Motorcycle Insurance is insurance you purchase to provide coverage to your motorcycle in the event of a loss, loss that could be from theft of the motorcycle, or accidental damage.
A person might be lucky to come across a motorcycle that is so cheap that they might consider riding the motorcycle without insurance, since they would not really feel the financial impact of its loss. However, motorcycle owners are required by law to have liability coverage in order to operate a motorcycle on the road, so, regardless of the cost of a motorcycle, the most basic coverage is required and you do not want to be caught breaking the law.
As to whether or not motorcycle insurance is expensive depends on a number of factors insurance companies use to determine motorcycle rates, example of those factors are:
- Type of motorcycle
- Riding history.
- Coverages you choose.
- The company you are insuring with.
- Your age.
- The area you live in.
- Motorcycle license.
For example, someone with a good riding history and who has motorcycle license with an older motorcycle and decides to go with liability coverage only, might pay a significantly lower premium compared to someone without a motorcycle license, no riding history, a newer motorcycle and wanting full coverage.
The best ways to lower the cost of your motorcycle insurance is to:
- Get a motorcycle license.
- Consider a used or an older motorcycle.
- Consider lower coverages.
- Compare quotes from different companies.
Generally, motorcycle insurance is affordable.
Just like motorcycle insurance, automobile insurance provides coverage to an automobile in the event of a loss. Motorcycle insurance and automobile insurance have similar coverages, insurance companies also use similar factors to determine how much a person would pay for motorcycle insurance and automobile insurance.
The simple answer to this questions is, yes, on average, motorcycle insurance is less expensive than automobile insurance.