Why is motorcycle insurance so expensive?

Question

I figure that if I finance a new motorcycle, I will have to get collision. So I go and get a quote from Progressive on an Aprilia SL 750. Just liability = ~70$ a month. Liability Comprehensive Collision = ~$650 a month.

$650 a month = the cost of the bike in one year.

18 year old male with one prior minor moving violation

Answer 1

try aaa or gieco they have always done me right progressive is a ripe off  

Answer 2

Before you give up, try a few other insurance companies. There are many factors that go into making the rates and different companies weight them differently.

When I've gone looking for quotes I've been amazed at the differences between the companies.

Answer 3

Did you ever see those squids doing 90 MPH wheelies, passing between 2 autos, doing stopees, doing 115 MPH in a 30 MPH, etc?  If you have, then you should know why your insurance is so high.

Answer 4

that seems high try dairyland insurance. i pay 200 a year for full coverage on my 800cc. and when i was kid (15) i paid 72 dollars a year for liability.  

Answer 5

Pretty simple, they DO NOT want to insure You. Their past experience tells them that 18 Year old Males are at high risk  for accidents. Since is is illegal to deny coverage, they simply make it exhorbantly expensive.

Answer 6

The type of motorcycle is also a factor. Spots bikes with young riders are notorious for having serious accidents.

Answer 7

statiscally, your youthfulness makes you young......

Answer 8

It is a huge ripoff by the insurance companies.

Answer 9

Your age is a factor, younger people pay more because they are considered inexperienced and are on the basis of available data more likely to be involved in an accident.

Then comes the make/model of motorcycle and cost to replace and/or repair.

Then comes the little fact that motorcycle riders are 4 times more likely to be involved in an accident where they are either seriously injured or killed.

Not my opinion, based on Insurance Institute information.

Answer 10

single white male under age 25 is the highest premium. you guys have a lot of wrecks I gues. gotta remember insurance companies arent in the business of paying out!!

Answer 11

Sorry, this is the reality of being a young inexperienced rider.  You and others your age have very little driving/riding experience.  Your age group has a high rate of having accidents.  To cover a car crash, the insurance looks at the cost of insuring the car.  Most car crashes cause little bodily damage to the occupants due to the safety features built into the body of the car.  When you crash a motorcycle, the bulk of the cost are medical.  That can run into the hundreds of thousands of dollars.  So you have to pay for the mistakes and inexperience of others.  

Save your money and wait until you are at least 21.  Until then buy that old 70's bike and make a project out of it.  I have a 1978 XS650 Yamaha sitting in the garage just waiting to be resurrected.

Answer 12

It's because of your age, the younger you are the more likely you are to have an accident. and unfortunatly likely to do stupid things.  i know i've been there and done that.