Factors That Affect Motorcycle Insurance Costs

While all the details involved in insurance policies can make things appear overly complicated at first glance, all of it leads back to one principle. The greater the risk, the more it costs. We here at Beach House Harley-Davidson® want to make buying motorcycle insurance as simple and easy as possible. That is why we have created this rundown on the major factors that determine how much you pay for motorcycle insurance.

Your Driving Record

Your driving record is one of the most important factors when it comes to how much you pay for motorcycle insurance. While insurance companies cannot 100% predict the future, looking at past incidents like traffic violations and at-fault accidents can give them a good idea of how risky you will be to insure. Insurance companies check your driving history for the past three to five years, depending on your state, and you can expect to pay more if you get into more accidents. 

Luckily, the reverse is also true. A few years of practicing safe driving and avoiding speeding tickets will eventually pay off in the form of cheaper premiums, so there is still hope even if you currently have a bad record. 

Insurance Coverage

In most cases, insurance companies will offer various levels of coverage. Be warned that even if you have enough coverage to satisfy state requirements, it may be a good idea to purchase additional coverage, even if that means more money spent. 

Insurance History

If you are purchasing insurance for the first time, that lack of prior history makes it more difficult for insurance companies to assess how risky you are. They prefer to err on the side of caution, so new insurance holders have to pay more for coverage. A gap in coverage, as in a time when you went uninsured, is seen as a sign of high risk, meaning more expensive premiums. 

Type of Bike

What type of Harley® you ride can also be a factor. Insurance companies will look at past claims from similar models and evaluate repair costs, theft rates, and payments made for comprehensive claims. Every company has its own pricing system, so it is best that you shop and find the best quote for your specific model. 

We here at Beach House Harley-Davidson® hope this article has helped you understand motorcycle insurance a little better. For more information or to view our selection of new and pre-owned Harley-Davidson® motorcycles, visit our dealership in Shallotte, North Carolina. We also offer parts, financing, and apparel. We are proud to serve areas like Brunswick County, North Carolina, and we hope to see you soon!