, you understand that motorbike insurance isn’t that expensive. But have you wondered what factors the cost of motorcycle insurance depends on? 

Some experts claim that motorbike insurance cost is highly influenced by your age, your living area, and your track record. Insurance companies sometimes consider criminal records, especially motorbike theft cases, when deciding on motorbike insurance costs. 

Let’s understand them one by one in detail. 

Factors affecting motorbike insurance cost	Details
Your age.	Insurance companies consider younger riders as newbies who are more prone to accidents and damages and thus charge more.
The area you’re living in.	If you’re living in an area where many motorbike theft cases are reported, be prepared to pay more money in insurance.
Motorbike you’re riding	The costlier the motorbike you purchase, the more you’ve to pay for your motorbike insurance.

Your Age: 

You may not know, but your age is probably the most crucial factor insurance companies consider. 

Insurance companies consider younger riders as newbies who are more prone to accidents and damages. And that’s why insurance is more expensive for younger riders than experienced ones. 

Here’s the approximate price you’ve to pay according to your age. 

Age	Kawasaki Ninja 400	BMW R 1250 RT	Yamaha V Star 250
16	$4000	$5000	$2719
18	$2,774	$4800	$2500
21	$2,500	$4500	$2000
35	$2000	$2719	$1,400
50	$2000	$3394	$1,389

Source: Valuepenguin.com

From the above data, it’s clear that you need to pay more if you’re a younger rider. Also, motorbikes such as BMW require even more money for insurance if you’re in your 50s.

Your Area: 

The second most crucial factor insurance companies consider is the area you live in. 

You find this surprising, but if you’re living in an area where many motorbike theft cases are reported, be prepared to pay more money in insurance. 

It’s because insurance companies don’t want to take any risk, especially if you’re living in a motorbike-theft-prone area. 

Your Motorbike: 

The costlier the motorbike you purchase, the more you’ve to pay for your motorbike insurance. 

For example, you’re likely to pay more for insurance coverage if you have a sports motorcycle because of costlier parts and replacements. 

You won’t have to pay more for cost-saving or low-power cruise motorbikes. 

How Does Your Two Wheeler Affect Your Motorcycle Insurance Cost? 

So far, you understand some factors on which motorcycle insurance depends. Now the question arises, how does your two-wheeler affect your motorcycle insurance cost? 

According to some experts, your motorbike model, its value, bike safety features, crash, and theft rate hugely impact the insurance cost. Motorbike with high value comes with a high insurance cost, while a low theft and crash rate motorcycle shows less insurance cost. 

Let’s understand one by one in detail. 

How does your motorbike affect your motorbike insurance cost?	Details
Your motorbike model	If your motorbike is expensive, the cost of repairing and replacing damaged parts will likely be expensive. And thus, your motorbike model influences insurance costs highly.
Your motorbike features	Nowadays, some motorbikes come with existing features that help to drastically settle the insurance cost.  For instance, if your motorbike comes with an anti-theft feature, you’ll likely pay less while purchasing your motorbike insurance.
Motorbike crash rate	Suppose your motorbike model has been involved in accidents recently. In that case, motorbike insurance companies will assume that you’re more likely to file a claim in future
Motorbike theft rate	Suppose your motorbike model recently includes theft cases at a higher rate in that case, insurance companies will assume that you’re more likely to file a claim.

Your Motorbike Model: 

Your motorbike model is probably the first thing that insurance companies consider while setting the cost for insurance. 

For instance, if your motorbike is expensive, the cost of repairing and replacing damaged parts will likely be expensive. And thus, your motorbike model influences insurance costs highly. 

Your Motorbike Features: 

Nowadays, some motorbikes come with existing features that help to settle down the insurance cost drastically. 

For instance, if your motorbike comes with an anti-theft feature, you’ll likely pay less while purchasing your motorbike insurance. 

Even some motorbikes are coming with anti-lock brakes, which reduces the accident rate drastically; thus, riders with these motorbikes will have to pay less than regular motorbikes riders. 

Your Motorbike Crash Rate: 

This factor may sound impressive, but your insurance cost is also highly influenced by your motorbike model crash rate. 

Suppose your motorbike model has been involved in accidents recently. In that case, motorbike insurance companies will assume that you’re more likely to file a claim. 

Your Motorbike Theft Rate: 

The last factor which insurance companies consider is your motorbike theft rate. 

Suppose your motorbike model recently includes theft cases at a higher rate. In that case, insurance companies will assume that you’re more likely to file a claim. 

And that’s why expensive and flashy motorbikes, which are included in theft cases, come with costly motorbike insurance. 

Also. read my previous post where I’ve discussed how motorbike gears can save lives and help you to get a better settlement. Click here to read.

Frequently Asked Questions:

Final Verdict: 

Is motorcycle insurance expensive? Experts claim your motorbike insurance costs depend on your age, the area where you’re living, and the type of motorbike you’re riding. 

Motorbike insurance will likely be expensive for you if you’re a young rider. 

Also, suppose you’re living in an area where there are a lot of motorbike theft cases. In that case, insurance will likely be too expensive for you. 

I’ve mentioned some factors which influence your motorbike insurance cost. It would be best if you consider all the above factors in your mind before buying motorcycle insurance.