Driving motorcycles on the roads is just like driving cars. Drivers are risk of getting an accident, but for simple reason, driving motorcycle is a lot riskier than car. This is one of the simple reasons of why is motorcycle insurance expensive.
However, when talking about insurance especially motorcycle, there are some other factors that affect the insurance cost. This article will tell you more about the reasons of motorcycle insurance for becoming more expensive than car insurance.
The Top Reasons Why is Motorcycle Insurance Expensive
What Affects Motorcycle Insurance Cost ?
As previously mentioned, motorcycle insurance can be expensive than auto insurance. For an 40-year-old motorcycle driver may have pay their annual premiums between $250 and $700. The high and low premium is affected by several factors. However, if you are young, let’s say, 18 up to 21 years old and unmarried, it stands to reason that you will have to pay more than $700 per year.
This is the basic reason for why is motorcycle insurance expensive. Your age will be primarily considered by insurance company. Seemingly, older driver is perceived to be safer than young and unmarried drivers. They have higher risk of getting an accident so the company requires them to pay higher.
More reasons should be understood those asking motorcycle insurance becomes more expensive. Another affecting factor is the driving record. If you are young and careless, you will have involved in accident. That makes the driving record bad. Again, insurance company has another reason to consider you as high risk driver that requires you to have higher insurance premiums.
The next causes of high insurance slightly affect. It is the location where you are living. Well, some cities in the US have high rate of accidents. Living in these kinds of cities will allow the insurance companies to get you higher rates.
Another reason of why is motorcycle insurance is expensive is the
fact that you have type of motorcycles that have higher risk to have accident due to the hard control.
Considering those facts, you may have to consider replacing your current motorcycle to avoid the high insurance cost.
How to Reduce Motorcycle Insurance Costs?
Young drivers are possible charged high insurance cost. That is the fact. However, there are some ways that can be applied to reduce the motorcycle insurance cost to avoid the reason why is motorcycle insurance expensive.
The key of lower rate lies on your age, your experience of driving your motorcycle, driving record and the motorcycle speed. Now, you can begin to consider taking a safety course. Insurance companies will offer them incentives after completing this safety course. Drivers that can mostly take advantage of this course is under-25-year-old drivers.
Then, your drivers should understand that insurance company does have reason to consider you as high risk drivers. Thus, it is important to obey the traffic regulations and avoid any infractions as far as possible that may affect the driving record.
If you can perform this for a certain period of time, insurance company shall give you 5% off discounts. In the end, you can forget why motorcycle insurance is expensive.
The way of storing the motorcycle also matters to get lower rate. Instead of storing outside the house, we need adequate storage space. Prepare garage that is locked at night to make sure that the motorcycle is secured at night.
Lower rate frequently means cheap insurance, but it does not mean the cheap one is the best choice. We need to be sure that we have sufficient liability coverage since when accident happens; the medical costs can be higher. That’s why it is a good idea to have sufficient comprehensive coverage.
Now, it is clear why is motorcycle insurance expensive. However, there are ways to get lower rate with sufficient coverage.