Best and Worst States for Motorcycle Insurance
Updated: Sep 20, 2020
If you’ve read some of our other articles on motorcycle insurance, then you know that the state you live in matters. It dictates whether or not you need insurance and what type of insurance will be required. It also influences the cost of that insurance. Why is that the case? Well, under America’s federalist system, states are allowed to make laws they determine are best for their residents, as long as it does not go against federal law. So, every state is different in terms of what is legally required. In addition, the conditions of a state, as well as, the drivers in that state influence these decisions.
What is Required?
First of all, a good way to begin the hunt for motorcycle insurance is to visit DMV.org and search “Motorcycle Insurance Minimum Requirements”. There, you will have the option to select your state and view all of the specifics. They will tell you the insurance requirements with definitive amounts, as well as, the optional coverage. In addition, they will discuss helmet requirements, if applicable, and proof of insurance and financial responsibility. Finally, the site outlines the penalties for any drivers who are not in compliance. Armed with this information, you can then start to compare quotes and make sure that you have the appropriate coverage.
What Affects Price?
In some states, insuring your motorcycle will be cheaper. It’s not just random chance. The amount of people driving motorcycles in your state actually affects the cost. More people riding motorcycles actually leads to lower insurance rates. You might think that would create riskier roadways and drive the costs up, but it has the opposite effect. Having more insured motorcycle riders on the road means lower rates, on average.
Examples
Those living in North Dakota, Iowa, and Oklahoma, are in luck, as these states have the most riders. On the other hand, if you reside in Louisiana, Texas, Florida, or Michigan, you are not quite so lucky. Still, the changes in average rates are not drastic. They range from $24 in North Dakota to $75 in Louisiana, in terms of monthly costs. Of course, these differences can certainly add up over time, amounting to roughly $600 per year. So, you might want to consider where you live before you decide to buy that Harley.