Cheapest Motorcycle Insurance for Young Riders
Zooming down an open highway on two wheels gives a sense of freedom and adrenaline that no four-wheeled cage can replicate. But the joyrides of a young motorcyclist revving up to ride come with increased risk and insurance costs. Premiums can be brutally expensive for younger riders lacking experience records to earn discounts.
What’s the cheapest way to score motorcycle insurance as a youthful thrill seeker? Let’s explore the low cost options to keep you legal while chasing excitement on the roads.
Typical Motorcycle Insurance Rates for Young Riders
Unlike other vehicles, a motorcycle premium sees drastic surges based primarily on the age and expertise of its pilot rather than just coverage amounts. Prices plateau once a longer history gets established. But insurers charge giant risk premiums in early years expecting mistakes.
On average nationwide, motorcycle insurance yearly costs for young riders fall in these ranges:
| Driver Age | Yearly Premium Range |
|---|---|
| 16-18 years | $2000+ |
| 19-20 years | $1500-$2500 |
| 21-24 years | $1000-$2000 |
Compare that to middle-age riders averaging just $500-800 per year for similar bike styles and coverage limits! Location and driving records move the needle too, but age remains the dominant rate factor for motorcycles.
Let’s examine why youth correlates so strongly with premium prices in the motorcycle insurance realm.
Why Young Riders Pay So Much for Motorcycle Insurance
Actuarial tables don’t lie – certain risk factors provably increase changes of accidents and insurance claims. Data clearly shows young riders on fast bikes crash substantially more often than middle age riders, costing insurance companies piles of cash.
1. Lack of Experience at High Speeds
Controlling a nimble motorcycle is very different from a bulky car, especially at 75+ MPH speeds. Subtle leans and weight transfers keep stability. Newbies struggle gauging those motions resulting in wrecks. Insurance charges high premiums expecting beginner errors until skill improves.
2. Risk Taking Behaviors More Common
Younger generations naturally exhibit more aggressiveness and thirst for adrenaline in driving. Quick acceleration, tightly weaving through dense traffic, taking curves at extreme angles etc heighten dangers compared to lawful conservative operation by older riders. Wreck payouts hit insurance bottom lines hard.
3. Peer Pressure & Showing Off Risks
Packed group rides with fellow young bikers often bring peer pressure encouraging foolish recklessness. Even solo, youth want to show off flashy skills pushing boundaries too quickly without gradually honing abilities. Again this predictably spikes claims.
4. Financial Irresponsibility Correlations
Data shows young riders often overlap with sketchier overall life financing habits like lacking health insurance, meager savings, risky jobs etc. This hints at general fiscal instability that makes the insurer expect higher eventual payouts in a major crash. They see clients less able to pay crushing medical bills themselves so the policy has to pick up more slack.
Cheapest Motorcycle Insurance Companies for Young Riders
While the average 18-year old may pay $1500+ per year for basic liability coverage, pricing does range substantially across insurers. Competition for youthful business pushes some carriers to offer relatively affordable rates in hopes of capturing lifelong customer loyalty as riding years progress.
The best motorcycle insurance companies for younger budget riders include:
- Geico – Advertises strong starter discounts for safety course completion & good student grades, policies start around $40/month
- State Farm – Larger premium cuts than normal for 3 years clean riding, shared bundled policies with parents can drop costs too
- Progressive – Snappy quote comparison process with flexible options for high deductibles to secure low rates
- Markel – Specialty insurer with extremely competitive pricing for recreational vehicles like motorcycles, ATVs, golf carts etc
- Dairyland – Quirky smaller company attracting younger riders through targeted online advertising and tailored premium packages
As always, comparison shopping quotes across insurers remains vital before renewing the first policy you find. Rates regularly fluctuate by 30% across brands.
How to Get the Cheapest Motorcycle Insurance as Young Rider
Beyond picking the companies already positioned for budget pricing – what other steps can a young rider take to legally minimize insurance costs riding a bike?
1. Ask Parents to Share Policy
For riders still living at home, many top insurers allow adding motorcycles onto existing family auto policies at reduced rates. Parents with excellent records, tenure discounts and bundled multi-line policies makes costs way cheaper. Premium differences of a few hundred dollars can be achieved this way since risk is shared under their history.
