Yamaha MT-03 Insurance

The Yamaha MT-03 became available stateside after a successful run in Europe, where this lightweight naked bike received rave reviews for its style, performance, price, and smiles-per-mile ratio. It uses the 321cc parallel twin from the Yamaha R3, albeit re-tuned for better streetability and torque, putting down 37 rear-wheel horsepower on the dyno at Cycle World, whose testers were well-impressed with the pint-size MT:

“This hellhound pup makes the other Masters of Torque proud.” —Cycle World

While the MT-03 shouldn’t be nearly as expensive to insure as larger “Masters of Torque” like the MT-07 and MT-10, some insurers may still categorize the bike as a “performance bike” or “super sport” — translating to high insurance rates. The only real way to find the coverage you need at the best possible rates is to shop around, comparing options and prices from different companies. Fortunately, we can help. Enter your zip code above to begin.

Yamaha MT-03 Insurance Rates

There so many factors that help determine your premiums: age, gender, location, riding history, coverage options, even credit score and marital status. For that reason, it’s difficult to predict what your rates will be or compare them to other riders. That said, we have data from some real-world R3 riders — the MT-03 should be less expensive:

• Male, 22, CA, Full Coverage:  $684 / year
• Male, 30s, PA, Full Coverage:  $350 / year
• Male, 30s, NJ, Full Coverage: $600 / year

And here’s some data from the KTM Duke 390, which has only slighter more power and displacement:

• Female, 34, WA, Full Coverage:  $358 / year
• Male, 44, MI, Full Coverage: $344 / year (Geico, Allstate, State Farm all quoted $500+.)
• Male, 59, CA, Basic Coverage: $250 / year

Hopefully, these will give you some idea of what you might expect to pay. And, as you can see, shopping around helped at least one of these riders save over $150 a year. That’s why it’s crucial to compare quotes from competing insurers. Fortunately, we can help!

Yamaha MT-03: History / Specifications

The MT-03 had a successful three-year run in Europe before being brought to US shores as a 2020 model. It uses the same 321cc liquid-cooled parallel twin as the YZF-R3 super sport, though the engine has been tuned for low-end power and better torque — MT stands for “Master of Torque,” after all!

The bike has a 54.3-inch wheelbase, 30.7-inch seat height, and 371-lb curb weight, making it agile and easy to maneuver even for new riders, but the MT-03 is not just for teenage riders or beginners. Many experienced riders have been impressed both by the small-bore’s styling and performance:

“Yamaha repeatedly pointed out that the MT-03 was designed to look and feel like a ‘big bike,’ but the bike speaks for itself. Its stance is immediately noticeable, even when parked.” —Revzilla

With a starting price of less than $4600 and ABS as standard, it’s a lot of bike — and fun — for the money.

Yamaha MT-03 Coverage Options

Most states only require what’s known as “Basic Coverage” — liability coverage that meets the state’s minimums. While this is the most affordable option, we recommend carrying “Full Coverage” — which includes collision, comprehensive, and uninsured motorist coverage. These will protect your bike in the event of an accident, theft, vandalism, acts of God, and drivers that don’t have insurance — more than 10% of motorists, nationwide.

What’s more, Basic Coverage is only an option if you own your MT-03 outright. If it’s financed through the dealership or bank, the lender will require you to carry Full Coverage. They don’t, however, get to tell you what insurer to use. You’re free to find the cheapest Full Coverage available, and we can help you do just that.

Discounts, Discounts, Discounts…

While there’s no silver bullet other than comparison-shopping your coverage, there are some significant discounts for which you might qualify.

MSF Course: A weekend Motorcycle Safety Foundation course can help even experienced riders hone their skills, and most insurers give a discount of 15% upon proof of graduation. Visit the MSF website to find a course near you.

Good Student Discount: Most companies offer a discount in the neighborhood of 10% if you’re a student and maintain a GPA of 3.0+ (B average).

Clean Riding History: The most logical way to keep your premiums low. There’s nothing that spikes your premiums like a speeding ticket or DUI. What’s more, many insurers now offer a “Good Driver Discount” of some kind to reward policyholders who maintain a clean driving/riding record.

Compare Rates:  The is the single best way to keep your rates in check. That’s why we make it easy to request and compare quotes from multiple companies.