How much should you pay for motorcycle insurance in California
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Motorcycle insurance costs can be astronomical if you’re a high-risk rider. Even if you have a relatively clean driving record, you could still be charged some eye-watering rates if you’re riding a new bike.But how much should motorcycle insurance cost in California? What’s a good price, and how do you know if you’re getting a good deal or not? Let’s find out.
How Much Does it Cost to Insure a Motorcycle in CA?
Insurance costs vary considerably. Typically, you can expect to pay anywhere from $200 to $3,000 a year in California. But there are a few different factors that can influence this cost:
Your Coverage
The law requires you to have a certain amount of bodily injury liability coverage and property damage coverage. These coverage options protect you if you are involved in an accident and cause damage to someone or something. In California, the minimum coverage requirements are as follows:
- $15,000 bodily injury per person
- $30,000 bodily injury per accident
- $5,000 in property damage liability per accident
If your bike breaks down or is destroyed after hitting a tree or animal, the insurance company doesn’t pick up the bill, so it doesn’t need to worry too much about potentially expensive outcomes.However, if comprehensive and collision coverage are included, the insurance company will cover the costs of most types of damage, as well as theft, vandalism, and “acts of god”. When both options are added to an insurance policy, it can increase the cost significantly.The addition of uninsured motorist coverage and other add-ons will also increase the price.
Your Risk Status
Do you have a clean driving record? Have you been given any speeding tickets or other infractions? The insurance company will always consider your level of risk when providing you with a quote, and risk is largely determined by your driving record, previous accidents/infractions, and age.Statistically, young and inexperienced riders are much more likely to be involved in an accident and thus make a claim. To account for this increased risk, the insurer will hike up the premiums.
Your Bike
The size and power of your bike can impact the price of liability insurance, as bigger and more powerful bikes can do more damage to property and individuals. Street bikes are more expensive for this reason, as statistics suggest they are more likely to be involved in accidents.The biggest differences, however, concern collision and comprehensive insurance. New and expensive bikes are more expensive to replace and repair, so the insurance premiums will reflect this.Older bikes can also drive up the prices if parts are hard to find.
How Much is Motorcycle Insurance Per Month in California?
The average monthly costs vary from less than $20 a month to nearly $200. Many insurance companies provide discounts to policyholders who pay the full amount upfront. Others offer minor discounts for those who set up automatic payments.
How much liability insurance do I need?
From a legal point of view, you need $15,000 in bodily injury per person and $30,000 per accident along with $5,000 in property damage liability. But that doesn’t mean you’re completely covered should a serious accident occur.If you hurt someone or their property, they can claim an amount that exceeds your insurance coverage. To offset this risk, it’s recommended that you increase your liability coverage to an amount that covers your net worth. That way, you don’t stand to lose everything in the worst-case scenario.
Do I need comprehensive coverage and collision coverage?
It is not a legal requirement and will almost certainly increase your motorcycle insurance quotes, but it could be essential if you have a new bike or an otherwise expensive bike.Think about what happens if you ride into a deer, tree, or guardrail, or if your bike is vandalized. Can you afford to cover the costs? Do you have the means to repair it cheaply? What if the bike is stolen? Would you stand to lose a lot of money?Comprehensive and collision insurance will cover you for these eventualities, but they come at a cost. You must calculate this cost against the added security and peace of mind and then determine if it’s worth it.For many, it’s worth getting full motorcycle insurance coverage on bikes that cost more than $5,000, especially if they are the only mode of transport. But if the bike is worth less, the additional costs might not be worth the added coverage.
Why is Motorcycle Insurance So Expensive in California?
Motorcycle insurance is a little more expensive in California because the state has a year-round riding season, as well as a high population density. It means that riders spend more time on the road and are more likely to hit other vehicles.As for why motorcycle insurance is more expensive right now, well, it’s for the same reason that everything else is more expensive.Inflation drives up the cost of wages and expenses, which means the insurance company spends more money on its staff members and repairs. Parts are also much more expensive than they were a few years ago, and as you may have noticed, the price of cars and motorcycles has increased as well.
How Can You Pay Less for Motorcycle Insurance in California?
You now have a good idea of why your quotes are so high, but what can you do about them? Well, there are several ways to reduce the price of motorcycle insurance:
Compare motorcycle insurance quotes
You should never take the first quote that you get. Whether you’re shopping for home insurance, auto insurance, or motorcycle insurance, the quotes can differ wildly from one insurer to the next.One might charge you $2,200 while another offers a more reasonable $1,500. You will only know if you run some comparisons, so check, compare, and see what you can get.
Get a cheaper bike
If you have yet to buy a bike, it could be time to rethink your plans. Rather than getting the biggest and faster bike you can afford, consider something a little more sensible and affordable. Not only will you save money on the purchase itself, but you could save a small fortune on the insurance.
Consider your coverage and deductible
Do you need collision coverage and comprehensive coverage? What about higher liability limits or a low deductible? All of these things contribute to higher premiums, and while they provide extra coverage and security, they might not be needed.
Take a motorcycle insurance safety course
Most motorcycle insurance companies offer discounts to riders who complete safety courses.In California, you can save money by taking courses run by the California Motorcyclist Safety Program (CMSP), including the Motorcyclist Training Course (MTC), which is required for riders under 21 and recommended for everyone.
Use payment discounts
By paying for your premiums upfront, you could save a few percentage points on your insurance policy. If that’s too much to ask, look for paperless billing discounts and auto-pay discounts. They make a minor difference, but it all adds up.
Join a motorcycle organization
Many insurers offer discounts for members of certain organizations, including AAA, AARP, and motorcycle clubs like the Harley Owners Group. You may need to pay for membership, but the savings alone could make it worthwhile and there are other benefits as well.
