How Much Is Motorcycle Insurance for Young Riders?

higher motorcycle insurance rates for young motorcycle riders
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Young motorcycle riders tend to pay more for their insurance, at an average of almost $1,000 per year. This is because young riders present more risk to insurance providers. As you get older, your premiums should decrease if you don’t have accidents.

Malhotra & Assoc. Insurance has a team of motorcycle insurance experts who can answer all of your questions and find you the coverage you need. Contact us today. 

Average Motorcycle Insurance Costs for 18-Year-Olds

The average cost of motorcycle insurance for 18-year-olds is $998 per year or around $83 per month. These costs vary slightly between men and women, with some insurance providers charging women of the same age an average of $11 more per year. You may be able to find coverage as low as around $600 per year, at the cheapest. 

With the wide range in prices for young motorcycle riders between different insurance providers, it is important to get quotes from at least five insurance companies before you select one. Many of the top motorcycle insurance providers will allow you to request a quote online, making it easy to compare. When you get ready to request a quote, be prepared with your personal information and details about your motorcycle. Before you request a quote you should do your research to find out what minimum coverage amounts you need and what other forms of coverage you will want to protect your liability and your motorcycle.

It’s important to note that as you get older, your premiums will decrease, as long as you remain claim-free.

Why Motorcycle Insurance Costs Are High for Young Riders

Young motorcycle riders have the least experience driving on the road of all motorcyclists, simply because they have had less of an opportunity to ride due to their age. Young drivers are also statistically more likely to be involved in accidents, making young riders a higher risk category for insurance companies to cover.

The more risk you present to an insurance company, the higher your premiums are likely to be. The company needs to protect itself from the potential costs of paying for a claim, which is why they pass some of those costs on to you as higher premiums. 

Higher premiums are not only for young motorcycle riders. Young drivers have a difficult time finding affordable auto insurance as well, due to the same risks.

How to Save Money on Motorcycle Insurance

While you should anticipate higher premiums as a young rider, there are a few ways you may be able to save money on your motorcycle insurance. First, you can compare the rates of multiple insurance providers. This will help you see what providers are offering for the same amount of coverage in your area.

You should also check to see what discounts are available from each provider. You may be able to save by disclosing your involvement in school or community organizations. Most insurance companies will also offer discounts for bundling insurance policies. For that reason, you might want to consider requesting that your parents purchase motorcycle insurance for you from the same provider that covers their home or auto insurance.

What Coverage Does a Young Motorcycle Rider Need?

All motorcyclists will need to purchase the minimum required coverage in their state. Additionally, you should consider purchasing liability coverage, uninsured/underinsured motorist coverage, collision coverage, and medical payments coverage. Each of these will protect you, your motorcycle, and your wallet in the event of an accident.

Purchasing Motorcycle Insurance

With so many providers out there and all of the coverage options available, it can be intimidating to try to purchase coverage alone. Speak with an expert from Malhotra & Assoc. Insurance for added peace of mind that you are getting the best, most affordable coverage possible.

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