The cost of the premium associated with motorcycle insurance can vary depending on several factors, such as the characteristics of the motorcycle, the personal circumstances of the driver, and even the place where the insurance is contracted.
In any case, in addition to the price of the premium, it is important that before opting for one or another policy, you check in detail the different coverages that each one offers you so that they adapt to your demands and needs.
How much is motorcycle insurance worth?
The price of your motorcycle insurance will depend primarily on the modality you choose. Most of the motorcycles that circulate in Spain have contracted third-party motorcycle insurance with assistance since it is the cheapest.
Now, if you have a high-end motorcycle and you want to protect it, it is more advisable to take out comprehensive insurance, and if the price is out of your budget, you can always hire it with excess, which will allow you to reduce the premium in exchange for paying part of the repair out of your pocket in the event of an accident.
If you decide on the most basic type of motorcycle insurance, which would be third-party insurance without assistance and, as such, would only cover mandatory civil liability and legal defense, you can find policies from 69 euros per year at Doctor i.
If, on the other hand, you opt for comprehensive motorcycle insurance with excess, the prices would range from 250 euros per year onwards. These are, in any case, indicative prices since the companies take into account many factors to calculate the premium: type of motorcycle, cylinder capacity, age of the driver, etc.
What factors influence the price of motorcycle insurance?
The main elements that will condition the price of your motorcycle insurance would be the following:
- Type of motorcycle and cylinder capacity.
- Driver’s age. Those under 25 years of age are considered risky drivers, which means that the premium is more expensive for this age group. On the other hand, from the age of 45, the price of the insurance is slightly reduced.
- Age of driving license. This factor is related to driving skills and, therefore, to the probability of having an accident. Therefore, the older your car is, the cheaper the insurance will be.
- Accident history. If you have declared numerous claims in the past, it is more than likely that the insurer will increase the price of your motorcycle insurance.
- Place of residence. Depending on the accident statistics in each region, companies also take into account the place of residence when measuring risk and, therefore, setting the price of motorcycle insurance. In this sense, Canarias is the most expensive autonomous community to take out this type of insurance, while La Rioja is the cheapest.
How to save on motorcycle insurance
Before hiring motorcycle insurance, consider the following recommendations since they can mean significant savings on your policy:
- Carefully analyze what coverage you need, considering the characteristics of your motorcycle and the use you will give it, and compare between several companies with a motorcycle insurance comparator.
- If you already have insurance for another vehicle, check if your company also offers motorcycle insurance, since as a customer, it is likely that they will give you a discount.
- Take advantage of the renewal date of your insurance to review the market offers again and see how prices have evolved.