When you get a motorcycle, you’ll need to insure it. As a driver, your state will likely require you to carry coverage. Still, the motorcycle insurance market varies. Different factors will influence the costs of your policy. Among these are your policy limits and deductibles. How much can you expect to pay for your policy? How can you manipulate policy stipulations to improve policy costs?Why Insurance Prices VaryYou are a unique driver. Your motorcycle is a unique piece of machinery. Together, you both create a risk profile to your insurance company. This will differ from that of almost every other driver.Your risk profile is one of the determinants of how much you will pay for your bike insurance. It’s essentially a measure of how likely you are to file a claim for compensation on your policy. Thus, if a higher likelihood of a claim exists, your insurer might have to raise your policy prices.Some of the factors that might impact the cost of your motorcycle policy include:The make and model of your bikeYour bike’s valueWhere you liveYour driving record, including previous infractionsHow often you driveAccident and claims history on previous policiesThe policy you chooseCredit scoresThese and other factors will influence how much you pay for your coverage.How Much Can You Expect to Pay for CoverageThe average price of a motorcycle insurance policy in the U.S. is around $519 per year. Some states will have lower or higher average prices based on location. Certain factors can help you expect if your policy price will fall on the higher or lower end of that spectrum.Your bike’s value will always influence your policy costs. If you have a standard touring bike, it will likely have a lower value than a high-speed or racing bike. Therefore, the value of the former’s policy might be less than the value of the latter. Given the value of your bike, you’ll need to choose policy limits that will protect it appropriately.Thus, the limits and deductibles on your coverage will have a direct impact on your policy costs. These factors impact how much money you can expect to receive in the event of a claim. If you want your policy to potentially provide more money, you can expect to pay more for your coverage.Remember, multiple other factors might influence your policy costs. Therefore, just because you have an invaluable bike or lower policy limits, that doesn’t guarantee you’ll pay less for coverage.Still, you can manipulate your coverage limits within your policy itself. Talk to your agent about how you can adjust your limits for more satisfactory protection. It might prove very reliable should you face an accident.Changing Your Coverage and DeductiblesThough you will pay more to have higher insurance limits, you might find a financial benefit in the end. If you can get more money from a policy claim, your personal savings are less likely to suffer as a result.Talk to your insurance agent about the benefits of getting more coverage.You’ll likely have to carry minimum levels of liability insurance. It can help you pay for the damage you might cause others in a wreck that is your fault. While the smallest limits might prove comfortable, they might not prove adequate. If you have higher coverage, you’ll have a better likelihood of covering a liability claim in full.Add collision or comprehensive coverage to your policy. It can pay for physical damage to your bike. The collision protection will pay for wreck damage. Comprehensive coverage will pay for damage from accidents like weather or theft. Most policies will pay either for the replacement cost of the bike or the bike’s cash value at the time of the accident. Cash value coverage is less expensive, usually. Yet, it might only pay you the depreciated value of a bike following a totaling.Consider purchasing gap coverage when you buy a new bike. It pays the difference between a bike’s value and the value of an existing vehicle loan.On some elements of coverage, you might have a policy deductible. You’ll pay the cost of a deductible before your insurer covers the rest of a claim cost. Usually, it’s around $500 to $1,000 or more. You can often use a deductible to your cost advantage. If you carry a higher deductible, you’ll take some of the cost risk away from the insurer. Therefore, they’ll often reward you with lower policy costs. That might help offset some of the price increases from higher coverage.With attention to detail, you can make your motorcycle insurance costs more affordable. Often, based on the coverage you select, you’ll see your costs change. Even so, don’t sacrifice coverage for more affordable costs. Contact your Georgia motorcycle insurance agent about the best way to balance your policy costs with savings.