Motorcycle Insurance Articles
What The Growing Number Of Women Riders Means For Motorcycle Insurance
2010-10-12
In the last decade, the popularity of motorcycles among women has grown enormously. Motorcycles have always been one of the most exciting and efficient forms of transportation, but for some reason female bike owners have become more common, possibly due to high gas prices and other economic factors. This has greatly affected the motorcycle insurance industry, because insurance companies use gender when figuring rates. The influx of women riders has affected actuarial tables and led to a major change in the average cost of motorcycle insurance quotes. This change has some implications for bike riders.
Female bikers are statistically safer according to insurance company actuarial tables. Incidentally, female car drivers are also statistically safer than their male counterparts, so all types of transportation insurance companies offer better rates to women as a result of these statistics. Female bikers can receive special discounts in their bike insurance rates. The difference in motorcycle insurance quotes is most prominent among younger bikers, as young male bikers are considered to be much bigger insurance risks and considerably more dangerous for insurance companies. They are less likely to receive preferential motorcycle insurance rates from providers unless they take safe biking courses or utilize other methods to push down the cost of their motorcycle insurance policies.
That is not to say that gender is the only factor that motorcycle insurance companies consider when they set insurance premium rates. The experience and history of the biker will have a much bigger effect than gender, and a dangerous biker will receive high motorcycle insurance quotes regardless of his or her gender. Age can also be a more significant factor after a certain point. Older women riders are often charged more than older male bikers because insurance company statistics reverse for elderly bikers. Of course, there are generally less elderly bikers than there are elderly car drivers-many people switch to cars in their older age, so for some motorcycle owners, the age factor is not a significant consideration. Nevertheless, gender is not the only factor involved in motorcycle insurance quotes and should not be considered as such.
Motorcycle owners can keep the costs of their coverage down by looking online for insurance rates, regardless of their gender and other insurance factors. Gathering quotes enables drivers to overcome the factors that push up the cost of their motorcycle insurance without reducing their coverage. The rise in the number of women riders has led to historically low motorcycle insurance rates, but all drivers could use lower premiums for the same amount of coverage. Thanks to the ease of online motorcycle insurance quotes, finding cheap motorcycle insurance is an easy task for any rider.