How Much Is Motorcycle Insurance?Average Motorcycle Insurance Cost in 2022
The average cost of motorcycle insurance depends on a wide range of factors, including where you live. However, a recent study from ValuePenguin showed that riders paid an average of $702 for a full year of motorcycle insurance.
If you’re in the market for motorcycle insurance, it’s smart to learn about the different factors that might affect your rates, the top companies offering coverage in this space and steps you can take to save on premiums.
Learn more about motorcycle insurance in general while comparing the top motorcycle insurance coverage options out there.
Motorcycle Laws and Insurance Requirements
According to data from the Insurance Institute for Highway Safety, universal helmet laws implemented by individual states tend to be incredibly helpful — and keep premiums down. Currently, 18 states have universal helmet laws and 29 more have laws that require helmets for some riders.
As you compare motorcycle insurance premiums, be aware that the state you live in likely has minimum coverage requirements. The Insurance Information Institute reports that most states only require liability coverage, which means other types of coverage might be entirely optional. You might also be required to purchase a certain level of liability coverage depending on where you live.
In the state of North Dakota, for example, you’re required to purchase a minimum of $25,000 in liability coverage for bodily injury, $25,000 in coverage for property damage liability, $25,000 per person and $50,000 per accident in coverage for uninsured motorists. Coverage requirements are $25,000 per person and $50,000 per accident for underinsured motorists.
What Factors Affect Motorcycle Insurance Rates?
A whole host of factors can impact your motorcycle insurance premiums, some of them beyond your control. For example, some states have higher average premiums than others due to demographics, minimum coverage options and other factors.
California motorcycle owners pay an average of $1,360 for one year of insurance, according to the ValuePenguin study, yet average premiums in North Dakota are only $382. That’s a huge discrepancy, yet there are plenty of factors that explain why motorcycle insurance might cost more or less depending on where you live.
According to Progressive Insurance, one major factor in colder states like North Dakota is their shortened riding season due to weather. With the cold weather in northern states, riders may only be able to hit the open road a few months a year. Typically, that means fewer accidents and insurance claims.
Other factors that can impact motorcycle insurance rates include:
- The type of motorcycle you have
- Your age and riding experience
- Motorcycle usage
- Accident and claims history
- Your credit score
- Types of coverage you buy, including whether you add comprehensive and collision coverage on top of liability
- Your chosen deductible
Motorcycle Insurance Coverage Options
Like auto insurance, motorcycle insurance comes with standard coverage options you can select from. As you search for a policy, here are the main types of coverage:
- Liability coverage is for damages and injuries you cause (the only required coverage in many states). Comprehensive coverage kicks in to protect against damages to your motorcycle from events out of your control (i.e., theft, vandalism or inclement weather).
- Collision coverage protects you when your motorcycle collides with another vehicle regardless of which party is at fault.
- Uninsured and underinsured motorist coverage provides protection where you’re in an accident with another driver who has inadequate insurance coverage.
- Medical payments coverage helps cover medical bills for you and passengers, regardless of fault.
These are the main types of motorcycle insurance coverage, but you might also be able to tailor your coverage with add-ons. For example, you may qualify for reimbursement of lost wages if you’re hurt in an accident or for roadside assistance or total loss coverage. You’ll want to compare motorcycle insurance policies with a wide range of issuers so you know which coverages you can qualify for and how much they cost.
What Are the Best Motorcycle Insurance Companies of 2022?
The best motorcycle insurance companies are ones with excellent third-party rankings, exceptional coverage options and affordable premiums. Here’s our list of the top motorcycle companies for 2022:
- Best For Comprehensive Coverage: Progressive
- Best For Discounts Available: Allstate
- Best For Flexible Payment Options: GEICO
- Best For Harley-Davidson Owners: Harley-Davidson
- Best For User Experience: Dairyland
- Best For Premium Roadside Assistance: Markel
Best Motorcycle Insurance Company Comparison
Best For Comprehensive Coverage: Progressive
Founded in 1937, Progressive Insurance has a long history of offering high-quality insurance products for your home, your car, your motorcycle and more. It makes it easy to get a free online quote for motorcycle insurance just by offering some basic information. The insurer offers liability coverage with limits you can tailor to your needs, plus comprehensive and collision coverage options.
Coverage that automatically come in your policy includes full replacement cost and no depreciation for parts, $3,000 in coverage for accessories and custom motorcycle parts, and coverage for original equipment manufacturer parts.
Coverage Benefits and Add-On Options: Progressive makes it possible to purchase coverage for personal belongings you have on your bike and total loss coverage for a brand-new bike.
Discounts: Online quote discount, multipolicy discount, association membership discounts, safety course discounts, responsible driver discounts, pay-in-full discounts, discounts for paying premiums on time, automatic bill-pay discounts and more are available.
