Factors that Affect the Cost of Motorcycle Insurance Premiums
Motorcycle insurance is a tricky business since there are a variety of factors that can and will influence your insurance premiums. On the issue of helmets, your premiums will be affected by motorcycle helmet laws. As you can see, calculating motorcycle insurance premiums is no small task due to the many aspects that an insurer has to consider.
Age is a big factor that insurance companies use to calculate your motorcycle insurance premiums. The statistics prove that the risk of operating a motorcycle actually corresponds to a certain age demographic, if you are between the ages of 17 and 25, you should expect to pay the highest motorcycle premiums because you are typically involved in the most accidents and also file the most claims of any demographic.
If you are female and want to ride a motorcycle, you will face some good news in the form of lower premiums. The stereotype exists out there that male riders are just more prone to accidents and collisions than female riders, so a gender-based bias does exist against male riders. However, by December of 2012, insurance companies will be barred from depending on gender to establish rates for riders.
Type of Motorcycle
Your motorcycle premiums will also be heavily influenced by the type of motorcycle that you ride, as in its make and model. Premiums are going to be higher for you if you ride a more expensive motorcycle since the cost of replacing said motorcycle would be much greater than a less expensive one. The same thing can be said for the factor of power: The more power your motorcycle has, the more it will be involved in accidents that are also more costly. Finally, if the type of motorcycle you own is a particularly hot one that is in great demand among riders, then the insurance company will judge that your motorcycle has a greater danger of being stolen. As a result, your premiums will be raised by the insurance company.
In the U.S., not all states mandate that you must wear a helmet while you ride your motorcycle. In fact, in most states, it is entirely up to you whether or not to wear one. Not wearing a helmet is not advised, though, because of all of the risks of serious injury and death, especially when riding at high speeds and involved in serious accidents.
The premium will increase if you do not wear a helmet for the simple fact that the insurance company will look at you as a bigger liability and risk in case you get into an accident. This applies both to states where there are laws on the books about wearing helmets and states without any mandatory helmet laws.
Your motorcycle insurance premiums can be affected by a whole list of factors, as evidenced above. When choosing your motorcycle insurance, you should help yourself by adopting behaviors and habits that have the effect of lowering your premiums. For instance, wear a helmet when you ride your motorcycle.
We are committed to helping you find the right policy for you, at the right price. To discuss your needs Motorcycle insurance in Duncan, Greenville or Spartantburg contact Hendrix Insurance or request an Motorcycle insurance quote.