On average, motorcycle insurance may be more expensive than car insurance. This depends on a variety of factors, however, and has to do greatly with the risk that motorcycles present to drivers. 

Why is Motorcycle Insurance Expensive? 

Motorcycle insurance can be expensive because bikes have a reputation for being risky to insure. Your risk level is how insurance agencies calculate how likely you are to file a claim on your insurance policy. Motorcycles generally have higher speed limits, as well as fatalities in accidents due to the lack of protection on a motorcycle. 

There are other factors that affect the cost of your motorcycle insurance, as well. 

Age 

Younger drivers generally pay more for motorcycle insurance. This is because young drivers are statistically the most likely to be involved in a wreck and participate in risky driving behaviors. Your rates may lower significantly once you reach 25 years of age. 

Driving Record 

Even if you are looking to insure your first motorcycle, your driving record will still affect your rates. While you may have a different policy for your motorcycle and car, your driving record is the same. If you have a poor driving record, you could pay more for motorcycle insurance. If you get into a car accident, this will affect your motorcycle insurance, but keep in mind that different violations affect your driving record differently. While a single ticket may only last on your record for 3 years and cause your rates to go up around 30%, violations like DUIs can last on your record for as long as 10 years and cause your rates to jump by 80% or more. Keep an eye on your driving record. When an accident or traffic violation drops off, you may see a drop in your insurance premiums. 

Credit Score 

A poor credit score can also raise your rates. Credit is used as an example of how reliable you may be in paying your premiums in full and on time. Building your credit can help you save money on motorcycle insurance. 

Value of the Motorcycle 

The higher value your motorcycle, the more you may pay for motorcycle insurance. This is where your car insurance may be higher than your motorcycle insurance premiums depending on the value of the two vehicles. While many cars cost more than motorcycles, some motorcycles are extremely valuable—especially newer models or classic motorcycles. It is recommended that you cover your motorcycle with enough comprehensive and collision coverage to completely cover its value in case the vehicle is totaled in an accident.

There are several factors that can lead to motorcycle insurance being more expensive than car insurance. It is important to find an insurance agency that will work with you to find the best deal. If you are looking for information on how to select the right insurance agency, click here.