Cost and price of motorcycle insurance

How much does motorcycle insurance cost and which insurers are the cheapest?

More than 5,000 euros to insure his 650 A2 motorcycle in all risks! Why ?

Are you looking for the best price for your motorcycle insurance? The cost of the motorcycle insurance premium varies according to multiple criteria and you can get the best motorcycle insurance prices by comparing quotes offered by insurers. But how is the price of insurance calculated and what to do to find the cheapest insurance? Detailed guide, explanations and advice.

Cost and price of motorcycle insurance premiums (c) photo: breakingpic

As a reminder, motorcycle insurance is compulsory, whether to ride on the road or on the circuit, or even if your motorcycle is immobilized in your garage.

What is an insurer?

An insurer is a company or organization that covers the risks of its customers in exchange for the payment of a premium. And under the generic term of insurer, there are in fact three types of companies and organizations:

  • the insurance companies (Groupama, GMF, Axa, etc.) governed by the Insurance Code,
  • the mutual (Macif, MAIF) governed by the Mutuality Code,
  • the provident institutions (Ag2r, Malakoff, etc.) governed by the Social Security Code.

There are 740 insurers in France and not all of them provide motorcycle and scooter insurance.

And the brokers so ? Insurance brokers (AMV, April Moto, FMA, Solly Azar…) and general insurance agents or even insurance representatives are part of the insurance world but they are above all intermediaries, between insurers and policyholders.

How is the price of motorcycle insurance calculated?

The price of motorcycle insurance is established according to many criteria. These criteria include both calculations of probability and statistics (loss rate, level of risk) but also elements imposed by the legislation (article 2 of article A121-1 of the Insurance Code) without forgetting the specific elements of the insurer linked not only to its objectives but also to the expenses represented by the compensation of the claims of its policyholders, without forgetting the taxes, fiscal contributions and other participation in the Guarantee Fund (FGAO).

The cost of insurance is therefore a function of the criteria mentioned above but also of three main elements which are decisive, from the motorcycle, the level of guarantees and the driver. This explains the differences of several hundred euros between two insurance premiums.

The motorcycle: type, brand, model, cubic capacity, vintage

Motorcycles are classified into categories, some categories involving more risks and having more accidents, insurance premiums are higher. And inevitably, the more expensive a motorcycle is to buy, the more it will cost the insurer in the event of a fall, accident or theft. Sports cars are thus the unloved of insurers with higher costs.

A larger engine capacity is linked to a higher price for the new motorcycle and will cost more in repairs as well. The amount of the insurance premium is thus also linked to the cylinder capacity.

The brand, the model and its age finally modulate the price of the insurance. A new motorcycle costs more to insure than a motorcycle that is ten years old and whose rating has declined.

The level of guarantees

Only civil liability – also called the third party – is mandatory. In other words, if you cause damage to someone, you will be covered for this damage and the costs that go with it. But neither you nor your motorcycle will be covered.

There are thus several additional guarantees, extended third party, theft/fire, all risks, which will cover more potential risks until the fall that you make on your own. The greater the coverage and guarantees, the higher the cost of insurance will increase.

Note that alongside the guarantees there is always a level of deductible, ie an amount that remains your responsibility in the event of a problem. The lower this deductible, the higher the price of the insurance.

And then there are the optional guarantees, such as assistance, or equipment. Assistance in the event of a problem but also the fact of repatriating the motorcycle to the usual garage and not just anywhere. And for the equipment (jacket, helmet but also top-case or accessories), the value that is taken into account and for how long. Some insurers insure at the price of new for three years and others apply a significant discount after one year, not to mention that each insurer does not include all the equipment but only the mandatory ones.

You, the driver: use, experience, parking location…

The price of the insurance finally varies according to the driver (the pilot), his age, his experience (number of years of license), his geographical area (city or even district where he lives with the place of parking) , the use of his motorcycle (leisure, professional, or even a mix with in particular the home-work journey) and the fact that the motorcycle sleeps in a closed garage or outside.

This is where the reduction/increase coefficient (bonus/malus) also comes into play, linked to the number of years of insurance with a particular motorcycle. A driver who has had no accident for 10 years will pay less than a young driver with no experience who has never been insured (or than a driver who has had an accident, even if not at fault, in the last two years).

Finally, there are still a few characteristics such as marital status (single, married, etc.), or even the number of children, which will have a marginal influence on the amount of the premium.

Advice: find the insurance corresponding to your use

We often look for the cheapest insurance. But it is a mistake. Because what is the use of cheap insurance, but which will not defend you in the event of an accident, or which will not reimburse you easily or after many months. Not all insurance companies work the same way, with the same service and the same level of intervention. And even reading all the clauses and fine lines is not enough.

