Overview of Harley Davidson Motorcycles

It's undeniable—the allure of the Harley Davidson is what motorcycle dreams are made of, combining gutsy performance, enduring style, and that indescribable air of calm. Let's dig in a smidgen deeper, shall we?


History and popularity of Harley Davidson

Harley Davidson—or 'H-D' or 'Harley' for the friendly—has been stealing motorcyclist hearts since 1903. It's more than a motorcycle brand; it symbolizes freedom, rebellion, and American ingenuity. Fun fact: Harleys were darlings of the U.S. military during the World Wars. Looking at their popularity today, how did they stand the test of time?


Types of Harley Davidson motorcycles in the market

You're spoilt for choice when it comes to Harley Davidson models. There's the chuffing heavyweight Touring, the elegant and spirited Sportster, and the overbold and flashy Softail. Then you have the Street series—slim, agile, and urban-ready. Trust me; a Harley is waiting to match every personality out there.

The value proposition for owning a Harley-Davidson

Owning a Harley Davidson is like being part of an exclusive club. It's not just about the roaring engine or the thrilling speed; it's also about the incredible community and the legacy you own. Plus, these beauties have a reputation for holding their value very well—they're like fine wine, I tell you!

 

Key takeaways from Bankrate's 2023 car insurance rates analysis:

  • Full coverage car insurance costs an average of $2,014 per year, while minimum coverage is $622 per year. Full range averages $168 monthly, with minimum coverage averaging $52 per month.
  • Geico, Erie, and USAA offer some of the cheapest full-coverage car insurance but are only available to some drivers.
  • On average, auto owners, Geico, and USAA offer the most affordable minimum coverage car insurance among the companies we analyzed.
  • Although men tend to pay more for car insurance than women, this is not the case for 50-year-old drivers. 50-year-old women pay, on average, a few dollars more a year for full coverage car insurance than 50-year-old men.
  • Some vehicles experience higher average insurance premiums because of MSRPs, safety features, repair costs, parts availability, and other variable characteristics. For example, the average cost of full coverage insurance for
  • a Tesla Model 3 is 61 percent more than for a Subaru Outback.

How much does car insurance cost by state?

Car insurance costs around $2,014 per year for full coverage and $622 per year for minimum coverage. However, when determining "how much does car insurance cost" in a specific area, the answer can vary depending on various factors. The state where you live can influence accidents, claim reporting frequency, and even the cost of labor and parts, impacting insurance premiums.


Average car insurance cost by state in 2023

The average cost of car insurance varies between states for many reasons, and the coverage levels you choose play a significant role. Here, we cover the two most common coverage limits for a holistic view of average rates — full and minimum coverage. It is typical for drivers with leases or loans to have comprehensive and collision coverage, along with higher liability limits of 100/300/50, and for drivers of older cars to have liability-only limits at the state-required amounts.

Keep in mind that there are various degrees of coverage between these two options. Even if you are driving an older vehicle, liability coverage helps protect your financial future if you are found at fault for an accident. And insurance experts agree that carrying more liability coverage offers better financial protection. It's a good idea to speak with a licensed insurance agent to understand better the limits that will work best for you. 


How Much Is Car Insurance in Your State?

All states set their car insurance regulations and requirements. Factors like driving conditions also vary by state, which can impact the cost of car insurance.


Car Insurance Cost by State

We collected average car insurance costs from Quadrant Information Services to give you some idea of what drivers in each state pay for average annual premiums. Auto coverage costs vary by state due to various factors, including the frequency of accidents and claims. The cost of parts and labor can also lead to higher rates in one part of a state versus another.

 

The cost estimates in the table below include estimates for minimum-coverage and full-coverage car insurance for a 35-year-old driver with good credit and a clean driving record.

 

Car Insurance Cost by Age

Age is one of the most critical factors in setting car insurance rates. Teen drivers and those in their early 20s can pay thousands more per year than people with more experience behind the wheel. Young drivers are likelier to be involved in a car accident. Insurance companies charge higher premiums to help offset the risk of insuring these inexperienced motorists who tend to exhibit riskier behaviors behind the wheel.

 

Here's a look at average full-coverage auto insurance costs for various age groups:

 

Age                  Monthly Cost Estimate                 Annual Cost Estimate

 

  

   16                                 $632                                       $7,581

 

 

 

  17                                  $468                                       $5,612

 

 

 

  18                                  $413                                        $4,958

 

 

 *Rates for 17, 18, 19, 21, 65 and 75-year-olds taken from 2022 data.


Our Methodology

Because consumers rely on us to provide objective and accurate information, we created a comprehensive rating system to formulate our rankings of the best car insurance companies. We collected data on dozens of auto insurance providers to grade the companies on various ranking factors. The result was an overall rating for each provider, with the insurers that scored the most points topping the list.

Here are the factors our ratings take into account:

·       Cost: Auto insurance rate estimates generated by Quadrant Information Services and discount opportunities were considered.

·       Coverage: Companies that offer a variety of choices for insurance coverage are more likely to meet consumer needs.

·       Reputation and experience: Our research team considered market share, ratings from industry experts, and years in business when giving this score.

·       Availability: Auto insurance companies with greater state availability and few eligibility requirements scored highest in this category.

·       Customer experience: This score is based on the volume of complaints reported by the NAIC and customer satisfaction ratings reported by J.D. Power. We also considered the responsiveness, friendliness, and helpfulness of each insurance company's customer service team based on our own shopper analysis.