How much does motorcycle insurance cost?

June 6, 2018 Moto Insurance No comments

The cost of motorcycle insurance varies widely and depends on a number of factors. Generally speaking, motorcycle insurance costs tend to be higher for younger drivers and those driving a sports bike. However, each rider has unique circumstances that may influence the cost of motorcycle coverage for them. Read on to learn more about some of the factors that go into motorcycle insurance costs and how they might be impacting you.

Factors that influence the cost of motorcycle insurance

  • Vehicle type, year, make, model and engine size (in cubic centimeters). As you’d expect, insurance for a newer sport bike with a large engine will cost more than insurance for a used cruiser with a small engine. Learn more about the different types of motorcycles and their uses.
  • How the vehicle is primarily used. Insurance for a bike that is primarily used for pleasure riding/recreation will be less expensive than it would be for a bike that is used primarily for your daily commute or business/deliveries.
  • Modifications, conversions and customization. Has the vehicle been converted to a trike, modified, customized, rebuilt, salvaged or had the original frame replaced? If so, you’ll want to let your insurer know so that you are properly covered.
  • Coverage options. Are you looking for a bare-bones, state-minimum liability policy or do you need a custom motorcycle insurance package that includes collision coverage, comprehensive coverage, uninsured or underinsured motorcycle coverage, Roadside Assistance and an OEM endorsement?
  • Your age. Riders in different age groups pose different risks.
  • Your location. Rates differ according to geography, as well as where the vehicle is kept (which is sometimes referred to as your garaging address). Also, you may be eligible for a discount if your vehicle is stored in a locked garage.
  • Driving history. Have you had any accidents, violations or claims in the past 5 years?
  • Policy limits and deductibles. What level of protection do you need? If limits are too high, you’ll be paying for insurance you don’t need; too low, and you’re at risk of covering the difference out of pocket in the event of an accident. You’ll also be at risk of paying more out of pocket if you choose a high deductible in return for a lower rate.
  • Security and safety features and programs. A discount may be available if your vehicle has a professionally-installed radio or GPS theft-recovery system, or is equipped with a factory-installed anti-lock braking system (ABS). A discount may also be available if you take a safety course.

Lower the cost of motorcycle insurance with discounts

In addition to affordable rates, Nationwide offers a number of motorcycle insurance discounts, such as a multi-vehicle discount, a multi-policy discount and a riding association discount. Find out which motorcycle insurance discounts you may be eligible for.

Get a motorcycle insurance quote today

The best way to figure out how much motorcycle insurance is going to cost you is to get a quote.

Thankfully, getting an online motorcycle insurance quote from Nationwide is easy. To get a quote, visit our motorcycle insurance  page and enter your zip code to begin the process. You can keep your motorcycle insurance cost low with our annual On Your Side Review

Getting cheap rates on auto insurance

June 6, 2018 Car insurance No comments

Some insurance companies focus on the bare necessities for you to drive legally—bodily injury and property damage liability with the minimum limits—along with a claims process that’s spotty at best. Rather than take a chance on that cheap car insurance company, you can get quality coverage that won’t break the bank with Nationwide.

Nationwide’s insurance professionals can quickly design a car insurance quote that meets your precise needs, even for those on a budget. Rather than going with the cheapest car insurance quote, make sure the company you choose provides flexible coverage and billing options. For instance, Nationwide allows members to pay monthly, quarterly or semi-annually online, through the mail or over the phone. It’s important to keep long-term flexibility in mind when deciding on an insurance carrier, not just go with the cheapest car insurance option.

How do I get cheap car insurance?

Everybody wants the best value for their car insurance premium. That’s why Nationwide offers many ways to get low rates, including our car insurance discounts. But what really makes us unique is the quality we offer our members. Here are a few benefits Nationwide members get:

  • Dependable, customizable car insurance – you can choose the auto insurance policies that suit your lifestyle and budget.
  • Top-notch claims service – Nationwide Claims Service is there when you need it, 24/7. You can file a claim online or by phone.
  • An annual On Your Side® Review to ensure your coverage is meeting your needs.
  • Accident Forgiveness helps you avoid increased rates in the event of your first at-fault accident.

How can I lower my car insurance rates?

Certain factors influence your auto insurance rates, including some things you can control:

  • The kind of car you drive – The price and style of your vehicle will impact how much your rates will be. The age of your car also matters; older cars tend to be cheaper to insure.
  • The kind of coverage you choose – If you drive an older car with high mileage, you might consider dropping collision or comprehensive coverage if you need to keep your premiums low.
  • The amount of your deductible – Higher deductibles can significantly lower car insurance premiums. While it could mean more out-of-pocket expenses in the event of an accident, it could also mean paying less over time.
  • Where you keep your car – Rates are determined to some degree by the area in which you live and park your car.
  • The number of drivers on your policy – If you add someone to your policy, your rate will increase, particularly if that “someone” is a new teen driver. Statistically teenagers have more accidents so they’re more expensive to insure.
  • Your driving record – Insurance rates can sometimes increase after an accident or moving violation. The good news? You may qualify for a discount after a certain period of driving accident-free.

You can learn more about the factors that impact the cost of car insurance – and be sure to take them into account as you shop for coverage.

What about those discounts?

