Just as with insuring any other vehicle, individuals under the age of 25 experience higher motorcycle insurance costs.
PHOTO Courtesy| Freepik
If you’re 18, anticipate substantially elevated insurance expenses compared to those for older adults.
The annual average motorcycle insurance premium for an 18-year-old stands at $998, but various factors such as your home state, driving history, and the motorcycle type can influence this amount by up to $700.
State-wise Breakdown of Motorcycle Insurance Expenses for 18-Year-Olds
| State | Full Coverage (40-Year-Old) | Full Coverage (18-Year-Old) | Increase vs. 40-Year-Old | % Increase vs. 40-Year-Old |
|---|---|---|---|---|
| Alabama | $273 | $573 | $300 | 110% |
| Alaska | $200 | $373 | $174 | 87% |
| Arizona | $380 | $862 | $482 | 127% |
| Arkansas | $411 | $740 | $329 | 80% |
| California | $380 | $901 | $521 | 137% |
| Colorado | $321 | $710 | $389 | 121% |
| Connecticut | $349 | $699 | $349 | 100% |
| Delaware | $466 | $1,096 | $630 | 135% |
| Florida | $297 | $573 | $276 | 93% |
| Georgia | $399 | $957 | $558 | 140% |
What Makes Motorcycle Insurance Costly for an 18-Year-Old
Younger riders statistically have a higher likelihood of being involved in accidents.
Insurers analyze this data, categorizing 18-year-olds as high-risk clients, leading to increased insurance costs. The elevated rates persist until these riders accumulate more driving experience.
This trend isn’t exclusive to motorcycle insurance; obtaining affordable auto insurance for young riders is also challenging.
As riders mature and maintain a clean driving record, they become eligible for lower rates.
While insuring a car is notably more expensive for an 18-year-old, with minimum coverage averaging over $2,000 annually, caution is advised against choosing a motorcycle solely for financial reasons.
This is due to the increased risk of injuries and higher medical costs associated with motorcycle accidents.
Ways to Cut Costs on Motorcycle Insurance as an 18 Year Old
Although motorcycle insurance tends to be costly for 18-year-olds, you can employ a few strategies to save money.
Comparing rates, leveraging discounts, and acquiring the policy through your parents are straightforward methods to lower your motorcycle insurance expenses.
Request discounts
Motorcycle insurance companies frequently extend discounts to experienced drivers or those renewing their coverage, which may be inaccessible to 18-year-olds.
Nevertheless, young riders have the potential to qualify for various discounts, such as:
– Requesting a quote a few days before the policy start date
– Enrolling in automatic payments
– Completing a driving safety course
– Obtaining a valid motorcycle endorsement on the license
– Owning a bike equipped with anti-lock brakes or an anti-theft device
– Being a member of certain school-affiliated honors organizations
Combine your coverage with your parents
It’s more cost-effective for 18-year-old riders to be included in a parent’s policy than to obtain their own, particularly if your parents are eligible for an insurance bundle discount.
Select the appropriate motorcycle
Opt for a motorcycle carefully, as insurance costs vary. Older or less powerful bikes typically have lower insurance costs, while sportbikes are more expensive to insure.
Cruisers and tourers fall in the middle range. Make a wise choice in selecting your bike.
Opt for a policy that covers only liability
Consider opting for a liability-only policy if you’ve fully paid off your motorcycle.
It’s essential to note that this type of insurance doesn’t cover the cost of repairing your bike in case you’re at fault in an accident.
However, if you’re a responsible rider and have the financial means to handle potential repairs, the lower premiums associated with this plan could be a worthwhile risk.
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