When you buy motorcycle insurance, you might be wondering how your insurance company comes up with the premium prices for each motorcycle driver. Here are some of the factors that a motorcycle insurance Harrisburg PA provider may use to arrive at the price to charge.
Type of Motorcycle
A main factor that helps determine the price of your motorcycle policy is the age and type of motorcycle that you are insuring. With smaller motorcycles, you won’t pay as much as you will with larger ones. Some motorcycles with more horsepower can cost you thousands of dollars each year in insurance costs. Also, it’s more expensive to purchase an insurance policy for newer motorcycles because it typically costs more to replace them in case of an accident.
Age of Driver
Another common factor used to determine a motorcycle insurance Harrisburg PA premium is the age of the driver. Younger drivers are considered a higher risk and will pay more on their premiums each month. That’s because they don’t have as much experience as older drivers, but they are also considered more reckless than older drivers as well. Younger drivers can reduce the costs of their premiums, however, if they go through a motorcycle training course offered by the DMV.
Some insurance policies take into consideration your location. If you live in an area that typically has higher traffic or higher crime rates, your motorcycle insurance premiums are going to be higher than policies for people who live in low crime and low traffic areas. In addition to that, the number of miles you drive your motorcycle on a daily basis will be part of the determining factor in the price of your premium. If you only drive it occasionally, your rates are going to be lower than someone who drives their motorcycle every day.
Do you have a garage where you can park your motorcycle when you aren’t using it? That’s going to help make your premiums lower than someone who stores their motorcycle in an outdoor garage. Motorcycles that are parked outdoors are more of a target for thieves and vandals which makes them a higher risk. As a result, the premiums are going to be higher.
Finally, your driving record is going to be a major factor when it comes to auto insurance Harrisburg PA premiums. If you have a history of accidents, your premiums are going to be much higher than for drivers who have a safe record.