The key is typically keeping the ownerships of vehicles formally tied to the parents, rather than trying to split off a standalone youth motorcycle policy until mid-20’s. Shop around for carriers catering well to parent/youth combo coverage like national brands such as Allstate, State Farm and AAA.
2. Take Extensive Safety & Skills Training
Both formal motorcycle safety foundations sponsored by states and manufacturers themselves like Harley Davidson offer riding academies and multi-day training camps to hone technique and roadway knowledge for new operators.
Graduating with certifications from these programs can trigger nice discounts from insurers who want to incentivize education reducing eventual payouts. Claims probability drops as riding preparedness improves. So insurers reward that effort upfront with premium cuts ranging from 5-15% typically.
3. Install Anti-Theft Devices & Storage Precautions
Since motorcycles face high theft risks from lacking doors/windows and quick hot-wiring exposing them to vandal theft joyrides, companies reward owners taking protective measures with rate cuts for:
- Active Alarm Systems
- GPS Trackers
- Quality Locks & Chains
- Locked Garage Storage
- Security Cameras Monitoring Bikes
The more you can demonstrate reducing exposure to preventative risks beyond just riding behaviors, the more insurers see you as a good bet deserving a discount. Stacking enough protections can lop 10%+ off fast at early ages.
4. Opt for Older Bikes With Higher Deductibles
As with car insurance, premium costs closely tie to the motorcycle’s sticker price, repair complexity and theft attractiveness. Confining yourself to purchasing classic bikes or basic second-hand models saves money upfront on acquisitions and keeps insurance rate hikes lower over cutting edge luxury bikes loaded with fancy tech.
Pairing those asset purchase decisions with selecting higher deductibles also prevents premiums from surging wildly out of reach. Accept more out-of-pocket risk in case of accidents to offset insurance charges where possible.
5. Maintain Spotless Driving Records
This last tip is universally true for any vehicle insurance. But especially on a motorcycle, even minor ticket fines can prompt insurer rate hikes quickly making coverage unaffordable. Drive extremely carefully obeying every traffic law to keep violations off your record if hoping to secure budget premiums.
Common Discounts to Maximize for Young Motorcycle Riders
Beyond tactical bike selection/storage and driving prudently, motorcycle insurers dangle a variety of common discount opportunities that younger riders should seize quickly to benefit from lower rates:
- Good Student – For those still in high school or college, a high GPA usually earns premium savings between 5-15%
- Safety Course Credits – Discount for completing certified defensive riding instruction
- Multi-Policy – Add a motorcycle to existing auto policies with the company
- Anti-Theft Installations – Documenting alarms, trackers etc protecting your bike
- Usage Limits – Restrict yearly mileage ridden to secure lower driving exposure risk
- Multi-Rider – Limit covered users of your bikes to yourself only
Because premiums have so much room to plunge over time as experience years accumulate, seeking all discounts early accelerates how fast decent rates arrive. Remember that loyalty to one carrier also often pays escalating rewards after reaching customer tenure milestones claims-free.
So the dire premium sting besieging young riders gets less oppressive over a diligent multi-year journey of riding prudently and continuing education. Some patience, discipline and deal hunting goes a long way at the beginning!
Can You Finance Motorcycle Insurance to Spread Out Costs?
With extremely steep motorcycle insurance pricing hampering affording a bike for teenagers, young adults often ponder financing options to lower initial out-of-pocket impacts even if increasing total long term costs.
The good news is many top insurers like Geico, Progressive, State Farm and Allstate all offer installment structures allowing customers to pay premiums monthly rather than big lump sums every 6 or 12 months upfront. This segments costs into more digestible bites without requiring an actual loan.
In some cases, interest or fees do apply with premium financing needing actual credit checks or approvals. But basic installments to divide annual premiums across 12 months prove very popular for motorcycle owners facing giant renewals limiting cash flow flexibility otherwise.
Just be sure to set payment dates to align tightly with income schedules and other existing monthly obligations. Skipping insurance payments can quickly sink driving legalities, so build enough buffer room into plans.