You can get more affordable rates on Nationwide coverage with our car insurance discounts, such as:

  • Multiple policies discount – When you carry multiple types of insurance policies from Nationwide (car insurance, home insurance, life insurance, motorcycle insurance and so on), you could qualify for lower premiums on each policy than if you had separate policies from different insurers. Think of it as a discount for bundling.
  • Affinity discount – We have established relationships with several organizations to offer discounts to their members. If you belong to such a group, you may be eligible for a discount on insurance from Nationwide.
  • Good student discount – Cheap car insurance for students is possible with Nationwide.
  • SmartRide® discount – SmartRide is a tracking tool we offer to reward safe driving. Here’s where rubber truly meets the road – plug the device into your car and it will track your driving habits, such as hard braking, speed and so forth. With a steady hand at the wheel, your low-risk driving can earn you lower insurance premiums.
  • Paperless discount – You’ll save money on stamps and avoid late fees if you sign up to have your Nationwide bill paid automatically at regular intervals from your checking or savings account. Some policyholders may even earn a recurring discount when they agree to receive documents electronically.

Start saving money today

Best Cheap Car Insurance

June 6, 2018 Car insurance No comments

Whether you’re buying only liability insurance or a full coverage car insurance policy, the thought of cheap car insurance is enticing. And there’s no better way to find the best deal than by shopping around and comparing quotes.

To help you find the cheapest car insurance, NerdWallet did a car insurance comparison of rates from the five largest auto insurers across the 12 most populous states in the country. Rates are for good drivers without accidents or tickets, with policies that include liability, collision and comprehensive coverage.

Best cheap car insurance by state

Overall rankings: Car insurance rates among the five largest companies

1. Geico

Geico NW

For the general population, Geico offers the cheapest car insurance quotes on average nationwide. NerdWallet found an average rate of $1,297 a year in our study.

Geico also provides a variety of easy-to-score discounts that can cut costs. Motorists who’ve gone five years without an accident qualify for the company’s good driver discount. There are also opportunities to save by insuring multiple vehicles, driving a car with air bags, always wearing seat belts and taking advantage of various other discounts.

2. State Farm

State Farm car insurance

State Farm ranks second for pricing among the four largest companies, but with an average quote of $2,296 per year, nearly $1,000 per year higher than Geico. The good news is drivers have ample opportunity to trim their costs, especially if they have a clean driving record. Among other savings opportunities, State Farm offers four separate discounts that deal with safe and accident-free driving.

State Farm is the nation’s leading car insurance provider in terms of market share, offering a vast array of insurance products and financial services in every state plus Washington, D.C.

3. Progressive

Progressive

Progressive returned an average quote of $2,821 per year, which comes out to $235 a month. That’s $525 a year higher than State Farm and more than double the cost of Geico.

Progressive may appeal to drivers looking for a paper- and agent-free experience. You can manage your policy entirely online. Starting a quote online and signing policy documents electronically are also two ways to qualify for discounts, along with things like bundling auto and home insurance and insuring multiple cars.

4. Allstate

Of the four largest insurers, Allstate had the highest average annual quote for good drivers at $3,182, or roughly $265 per month. Although ponying up that kind of cash is a lot to ask, the company has solid finances and relatively few complaints from policyholders. Allstate holds an A+ (Superior) financial strength rating from A.M. Best and has a customer complaint ratio of 0.77, better than the industry median of 1.00, according to data compiled by the National Association of Insurance Commissioners.

Among other discounts, Allstate offers price breaks for safe driving, including savings once you’ve gone accident- and violation-free for three years, and again for five years.

 

USAA: Best for those with military ties

Open only to active military members, veterans and their families.
You may already recognize USAA for its highly rated customer service. But the company has more to offer than a friendly bedside manner — it also notched the cheapest car insurance rates in our study, at $918 a year. USAA offers several discounts to help you save more, including for going more than five years with a clean record and for taking an approved defensive driving course.

USAA is open to active and retired military members and their families, and offers car insurance and other insurance products in all 50 states and Washington, D.C.

Check out smaller insurers, too

Finding cheap car insurance doesn’t mean you have to stick with large, national insurance companies. Regional and small insurers may beat the lowest offers from the big guys. For example:

Grange Mutual offered the lowest car insurance in Ohio at $701 a year.
Erie Insurance had a rate of $796 for Pennsylvania car insurance, second-lowest behind only USAA.
Tips for anyone to get cheap car insurance
No matter who your auto insurance company is, here are tips for saving on your policy:

Look for discounts — even ask for them. There could be discounts you’re not taking advantage of. For instance, maybe you now work from home and are driving less than when you bought your policy. Mention it and you might get a low-mileage discount.

Rethink your insurance limits and deductibles. Don’t strip away your coverage just for the sake of a lower price. But consider accepting a higher deductible on collision and comprehensive if it makes sense. Raising deductibles means you would owe more out of pocket if you had to file a comprehensive or collision claim. If you rarely drive or are financially comfortable with that risk, though, it’s a surefire way to get cheaper car insurance.

Cash in on major life changes. Certain life events could translate to cheaper car insurance. For instance, many companies offer a lower rate for married couples or domestic partners. Or perhaps you moved to a new city with stellar public transportation. If you’re commuting by train instead of car, your risk for accidents will go down — and your rates just might, too.