Motorcycle Insurance Articles
How Motorcycle Insurance Quotes Are Calculated For Young Men
2010-11-03
Like auto insurance, motorcycle insurance quotes are calculated using a variety of factors. All of these factors are combined to come up with a final premium. No two individuals will pay the same for their insurance. In many cases, young men tend to take the brunt of the high insurance rates for several reasons.
When you compare motorcycle insurance quotes, the insurance company will ask you a multitude of questions about you and the motorcycle that you want to insure. First of all, the company will inquire about your age, gender, marital status, driving experience and driving record. According to statistics, young men have more accidents and traffic violations than females or older drivers. Part of this is because men are on the road more often than women, meaning that they have more exposure and likelihood of being involved in an accident. Young men also tend to take more risks, often driving more recklessly and at higher speeds. All of these reasons contribute to higher motorcycle insurance quotes.
The type of motorcycle will also influence the amount of premium you pay. A motorcycle with a bigger engine and more power will cost more to insure than a touring bike. Men tend to prefer these faster motorcycles, while women tend to gravitate to safer and slower bikes.
The geographic region of residence, the annual distance driven, and the use of the bike are also factors. Some cities and towns have higher crime rates than others, and premiums can reflect this. In cities with a high theft and vandalism rate, comprehensive insurance for motorcycles can be astronomical. This is also true with collision coverage. Motorcycles sustain more damage than cars and trucks when involved in an accident because of their small size. This is one reason why many people decline to add this insurance on their motorcycle policy. The higher the annual mileage is, the greater the chance of becoming involved in an accident becomes. Most motorcycles are used for pleasure rather than business, so this can actually lower the premium somewhat.
There are many discounts available for people who own motorcycles that can help reduce the premiums to a more affordable amount, especially for young men who usually pay the highest premiums. New drivers who take a motorcycle course are eligible for discounts with certain insurance companies. New motorcycle owners should ask their agent what discounts may be applicable to them.
If you are a younger male and are worried about high motorcycle insurance rates, there is no need to despair. As you gain years of experience on the road and keep your driving record clear of accidents, suspensions, and speeding tickets, your premiums will gradually decrease.