Will Rates Eventually Drop for Young Riders?
The heaviest insurance costs burdening motorcycle enthusiasts at early ages does ease up over time assuming clean records continue. By mid-30’s, most experienced riders with no incidents enjoy premiums dropping to 1/3rd compared to teen years.
Here is a typical premium cost curve to expect as tenure extends for the average rider sticking with one insurer claiming no incidents:
| Riding Tenure | Sample Yearly Cost |
|---|---|
| Age 16-18 | $2000+ |
| Age 19-24 | $1500+ |
| Age 25-29 | $1000 |
| Age 30-39 | $500 |
| Age 40+ | $300 |
The key inflection points come in mid-20’s once achieving financial independence stability, followed by 30’s where wisdom improves mindsets to fewer risks.
Of course, avoiding any major crashes or serious violations remains critical to keep discount tenure building without interruptions to record! But over a patient decade, initial painful rates do descend to more reasonable levels.
Is Cheapest Insurance Enough Coverage for Young Riders?
With premium sticker shock slamming teenagers and college students, many pursue bare minimum liability-only policies just to check the legal box for making bikes street operable. But is it worth risking financial safety to pluck the cheapest motorcycle insurance possible?
Consider Enhancing Liability Limits
Most states require only minimal liability insurance for motorcycles like $15k per person and $30k per accident in injury coverage or $10k in property damage coverage. These limits would hardly make a dent handling hospital bills and lawsuits from anything beyond a fender bender!
Bumping minimums up to higher levels like:
- $100k per person injury liability
- $300k per accident injury liability
- $50k+ property damage coverage
Costs very little extra per month while massively strengthening protection from the largest personal risks bike accidents pose. Don’t leave assets vulnerable out of temptation to achieve the rock bottom lowest premium possible. A few extra dollars brings way more peace of mind!
Conclusion
Finding affordable motorcycle insurance allowing younger riders to satisfy legal minimums and responsibly operate bikes does require some persistence and sacrifice. Cost cutting tactics like enrolling in skills training, installing anti-theft protections, maintaining clean records and annual mileage restrictions all help unlock the most favorable rates the market can offer.
Paying premiums upfront in full also secures lower pricing overall compared to paying via monthly installments over time. Every little bit helps chip away at those early age surcharges imposed by cautious insurers.
While rates eventually decline given enough tenure, starting off on the cheapest policy possible allows bikers to maximize jouneys out on open roads during peak enjoyment years. Compare all discounts and incentives to keep your ride dreams rolling!
FAQs – Cheap Motorcycle Insurance for Young Riders
How much is motorcycle insurance for a 16 year old?
- Average motorcycle insurance costs for a 16 year old fall between $2000-$3000 per year for basic liability coverage. Rates are highest for new teen riders thanks to motorcycle risks and lack of experience. Extremely high premiums compared to automobile insurance.
How to get cheaper motorcycle insurance under 25?
- Young riders under 25 can lower rates by taking safety courses, adding bikes to parents’ existing policies, installing anti-theft protections, opting for older used bikes with higher deductibles, restricting annual mileage, maintaining good grades and maximizing tenure discounts by sticking with one provider over time.
What is lowest cost motorcycle insurance company for youth?
- Geico, Markel and Progressive insurers consistently offer some of the most affordable motorcycle insurance rates targeting younger riders through extra discounts. But comparison quotes still recommended because pricing relies heavily on specifics of driving history, bike type, coverage levels and state regulations.
Can I pay motorcycle insurance monthly instead of large lump sums?
- Yes, most major insurance companies like Geico, State Farm and Allstate offer monthly installment plans to pay premiums gradually across 12 months instead of giant 6 or 12 month lump sums. This segments costs to align better with income schedules. Minimal fees sometimes involved with installment structures depending on total policy costs.
Will motorcycle insurance rates drop after age 25?
- Yes, average motorcycle insurance premiums see sharp reductions after crossing age 25 assuming a clean driving history has been maintained. Rates plateau again around age 30-40 absent any accidents or violations. Tenure discounts reward sticking with one provider long term through the rate descent.
