Motorcycle Insurance Price for 20-Year-Olds

Motorcycle Insurance Price for 20-Year-Olds

Find Cheap Motorcycle Insurance Quotes in Your Area

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We gathered quotes from some of the country's top providers and found that the price of motorcycle insurance for 20-year-olds is typically $909 per year. However, depending on your location and the company you purchase coverage from, the price you pay could exceed $1,500 per year.

Compared to younger riders, 20-year-olds tend to pay cheaper rates. In addition to your age, other factors can influence the price of motorcycle insurance, such as your personal insurance history and the kind of bike you own. Location is another primary driver of expensive prices.

How much is motorcycle insurance for 20-year-olds?

The average motorcycle insurance price for 20-year-olds is $909 per year, about $76 per month.

We found that the cost of motorcycle insurance for 20-year-olds is 30% more expensive than the average cost of coverage in the country for a typical 45-year-old driver. A 20-year-old motorcycle rider's rates greatly depend on location, provider, as well as on gender.

We compared prices in cities across the country and discovered that more than $700 separate the cheapest motorcycle insurance from the most expensive. The cost of coverage in Chicago is more than 50% cheaper than the rates we found in Los Angeles and more than $100 cheaper than prices in New York.

A bar graph showing the average costs of motorcycle insurance in New York, Los Angeles and Chicago
A bar graph showing the average costs of motorcycle insurance in New York, Los Angeles and Chicago

Gender can also play a role in the price of motorcycle insurance for 20-year-olds. Generally, many companies quote the same rates regardless of gender, but some companies weigh this quality disproportionately.

For example, Dairyland charges female riders in New York over $100 more for coverage than males. Allstate also charged its female applicants more, although we saw the rate difference between genders was less than $10.

Rider profileNew YorkLos AngelesChicago
20-year-old male$764$1,399$618
20-year-old female$794$1,406$616
Difference in rates-4%-1%0%

Gender only resulted in a 4% price discrepancy in the cities we surveyed. While our data indicates this factor matters less to motorcycle insurers than it does to car insurance providers, it's a good idea to compare the price you're quoted with a few different providers.

Who has the cheapest motorcycle insurance for young riders?

Nationwide charges the lowest motorcycle insurance price for 20-year-olds at $462 per year, or about $40 per month.

The cheapest motorcycle insurance for young riders is most commonly Nationwide. This is significantly cheaper than the average price for most riders this age and more than 50% cheaper than the most expensive company's rates.

A bar graph showing the average costs of motorcycle insurance for 20-year-olds by provider
A bar graph showing the average costs of motorcycle insurance for 20-year-olds by provider

Conversely, Dairyland's motorcycle insurance exceeds more than $1,100 per year. That's over $29 more expensive than the average price of motorcycle insurance for 20-year-olds. While Dairyland isn't the cheapest option in any city we surveyed, Nationwide's coverage varies: in Los Angeles, Allstate offers riders the best deal.

How to save on motorcycle insurance as a 20-year-old

As you age, your rates decrease. We've found that the price of motorcycle insurance for 20-year-olds is cheaper than bike insurance for 18-year-olds, who can pay nearly $1,000 a year for coverage. However, 21-year-olds pay over $100 less than 20-year-olds for motorcycle coverage per year.

The best way to save money is to compare prices offered by multiple motorcycle insurance companies. Rates can fluctuate drastically depending on your provider, and you may miss out on savings if you purchase the first policy you find just to satisfy your state's legal requirements. You could also save by qualifying for discounts offered by providers, including:

  • Electing to pay your bills electronically
  • Paying your premium in-full for for six months at a time, if you can
  • Renewing your policy with the same company, as long as you're happy with your service
  • Shopping with the company you already have another policy with

Is motorcycle insurance cheaper than car insurance?

Motorcycle insurance is much cheaper than car insurance. The average cost of car insurance for a 20-year-old is $5,333 per year, almost five times more than the typical cost of coverage for motorcyclists of the same age.

The difference between the two forms of insurance is due to vehicle size: In most cases, cars inflict far more damage or injury than motorcycles. Motorcycles are also worth much less than cars are, meaning there are fewer expenses for your insurer if your bike is damaged and needs repair.

Andrew Hurst

Andrew Hurst is a Technical Writer at ValuePenguin who writes about insurance. His analysis has been featured in Forbes, MSN and USA News, among others. He's also appeared in interviews broadcast by ABC and the CW. He previously taught composition and research at Wright State University.

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