Drawbacks: Progressive has plenty of user complaints about poor customer service, as well as disappointing reimbursement levels.
- J.D. Power Rating: 856 out of 1,000 in J.D. Power’s 2020 U.S. Auto Claims Satisfaction Study
- Customer Satisfaction Rating: 1.5 out of 5 stars on Trustpilot
- Financial Strength Rating: A+ from AM Best
Best For Discounts Available: Allstate
Founded in 1931, Allstate has been offering quality insurance coverage and financial products to Americans for nearly a century. This company has a helpful mobile app, robust information about its coverage options online and an online claims process.
Allstate tends to perform well in terms of its customer service and claims satisfaction, and offers an array of coverage options for motorcycles that might suit your needs and goals. Allstate lets you tailor your motorcycle insurance deductible and coverage limits to your budget, but your policy automatically comes with up to $1,000 in coverage for upgrades such as custom seats, crash bars and fairings.
Coverage Benefits and Add-On Options: In addition to liability, collision and comprehensive coverage for your motorcycle, Allstate offers optional benefits such as towing and labor coverage, rental reimbursement coverage, loan gap coverage and more.
Discounts: Discounts are available for multiple policies, being a good rider, transferring your policy, setting up automatic payments, full payment for one year of premiums, taking a safety course and more.
Drawbacks: You can’t get a quote for motorcycle insurance without speaking with an Allstate agent.
- J.D. Power Rating: 876
- Customer Satisfaction Rating: 1.5 stars
- Financial Strength Rating: A+
Best For Flexible Payment Options: GEICO
GEICO was founded in 1936 as the Government Employees Insurance Co., which was originally targeted to government employees. However, the company has grown by leaps and bounds since then. It now offers quality insurance products for families, including homeowners insurance, car insurance and motorcycle insurance.
GEICO says you can save 15% or more on motorcycle insurance premiums if you get a free quote. The basic coverage options it offers include bodily injury liability coverage, collision coverage, comprehensive coverage, property damage coverage and uninsured/underinsured motorist coverage.
GEICO also offers unique payment plans that let you pay a year of premiums all at once, pay on a monthly basis or cover your motorcycle insurance premiums every four, six or nine months.
Coverage Benefits and Add-On Options: GEICO lets you add on additional coverage for accessories you might have for your bike, as well as separate helmet coverage and emergency roadside assistance.
Discounts: Get discounts for switching policies, having multiple policies, being a mature rider, taking a safety course, renewing your policy and more.
Drawbacks: GEICO offers access to a limited network of local agents, so you’ll mostly deal with the company online, over the phone or with the GEICO mobile app.
- J.D. Power Rating: See 871
- Customer Satisfaction Rating: 1.6 stars
- Financial Strength Rating: A++
Best For Harley-Davidson Owners: Harley-Davidson
Harley-Davidson is known for offering some of the most popular motorcycles available today. The company also sells motorcycle insurance policies, which are underwritten by Sentry Insurance Group.
You can get a free quote online and purchase all of the main coverage options you would expect from major insurance companies. Harley-Davidson doesn’t just offer motorcycle insurance for its own brand of bikes, it also offers insurance for scooters and mopeds, sportbikes and more.
When you select a policy from Harley-Davidson, its full-coverage protection includes bodily injury liability coverage, coverage for property damage, uninsured motorist insurance and personal injury protection coverage. The company offers state minimum coverage depending on where you live, but you can also beef up your policy with higher coverage limits, more types of protection and special add-on coverage.
Coverage Benefits and Add-On Options: Coverage options include insurance for special equipment you have, rental reimbursement coverage, vacation rental insurance and more.
Discounts: Discounts are available for having a new bike, being a member of the Harley Owners Group, being an experienced rider, owning a home, being claims-free, paying on time, customer loyalty, having multiple policies, having an antitheft device, being a military or law enforcement member, and more.
Drawbacks: Harley-Davidson motorcycle insurance offers some discounts and member benefits that are geared specifically to Harley motorcycle owners. Since this company is not underwritten by a major insurance provider in the auto insurance space, you’ll find less information about it in terms of its customer service satisfaction and claims process.
- J.D. Power Rating: Not rated
- Customer Satisfaction Rating: Not rated
- Financial Strength Rating: A+
Best For User Experience: Dairyland
Dairyland has been offering motorcycle insurance and other products since 1966, so this provider hasn’t been around as long as some of the others on our list. However, it makes getting an online quote easy, and you might be able to work with an agent in your area. The company also offers auto insurance, so it’s possible to bundle your Dairyland motorcycle insurance coverage with your auto insurance policy.
