A Complete Guide to Cheap Motorcycle Insurance
This guide to cheap motorcycle insurance will go over everything you need to know about finding the right coverage for the right price. There are different coverage options to choose from and depending on factors such as credit score and your bike’s model, your insurance can be affected. GEICO and Progressive offer the best deals, but it’s always best to compare quotes.
UPDATED: Mar 22, 2022
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
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Jeffrey Johnson
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Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...
Insurance Lawyer
UPDATED: Mar 22, 2022
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Mar 22, 2022
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
UPDATED: Mar 22, 2022
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
- Liability insurance is required in most states for motorcycle owners, and different coverage options are offered
- Factors like your credit score and motorcycle make and model affect insurance rates
- Geico and Progressive offer the cheapest plans, depending on your situation
The cost of motorcycle insurance is determined by the model you want to insure as well as your particular circumstances. Continue reading to learn how you can save money on motorcycle insurance, depending on your situation and the most affordable coverage options.
Cheap Motorcycle Insurance
If you’re a motorcycle owner, you’ll want cheap motorcycle insurance, just as you would for a car. After all, insurance is necessary to protect yourself, your passengers, and your investment.
Motorcycle Insurance Requirements
Liability insurance for motorcycle owners is required in most states. If you cause an accident, liability coverage — which is typically always needed — compensates others for their injuries or damages. The minimum amount of liability insurance you need to acquire for your motorcycle is the same as the minimum requirements for vehicle insurance in your state.
Consider purchasing additional liability insurance above your state’s minimum requirements to protect your assets in the event of an accident. If someone sues you, your minimum liability limits may be insufficient to cover your legal fees and claims, and creditors may pursue part of your assets. Also, double-check with your insurance company to determine if your bodily injury liability insurance covers passengers — in some states, passenger liability coverage is required to protect them.
Uninsured/underinsured motorist coverage is also required in several states. This coverage pays for injuries sustained as a result of an accident caused by an uninsured or underinsured driver. Property damage may be covered under an uninsured/underinsured motorist policy, but some insurers may need you to purchase it separately.
Motorcycle Insurance Coverage Options
Motorcycle insurance coverage options are comparable to those available for automobile insurance. Most insurers provide the following coverage in addition to liability and uninsured/underinsured motorist coverage:
Add-on options with limits and deductibles apply to some of them:
- Transport trailer insurance. Many insurance providers cover trailers up to $7,500 in value.
What affects motorcycle insurance rates?
Insurance rates for motorcycles, like those for other road vehicles, are determined by a variety of factors.
The Type of Insurance Protection
Insurance covers anything from complete coverage to partial coverage, such as harm to yourself, your bike, or other people. Liability insurance is required in most states for both personal harm and property damage.
The Bike’s Model
Motorcycle insurance premiums are likely to be higher for newer models than for older models. The type of bike and engine displacement are also important considerations. Higher cc sport and racing bikes are more expensive to insure than the usual touring or commuting bike. Some insurance companies will give you a discount if your bike has factory-installed anti-lock brakes.
The Value of the Insurance
This applies to the worth of your bike as well as the coverage limit you select. The insured value of the bike is set by the insurance company, but the value of medical and liability coverage is determined by the insurance rates you elect to pay.
The Physical Condition of the Driver
One of the most important elements is age, with younger riders paying more than older ones. Riding experience is also a consideration. Some insurance companies specialize in providing motorbike insurance to beginning riders, while others do not.
Driving History
Violations have an impact on insurance costs, whether they occur while riding a bike or driving another vehicle. Some driving offenses, such as a DUI, involve the filing of an SR-22 or FR-44 certificate of financial responsibility on behalf of the rider. Furthermore, not all insurance firms cover bearers of such certificates.
History of Accidents and Claims
Some companies utilize an insurance score, which is similar to a credit score. The rider’s claims history and financial capacity determine this. Any accident or claim, regardless of the type of vehicle involved, raises insurance rates.
Credit Score
Credit scores are checked by many insurers, and a poor credit rating can have a negative impact on your rate.
Location
Because there is an increased potential danger of accident or theft in urban locations, rates are more likely to be higher. As a result of stricter insurance rules, rates in certain states are higher as well. Insurers consider your ability to protect your bike, such as whether you have a garage in which to house it.
Deductibles
A cheaper rate is obtained by selecting a greater deductible because the insurer will pay less in the event of a claim.
Motorcycle Insurance Discounts
Discounts differ depending on the insurance carrier. Here are some of the most typical discount methods:
- Purchase a different form of policy from the same company, such as vehicle or homeowners insurance.
- Maintain a spotless driving record.
- Use the same insurance carrier to insure multiple motorcycles.
- Obtain a motorcycle rider’s license by completing a motorcycle rider’s training course.
- Become a member of a motorcycle club.
- If you’re over 55 or a frequent rider, inquire about a mature rider discount.
Cheapest Motorcycle Insurance Providers
It’s always a good idea to compare motorcycle insurance quotes when seeking the best plan that matches your needs.
Geico Motorcycle Insurance
Geico offers the cheapest motorcycle insurance rates in the business with an average yearly policy of approximately $530, significantly less than the national average of $700. In fact, in the five states with the most registered motorcycles, this company has the lowest rate.
Pos | Cons |
---|---|
In most states, it is up to 25% less expensive than the average insurance rate. | Because it’s commonly done through third-party companies, bundling can be a pain. |
Customer satisfaction accolades abound, and the company has an AA+ financial grade. |
Progressive Motorcycle Insurance
Progressive offers the most affordable full coverage motorcycle insurance. A full coverage Progressive policy costs roughly $825 a year, which is significantly less than other companies’ full coverage rates. If you’re a current or former member of the U.S. military, it’s worth keeping in mind that USAA motorcycle insurance is available through Progressive, so you can still keep all of your policies in one place.
Pros | Cons |
---|---|
Unparalleled policy coverage, including OEM components and replacement cost coverage. | Customer satisfaction is on the rise, according to J.D. Power, and the BBB has given it a B- rating. |
Riders who purchase comprehensive and collision coverage are also eligible for up to $3,000 in custom parts protection. | Increased liability coverage, for example, can be costly. |
Simple discounts, such as making electronic payments and paying on time, are available. |
The Takeaway
When seeking cheap motorcycle insurance, it’s best to compare various motorcycle insurance quotes. Depending on your motorcycle make, model, and your personal circumstances, you can find the coverage that’s right for you.
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Jeffrey Johnson
Insurance Lawyer
Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...
Insurance Lawyer
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.