Have you heard of SR22 motorcycle insurance? If you own a motorcycle and need to buy SR22 insurance for license reinstatement, you may not be aware of this option.
In most states, your insurance provider can write an SR22 motorcycle insurance policy, as they do with an auto policy.
How much does SR22 motorcycle insurance cost?
Insuring a motorcycle is usually less expensive than insuring a car or truck. As with auto and standard motorcycle insurance, your rate/premium will depend on:
- The circumstances of your license suspension.
- Your driving record. If you have one or no prior motor vehicle violations on your driving record, your SR22 rate may be only slightly higher than it was. But if your record has more violations than that, it can increase your rate quite a bit.
- Age. Insurance and state statistics show that people younger than 25 and older than 65 merit higher motorcycle insurance premiums.
- Gender & Marital status.
- Your state. High-density urban areas have higher insurance premiums than less-populated areas.
- Credit history. Several states outright ban insurance companies from using credit scores to determine vehicle insurance rates. Otherwise, a person’s credit history is seen as a way to determine if they’ll make their insurance payments. Generally, if you have a low credit score, your insurance rate will be higher than average, and vice-versa.
- Type of bike. The age, type and model of your bike affects insurance cost. Expensive, high performance sport bikes and new models cost more to insure than older model or cruiser style bikes.
Needing SR22 motorcycle insurance due to DUI (or more serious offenses) will substantially raise your rate, regardless of the factors listed above.
As with SR22 auto and non-owner insurance, you’ll need to keep your policy current for three years.
How to save on SR22 motorcycle insurance
- Opting out of increased coverage (over the state-required minimum coverage) will keep your premiums more affordable. And raising your deductible will also help keep your payments lower.
- Since sport bikes are more costly to insure than cruisers, you might want to consider down-sizing to reduce your rate.
- It’s a good idea to do what you can to improve your credit rating.
FR44 insurance on motorcycles
Do you live in Virginia and need license reinstatement after a DUI/DWI conviction? We can help you with a Virginia FR44 motorcycle insurance filing.
Call us to discuss the option of SR22 motorcycle insurance for license reinstatement with an UltraCar Insurance agent. We’ll give you a no-obligation consultation, a free quote, and fast filing of your certificate with the state.
This article was last updated on April 5th, 2022 by UltraCar Insurance