UPDATED: Mar 22, 2022

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Written By: Chris TepedinoReviewed By: Jeffrey JohnsonUPDATED: Mar 22, 2022Fact Checked

The Full Review

  • 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: 

  • Medical payments (MedPay). Medical payments coverage pays for medical expenditures if you and your passenger are harmed in an accident, although it is not offered in all states. Medical payments coverage, unlike personal injury protection, does not cover lost income or other expenses.
  • Personal injury protection. This option provides medical payments for you, your passengers, or any pedestrians who are injured in a collision, regardless of who is at fault (state laws differ). Although some insurers provide PIP, some states may prohibit insurers from selling the coverage to motorcyclists due to their high accident rate.
  • Add-on options with limits and deductibles apply to some of them: 

  • Trip interruption coverage. This coverage pays for lodging, transportation, and food if your bike is disabled in a collision that occurs more than 100 miles from home, as defined by your policy.
  • Custom parts, equipment, and accessories coverage. In most states, comprehensive and collision insurance policies offer some custom parts and accessories coverage — often up to $3,000, though the amount may vary. For many riders, though, part of the appeal of owning a motorcycle is the ability to customize it.
    • 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.

    PosCons
    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.
    Get Your Rates Quote Now

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    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.

    ProsCons
    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.
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    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.

    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.

    Chris Tepedino is a feature writer that has written extensively about auto insurance for numerous websites. He has a college degree in communication from the University of Tennessee and has experience reporting, researching investigative pieces, and crafting detailed, data-driven features. His works have been featured on CB Blog Nation, Flow Words, Healing Law, WIBW Kansas, and Cinncinati....

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    Written by Chris Tepedino
    Insurance Feature Writer Chris Tepedino

    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...

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    Reviewed by Jeffrey Johnson
    Insurance Lawyer Jeffrey Johnson