How the Motorcycle Insurance Company rates you and how motorcycle insurance premiums are determined

Insurance, especially motorcycle insurance, is basically odds and statistics.  The motorcycle insurance company through the following criteria, determines how much risk is involved if they insure you. The higher the risk you are to them the higher your rate will be. The following are the key elements that are used by motorcycle insurance companies to determine your risk rate.

1.      Your Age: As with auto insurance, usually the older you are, the cheaper your rates will be. But, if you are new to operating motorcycles you will probably be in a higher rate category until you gain some riding experience.

2.      The type of bike: If you have the latest and flashiest bike, that will cost you more than an older, basic motorcycle.

3.      Your Address/Garage Location: Sometimes the high insurance rates you receive can be greatly influenced by where you live. If you live and/or regularly drive in a high crime or high accident area, your rates will likely be higher than someone in a zip code with less crime and accidents.

4.      Your Driving Record: All accidents count. Even if you are new to a motorcycle, the accidents you had in your automobile will count against you. Therefore, the cleaner your driving record, the cheaper your insurance will be.

5.      Your Job: Where you are driving to and parking your bike will influence your rate. If you have to keep your bike parked on a construction site, you insurance may be increased due to the increased risk of injury to your bike.