Proper use and the guarantees that go with it

Above all, you have to find insurance with a contract that corresponds to your use and with the right guarantees that go with it. Do you only ride for two months a year for rides or do you use your motorcycle every day to get to work?

You really have to take into account your use and the level of guarantees (including or not assistance), without forgetting the deductibles that go with it. This will give you the level of protection offered by your insurance contract. It is indeed necessary to find a motorcycle insurance for your use, not expensive, but offering the best possible level of protection for the price, including for yourself (the guarantee of the pilot is not always included) or your equipment. We invite you to read the articles on all the points to be taken into account through the articles dedicated to possible guarantees, deductibles and compensation ceilings (especially in the event of a bodily injury).

Do not omit anything

And we absolutely advise you against lying or even “inadvertently” omitting a single point of information requested (use, experience, accident…). One lie or omission and the insurer may refuse to cover you afterwards, even if you have paid your premium. You will then be considered uninsured, with the risk of paying all your life for the damage caused by an accident.

Insurance comparators can help you get a first idea of ​​the price of your insurance for your motorcycle, depending on several levels of guarantees. They facilitate research because you only enter all your information once and then you have several quotes at the same time. But the comparators do not question all the insurance companies on the market, but only partner insurers. And there are also sometimes surprises by asking a comparator (which is paid) and the quote online on the insurer’s website. It is therefore worth getting several quotes from several recognized insurers on the motorcycle insurance market.

Price examples

The price of insurance for a motorcycle can range from 100 euros per year to a third party up to more than 5,000 euros per year in all risks!

Some insurance companies even refuse to insure certain so-called “at-risk” profiles or indicate a dissuasive rate. The typical example is the young 18-year-old driver who lives in Paris and has bought a large engine motorbike. The simple fact of being able to be insured is going to be complicated. Conversely, a quadra without accident for 10 years who lives in the provinces and has an old 600 cm3 can pay less than 100 euros per year for his motorcycle.

With the same type of motorcycle and driver profile, the amount of insurance can go from simple to double.

As an example, I used a recently known comparator which searched among its 78 partner insurersfor a civil liability rate only (one-third, or the minimum) for a young 20-year-old driver living in Paris who has had his license for two months and has never been insured.

For a Kawasaki Z900 A2, an insurer offered an estimate of 2,287 euros plus administration fees! For this same profile, still at a third, the insurance premium for a Honda CB 650 R A2 is 2,034 euros. And if we go at all risks, for this Honda CB 650 R, the premium even goes to 5,069 euros!

Alongside the young licenses, the motorcyclist has aged a lot in France and there are therefore more and more profiles of motorcyclists with a lot of experience and little or no accident which means that the average of contracts and premiums in France is fortunately far from these exorbitant prices.

As an indication, here are the average prices observed in France for 125 cm and more than 125 cm3, this average hiding strong disparities possible naturally.

Prices 125 cm3 (average France)

  • Simple third-party formula (RC/DR): €320
  • Third Party + Theft + Fire formula: €420
  • All Risks Formula: €520

Rates >125 c3 (average France)

  • Simple third-party formula (RC/DR): €340
  • Third Party + Theft + Fire formula: €550
  • All Risks Formula: €840

The cheapest insurers on the market

It depends on your profile. Some insurers are well placed in prices for a type of vehicle or driver, but conversely are poorly placed for others. Others have interesting formulas, not presented via comparators, but are poorly placed for third-party insurance. It is therefore not possible to answer the question about the name of the cheapest insurer on the market. On the other hand, it is possible to indicate which insurers/brokers insure the most motorcyclists.

We are talking here about Macif, Mutuelle des Motards, AMV, April Moto, Axa Club 14, FMA for adults, without forgetting the insurance of manufacturers, or some more modest ones like Solly Azar (non-exhaustive list). But as a motorcycle manufacturer is never an insurer, under the name of an insurance “name of the manufacturer” there is always a known insurer. So behind Kawasaki Insurance, KTM Insurance, Suzuki Insurance, Triumph Insurance and Yamaha Insurance, it is actually AMV. Behind BMW, Honda, or Harley Assurance, it is actually FMA. Behind Indian is Progressive American insurance.

And beyond these known names, there are nevertheless certain insurers and mutual insurance companies which insure more two-wheelers in the broad sense (including 50 cm3 type displacements) with in descending order of importance Generali, Covéa, Allianz, Maif , Groupama, Mutual Credit, Matmut, Aviva…

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