In terms of offerings, Dairyland has coverage for bodily injury, collision, comprehensive, medical expenses and protection against personal injury. You can also get coverage for property damage, rental reimbursement, replacement cost, roadside assistance and uninsured/underinsured motorists.
Coverage Benefits and Add-On Options: Dairyland is known for its optional coverage for the equipment you might have for your bike, which might include special modifications, custom parts and more.
Discounts: Discounts are available for having multiple policies, homeownership, being a member of the Harley Owners Group, taking a safety course and transferring your policy.
Drawbacks: Unlike some other providers, Dairyland doesn’t offer a way to begin the claims process online.
- J.D. Power Rating: Not rated
- Customer Satisfaction Rating: 4.4 stars
- Financial Strength Rating: A+
Best For Premium Roadside Assistance: Markel
Markel Insurance may not be a household name, but this company was founded in 1930. Since then, it has grown and expanded into many different sectors of the insurance industry, including specialty coverage options for motorcycles.
Currently, Markel makes it possible to buy insurance for almost any kind of bike you have, including street bikes, cruisers and custom motorcycles.
Markel offers the basic motorcycle insurance options you would expect, such as collision coverage, comprehensive coverage, accessory coverage, uninsured/underinsured motorist coverage, funeral expense coverage, medical payments coverage, liability protection and more. You can get started on a free quote online or call its customer service department to get help building your policy.
As an added bonus, Markel offers a diminishing deductible benefit. Your deductible drops by 25% each year you’re accident-free. After four years, your deductible goes down to $0.
Coverage Benefits and Add-On Options: For $25 to $50 per year, Markel also offers a specialty roadside assistance package that comes with 24-hour emergency roadside assistance, emergency delivery of supplies, tire and battery service, trip interruption coverage, customized road mapping and locksmith protection. You can also buy additional coverage for rental reimbursement when your bike isn’t in working condition for 24 hours or longer.
Discounts: Discounts are available for antilock brakes, antitheft alarms, multiple policies, renewing your policy, being a safe driver, taking a safety course and transferring your policy.
Drawbacks:
- J.D. Power Rating: Not rated
- Customer Satisfaction Rating: Not rated
- Financial Strength Rating: A
How We Chose the Best Motorcycle Insurance Companies
We started our search for the best motorcycle insurance companies by looking at ratings for financial strength. Our ranking only includes companies with an A rating or better from AM Best, a third-party rating agency that scrutinizes companies based on their financial stability and other factors.
We also looked for motorcycle insurance companies with good customer service ratings, mostly good user reviews and solid ratings for their claims process. Companies with exceptional add-on coverage options were also given preference in our ranking.
How Does Motorcycle Insurance Work?
Motorcycle insurance works similarly to auto insurance. You start by purchasing a policy with the coverage options and limits you prefer, and you agree to pay a monthly or annual premium in return for this protection.
If you’re in an accident or have damage to report, you file a claim with your motorcycle insurance company and pay your agreed-upon deductible. From there, the motorcycle insurance company will begin investigating your claim and pay related bills and expenses based on its findings.
What You Need to Submit a Motorcycle Insurance Claim
Before you file a claim with your motorcycle insurance company, you’ll need to gather some basic information. Details you’ll need to share include your personal information, your policy number, details of the accident including injuries and damage, police reports that were filed and any medical bills relating to the accident so far.
What Happens if You Ride Without Motorcycle Insurance?
If you drive a motorcycle without insurance, you might be subject to fines, tickets and court appearances. You can also lose your license or have your license suspended. If you’re in an accident and don’t have motorcycle insurance, you can be held financially responsible for damages and medical expenses caused to you and others.
Motorcycle Insurance FAQs
Which Company Has the Cheapest Motorcycle Insurance?
The cost of motorcycle insurance depends on the state you live in, your driving history, the type of coverage you want, the bike you have and other factors. With that in mind, different customers may pay higher or lower rates with the same company.
How Much Does It Cost to Get Insurance on a Motorcycle?
Nationwide, the average cost of one year of motorcycle insurance works out to approximately $702. However, rates for motorcycle insurance vary widely depending on the state you live in.
What Is the Best Motorcycle Insurance Company?
The best motorcycle insurance company depends on the type of coverage you want, where you live and other factors. Make sure to compare providers on our list in terms of their pricing, coverage limits, deductible amounts and more before you purchase a plan.
Final Thoughts
Motorcycle insurance is a highly specialized product, and your premiums depend on a number of different factors. Due to the many variables that go into pricing a motorcycle insurance policy, we suggest comparing premiums and coverage options with at least two or three different companies that made our ranking.
Make sure to compare policies based on their annual premiums, but also consider the coverage limits you’re offered and discounts you might be eligible for. By comparison shopping, you will find a motorcycle insurance policy that offers the exact coverage and limits you need at a price you can afford.
