Motorcycles are popular assets. Thousands of people use their motorcycles to take summer vacations every year. You may be a young rider eager to experience a new adventure. It’s recommended that you assess multiple quotes while brainstorming motorcycle insurance for an 18-year-old. Here’s a guide to help your riders find motorcycle insurance.
- The Significance of Motorcycle Insurance
Motorcycle insurance protects you while you are traveling around. Collision coverage assists with potential repair or replacement costs if your motorcycle sustains damage in an accident. Comprehensive insurance covers your motorcycle if it’s stolen or vandalized. You may also be covered in unique situations, such as your motorcycle being damaged in a fire or natural disaster. You’re expected to obtain minimum liability insurance to operate your vehicle on the road. Minimum liability insurance covers you if your motorcycle is responsible for injuring someone or causing property damage. Minimum liability insurance covers the injured party’s medical treatment and assists with potential legal fees if the impacted party attempts to sue you.
- Finding Motorcycle Insurance
Motorcycle insurance for an 18-year-old depends on multiple factors, including the state you reside in, the type of motorcycle being insured, your driving history, and the amount of coverage you want to add. Gender can also influence motorcycle insurance rates in some states. Research shows that young motorcycle riders pay over $900 per year for insurance. Your residence is substantial because you’ll have higher monthly premiums if you stay in an area with a lot of traffic. High-traffic areas are more vulnerable to potential accidents and theft attempts compared to regions where motorcycle riding may not occur as frequently.
- High Costs
Motorcycle insurance usually is expensive for young riders because of their inexperience. Research shows that young motorcycle riders are prone to be involved in accidents. Insurers generally classify young riders as high-risk. You can expect to pay higher insurance premiums if you’re classified as a high-risk rider. Once you obtain the necessary driving experience, you’ll start to see your premiums decline. However, you must maintain a clean driving record.
- Potential Savings
While motorcycle insurance for an 18-year-olds is expensive, you can do a few things to save money and alleviate some of the financial strain. Young riders have the option of joining a parent’s policy. You can join your parent’s policy if they have coverage with the same insurer. Joining your parent’s policy may be more affordable than purchasing your own.
Qualifying for a discount will also make things easier. You may qualify for a discount by enabling automatic payments, completing a safety course, or adding a motorcycle endorsement. You could also qualify for a discount if you have a strong academic record and are a honors organization member.
Consult with 01 Insurance
At 01 Insurance, we understand that young motorcycle riders may face challenges securing affordable insurance coverage. However, by adopting safe riding practices, it is possible to lower insurance premiums. Our team is dedicated to assisting you in finding the best policy to meet your needs and budget. Contact us to get the best Motorcycle Insurance coverage.