You need to ensure you have motorcycle insurance before you drive off on your new motorcycle. If you’re concerned about this expense, you’ll be happy to know that motorcycle insurance is cheaper than auto insurance. But exactly how much is motorcycle insurance? The average cost of motorcycle insurance is $519 per year, which is around $43 per month. However, the amount you will pay can vary, based on many factors.

Do I Need Motorcycle Insurance?

Like auto insurance, motorcycle insurance is a requirement in almost all states. Only four—Florida, Montana, New Hampshire, and Washington—do not require it. In any case, it’s good to have, especially in the event of an accident.

Factors That Affect Motorcycle Insurance Rates

Several factors affect the cost of motorcycle insurance:
  • Location. Where you live affects rates. The average motorcycle insurance cost in Florida, for example, is around $15 per month. In Texas, it is $17.21 per month. In California, you can expect to pay $20.74 per month.
  • Type of motorcycle. A high-performance motorcycle with a big engine will cost more to insure than a smaller bike.
  • Riding experience. The more experience you have, the less you pay. That’s because older, more experienced riders get into fewer accidents.
  • Frequency. The more you ride, the more you pay. Your insurance company may base your rate on the number of miles you typically ride.
  • Traffic tickets. Speeding tickets and other citations on your record will increase your rates.
Now that you know how much motorcycle insurance is, you can budget for this expense and make sure you are well-protected in the event of an accident.