Motorcycle Insurance Articles
How Your Age Can Change The Cost Of Your Motorcycle Insurance Rates
2010-03-31
If you need motorcycle insurance and you are younger than 25, you will pay more for your premiums. When you reach the age of 25, your motorcycle insurance rate will drop. Statistics carry the most weight when insurance carriers establish their motorcycle and auto insurance rates. Research shows that young adults are more likely to get into accidents. So if you are in a high risk age group, you will a face higher motorcycle insurance premium. Studies also show that 40 to 50 year olds pay a lot less for their insurance premiums because they are in a safer age group. Additionally, inexperienced drivers and single people are more likely to have higher auto and motorcycle insurance premiums. Insurance companies believe that married drivers tend to be more responsible.
Insurance companies also believe that teenagers are the riskiest drivers because they are inexperienced. Many teenagers drive recklessly and take risks, endangering other drivers and themselves. Studies also show that vehicle accidents are more common with 16-24 year olds, and teenagers have a higher rate of traffic violations and minor automobile accidents. Fortunately, insurance premiums drop significantly when drivers and motorcycle riders reach the age of 25. Men can expect to save about 20 percent on their premiums and women save about 12 to 15 percent. Many 25 year olds have already graduated from college and some are married, so insurance companies believe that they are more responsible. Because of these statistics, insurance companies believe that younger adults are more prone to vehicle or motorcycle accidents, so they charge them more for coverage.
However, keep in mind that there are other factors that affect your motorcycle insurance premium like your driving records, the kind of coverage you purchase, your sex, credit history, and others. Please note that if you have a negative driving history, your insurance premiums may not drop when you reach the age of 25. If you want to find motorcycle insurance for a great price, your best bet is to shop around and compare motorcycle insurance rates. You can start by requesting a motorcycle insurance quote online. Insurance comparison websites will do the research for you and provide you with multiple insurance rates. You will be able to contrast and compare policies and rates with the leading insurance providers in your area. If you obtain a motorcycle insurance quote online, you will receive prices instantly. Lastly, if you find a motorcycle insurance policy for a reasonable price, you should contact the insurance company. Find out if they offer discounts to their customers. If you take advantage of such discounts, you will decrease your insurance premiums. If you follow these tips, you will find affordable coverage and save money.