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How Much is Motorcycle Insurance in Oklahoma?

Published in Motorcycle Insurance Costs 3 mins read

The average cost of motorcycle insurance in Oklahoma is approximately $37 per month, which translates to $444 per year. This average provides a general idea of what you might expect to pay for coverage in the state.

Here's a quick overview of the average costs:

Coverage Period Average Cost
Per Month $37
Per Year $444

It's important to understand that this is an average, and the actual price you pay can vary significantly based on numerous factors. Insurance providers calculate premiums individually, taking into account a range of personal details and specific circumstances.

Key Factors Affecting Your Premium

Motorcycle insurance costs are not one-size-fits-all. Several variables influence how much you'll pay:

  • Rider Profile:
    • Age and Experience: Younger, less experienced riders often face higher premiums due to perceived higher risk. More experienced riders with a long history of safe riding may qualify for lower rates.
    • Driving Record: A clean driving record without accidents or traffic violations is crucial for securing the best rates. Incidents can significantly increase your premium.
  • Motorcycle Type:
    • Make and Model: Sport bikes, high-performance motorcycles, and expensive models generally cost more to insure due to their higher repair costs, theft rates, and potential for speed. Cruisers or touring bikes might be cheaper.
    • Engine Size: Larger engine displacements typically lead to higher insurance costs.
    • Age of Motorcycle: Newer bikes might cost more to insure for collision and comprehensive coverage due to their higher replacement value.
  • Coverage Choices:
    • Liability Limits: The minimum required by Oklahoma law for bodily injury and property damage is a baseline. Opting for higher liability limits offers more protection but also increases your premium.
    • Additional Coverages: Adding comprehensive, collision, uninsured/underinsured motorist, roadside assistance, or custom parts coverage will increase your overall cost.
    • Deductibles: Choosing a higher deductible for comprehensive and collision coverage can lower your premium, but you'll pay more out-of-pocket if you file a claim.
  • Location within Oklahoma: Premiums can vary based on your specific zip code. Areas with higher theft rates, more traffic, or a greater incidence of accidents may have higher insurance costs.
  • Storage and Security: Where you park your motorcycle (e.g., a locked garage vs. street parking) and any anti-theft devices you have installed can influence your rate.

Ways to Reduce Your Motorcycle Insurance Premium

While the average cost provides a benchmark, there are several strategies to potentially lower your individual premium:

  • Take a Motorcycle Safety Course: Completing an approved motorcycle safety course can often qualify you for a discount.
  • Maintain a Clean Driving Record: Avoiding accidents and traffic violations is one of the most effective ways to keep your rates low.
  • Bundle Policies: Many insurance providers offer discounts if you bundle your motorcycle insurance with other policies, such as auto or home insurance.
  • Inquire About Discounts: Ask your insurer about available discounts, which might include:
    • Good rider/safe driver discount
    • Multi-bike discount
    • Anti-theft device discount
    • Loyalty discount
    • Seasonal riders discount
  • Choose a Higher Deductible: If you're comfortable paying more out-of-pocket for a claim, a higher deductible will reduce your monthly or annual premium.
  • Consider Your Motorcycle Choice: If you're buying a new bike, researching insurance costs for different models beforehand can help you make a more budget-friendly decision.