When you get on your motorcycle, you may think of numerous things: motorcycle helmets, leathers, boots, gas, and tires, but insurance coverage may not be one of them.
It ought to be.
When it comes to bikes, insurance is a must, according to Ben Galbreath, an independent insurance agent with Wallace & Turner Insurance in Springfield, Ohio. “I urge clients to purchase the largest medical payment amount and to at least match their auto insurance bodily injury and uninsured/underinsured motorist coverage.”
Motorcycle insurance, like vehicle insurance, limits your liability in the event of an accident. Every state except Florida, Washington, Montana, and New Hampshire requires it.
However, it is distinct from auto insurance and tends to be less expensive; according to data from J.D. Power’s NADAguides, the typical motorcycle insurance coverage in the United States costs $519. Depending on the state you live in, your gender, your driving record, and the insurer, your real cost of motorbike insurance might range into the thousands.
The Best Motorcycle Insurance Companies, According to Us
The insurance company you select to ensure you and your motorcycle will have a significant impact on your costs. As a result, before deciding on insurance, every cyclist should compare rates. We think these businesses are worth considering for motorbike insurance, whether you’re searching for your first policy or just looking around.
We used data from J.D. Power’s NADAguides to calculate average pricing based on an 18-year-old rider in New York. Rates can vary greatly depending on your specific needs and budget.
Motorcycle Insurance Types
Most states require motorcycle riders to get liability insurance, which compensates people for injuries and damages caused by you if you cause an accident. Motorcycle insurance coverage can be as extensive or as narrow as you want it to be, depending on your state’s minimal requirements.
“One of the difficulties you may have is that each insurance company underwrites motorbike coverage differently,” Galbreath explains. “Some coverages, like as medical payment, liability coverage, and possibly deductibles, are limited to a maximum they will make accessible.”
Riders should also consider coverage for those who ride with them, commonly known as guest passenger liability coverage, according to Galbreath. Medical costs coverage, as well as bodily injury and/or uninsured/underinsured motorist coverage, may be available, depending on your state and insurance. Some insurers include guest passenger liability coverage as standard in their policies, while others sell it as an add-on.
GEICO
When it comes to motorcycle insurance, GEICO stands out for its affordability. If you’re a daily motorcycle rider, GEICO not only has affordable coverage but also has mobile capabilities to help you manage your policy. Standard motorcycle coverage is available from GEICO, as well as optional add-ons like accessories coverage and emergency roadside assistance. It also has an outstanding rating from A.M. Best, which assesses an insurer’s financial strength and, as a result, it is capacity to pay claims.
Furthermore, GEICO offers seven distinct savings that you may be eligible for. If you transfer from another carrier, for example, you can save 10% on your premium or get a discount if you insure more than one motorcycle with GEICO.
$345 is the average annual premium.
A.M. Best Rate: A++
Discounts for motorcycle insurance: 7
Nationwide
Nationwide offers a wide range of coverage options as well as numerous discounts. Nationwide, which was founded in 1926, has a long history of ensuring bikes. Its rates are calculated on a year-round basis.
You can also customize your insurance with Nationwide to cover up to 12 bikes on a single policy with coverage up to $50,000 per bike, unique parts (up to $30,000), custom bikes, and trikes (up to $50,000), and motorcycle trailers. It also gives up to eight different motorbike insurance savings.
$367* is the average annual premium.
Best Rate in the Morning: A+
The following are the number of motorcycle insurance discounts available: 8.
Progressive
Progressive’s discounts and coverage add-ons, many of which are offered at no extra charge, make it an excellent choice for motorcycle riders. All Progressive motorcycle insurance policies immediately feature full replacement cost and no depreciation for parts; $3,000 in comprehensive and collision coverage to pay for upgrades, customizations, equipment, and extras; and OEM parts during repairs.
Progressive also creates insurance for a variety of motorcycles and mopeds, as well as dirt bikes, sportbikes, performance bikes, autocycles, enduro bikes, touring bikes, trikes, collectibles, scooters, ATVs, and UTVs.
$704* is the average annual premium.
Best Rate in the Morning: A+
The number of motorcycle insurance discounts available is ten.
Markel Markel is the most expensive of the bunch, but it claims to specialize in motorcycle insurance, which shows in the policy possibilities. Markel offers a variety of additional coverage alternatives in addition to its normal services.
Markel’s mechanical breakdown coverage, rental reimbursement, and accident forgiveness program, for example, might be a huge aid to frequent riders and isn’t offered by many other insurers. With its multiple discounts, this organization also makes it simple to reduce the cost of motorbike insurance.
- Motorcycle medical payments coverage. This coverage can help pay for you and your passengers’ medical bills if you’re in an accident, regardless of who’s at fault.
- Roadside assistance coverage: If your bike is stuck or breaks down somewhere, a roadside assistance program can provide services and minor mechanical repairs to your motorcycle to make it operable again after a breakdown. For example, Progressive will tow your bike to the nearest repair shop for free.
- Custom parts coverage: The majority of comprehensive and collision insurance policies only cover genuine factory items. Sidecars, chrome pieces, custom paint jobs, and other items are covered under custom parts coverage.
- Uninsured/underinsured motorist coverage: This is a standard policy that protects you and your property if you’re involved in a collision with someone who doesn’t have adequate insurance or none at all.
- Medical costs coverage for motorcycles. If you’re in an accident, this coverage can help pay for your medical bills and those of your passengers, regardless of who is to blame.
- Roadside aid coverage: If your motorcycle gets trapped or breaks down someplace, a roadside assistance program can help you get it back on the road by providing services and minor mechanical repairs. Progressive, for example, will tow your bike for free to the nearest repair shop.