Survey Shows Which States Have the Lowest and Highest Motorcycle Insurance Rates

So, you decide to purchase a motorcycle, but soon find out that getting coverage isn’t as simple as adding a bike to your car insurance policy. A rider may satisfy your needs in some instances, but those planning to use their motorcycle more frequently often end up purchasing a separate policy. How much should you be paying?
Value Penguin conducted a survey this year to determine the average motorcycle rate and which states go above and below. Nationally, a typical rider pays about $520 yearly – still less than auto coverage – but its extremes vary greatly.
Before getting quotes from each state’s major carriers, Value Penguin devised a prototypical rider: a 45-year-old male who wants $100,000 in bodily injury, $300,000 per accident and $50,000 in property damage, with $500 deductibles for comprehensive and collision.
Connecticut falls below average among all 50 states; a typical rider pays about $389 per month – roughly 25-percent below average. However, other states have even lower rates, with nearby New Hampshire falling under 32-percent below the average. Other areas with low rates were in the Midwest and Great Plains.
At the other end of the spectrum, a rider in Louisiana should expect to pay $896 per year. Texas, Florida, Michigan and Delaware followed with rates significantly above average.
Yet, as Value Penguin found, rates only paint part of the picture. Statistically, premiums get lower in states where more people ride. For instance, one in every 17 people in New Hampshire has a registered motorcycle. By contrast, only one in 67 people in Louisiana has a bike registered.
Motorcycle insurance is essential, even if you’ll only be riding for a few months out of the year. Explore coverage options that suit your riding needs with Ion Insurance. To learn more about what coverage may be right for you, give us a call today at 203.439.2815.