What Is the Average Cost for Motorcycle Insurance for a 55 Year Old?
The average cost of motorcycle insurance varies significantly from state to state. Other factors that determine the cost of motorcycle insurance include the rider's age, the size of the motorcycle, the make and model, and the types of coverage that you select. The average cost of motorcycle insurance for a 55-year-old could range from as little as $20 per year to more than $300 per year.
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Make, Model and Size of the Motorcycle
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The make, model and size of the motorcycle play an important role in the average cost of insuring it. Cheap, inexpensive motorcycles cost less to insure than expensive, top-of-the-line bikes. Additionally, sport bikes or motorcycles that are statistically more likely to be involved in an accident, or produce medical bills or property damage, may cost more to insure. Larger engines with higher CCs typically cost more to insure, as they are capable of causing more damage and may cost more to replace.
Types of Coverage
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The type of insurance coverage you select for your motorcycle is an important factor in how much it costs. If you carry only the state minimum with a high deductible, you might get away with as little as $20 to $50 per year. However, if you carry better coverage, including collision and comprehensive, accessories coverage, trip interruption, roadside assistance, a higher liability limit and a higher medical limit, you'll pay more for your motorcycle insurance.
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You
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Age is a factor; a 55-year-old man pays a lot less for motorcycle insurance than a 20-year-old because he has been driving longer and has more experience. Where you live plays an important role; motorcycle insurance costs significantly more in some states than others and may even vary based on city. Finally, your driving history influences the cost; if you've got a bad driving history, you'll pay more for your motorcycle insurance.
Ask for Discounts
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When you're getting quotes for motorcycle insurance, ask about discounts. You may be eligible for a discount if you have completed a Motorcycle Safety Foundation class recently. You may also get a discount for paying for the entire policy up-front, storing the bike in your garage or having multiple insurance policies with your insurer. Check with your insurer to determine what discounts you're eligible for and consider taking regular classes to prove you're motorcycle-savvy and lower your premium.
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References
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