Best Motorcycle Insurance Companies for 2024 (2024)

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By

Megan Glosson

Best Motorcycle Insurance Companies for 2024 (1)

Full Bio

Megan Glosson has over 350 published articles across nearly a dozen websites. She regularly contributes to Unwritten, Moms.com, and The Mighty and has numerous car-related articles published on TheThings.com and Motor1.com. She is an expert on car insurance. Megan received her Bachelor of Music degree from Middle Tennessee State University in 2010.

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Updated February 22, 2024

Reviewed by

Anthony Battle

Best Motorcycle Insurance Companies for 2024 (2)

Reviewed byAnthony Battle

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Anthony Battle is a CERTIFIED FINANCIAL PLANNER™ professional. He earned the Chartered Financial Consultant® designation for advanced financial planning, the Chartered Life Underwriter® designation for advanced insurance specialization, the Accredited Financial Counselor® for Financial Counseling and both the Retirement Income Certified Professional®, and Certified Retirement Counselor designations for advance retirement planning.

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Fact checked by

Amanda Bellucco-Chatham

Fact checked byAmanda Bellucco-Chatham

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Amanda Bellucco-Chatham is an editor, writer, and fact-checker with years of experience researching personal finance topics. Specialties include general financial planning, career development, lending, retirement, tax preparation, and credit.

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We chose Markel as the best motorcycle insurance company due to the insurer's deep experience with the motorcycle coverage market and plentiful discounts. To choose Markel, we researched more than 30 national motorcycle insurance providers, evaluating their coverage, discounts, J.D. Power customer satisfaction rankings, and AM Best financial strength ratings. Below, you'll find motorcycle insurance offers from our advertising partners, followed by our complete in-depth list of the best motorcycle insurance companies we've found.

Best Motorcycle Insurance Companies for 2024

Best Motorcycle Insurance Companies for 2024

Best Motorcycle Insurance Companies for 2024

  • Our Top Picks
  • Markel
  • Safeco
  • Harley-Davidson
  • USAA
  • Foremost
  • See More (2)
  • The Bottom Line

  • Compare Providers

  • Guide to Choosing

  • Factors to Consider When Choosing a Motorcycle Insurance Company

  • How Much Does Motorcycle Insurance Cost?

  • FAQ

  • Methodology

Best Overall : Markel

Key Specs

  • States availability: Nationwide except California and Massachusetts
  • Roadside assistance: Yes
  • Notable discounts: For switching to Markel

Why We Chose It

With decades of experience in motorcycle insurance, as well as a wide array of coverage options, Markel earns its title as the best overall choice for motorcycle insurance. Although the company doesn’t offer all of the tech tools that larger companies provide, it more than makes up for it in its wide range of coverage options and discounts.

Pros & Cons

Cons

  • Limited tech tools for customers

  • Coverage not available in Massachusetts or North Carolina

Coverage

Richmond, Virginia-based Markel offers customizable policies with its motorcycle insurance so you can protect your bike and all of its accessories. Within its policies, Markel provides the following types of coverage:

  • Bodily injury and property damage liability
  • Passenger liability for anyone riding with you
  • Medical payments and funeral expenses
  • Comprehensive and collision coverage
  • Accessory coverage up to $30,000
  • Uninsured motorist coverage
  • Mechanical breakdown and trailer coverage
  • Roadside assistance
  • Trip interruption and rental reimbursem*nt

Furthermore, Markel insures more motorcycle types than is typical, making it attractive for anyone having trouble getting coverage. The company's motorcycle insurance covers all of the following types of bikes and trikes:

  • Cruisers
  • Touring motorcycles
  • Sportbikes
  • Sport-touring bikes
  • Big twins
  • Street bikes
  • Scooters/mopeds
  • Dirt bikes
  • Trikes
  • Custom motorcycles

Discounts

Markel offers extensive discounts to its clients, which can save as much as 35% off their typical premium motorcycle insurance costs. These discounts include:

  • Transfer discount of 10% off just for switching to Markel
  • Anti-lock brakes discount
  • Anti-theft alarm discount
  • Multi-unit discount for those who insure more than one motorcycle
  • Renewal discount for drivers who continue to use Markel year after year
  • Safe driver discount for those who go accident-free or take a safety course
  • Safety course discount for those who take an approved safety class

Customer Satisfaction and Financial Strength

Markel maintains a financial strength rating of A with AM Best. Although Markel is smaller compared to other insurers, it receives few complaints. In 2022, the company had only four complaints to state insurance departments. It consistently has fewer complaints than expected for a company of its size.

Limitations

Markel is licensed to operate in all states except Massachusetts and North Carolina, and coverages and limits may vary by state or geographic area.

Additionally, it does not have a smartphone app or other perks that some larger, nationally recognized brands may offer. Still, the company does offer online policy management and claim filing.

Additional Perks

Markel may not have the marketing power of larger companies such as Geico or State Farm, but it does offer several perks that most motorcycle insurance providers do not. For starters, Markel has mechanical breakdown coverage for motorcycles which pays for repairs due to normal wear and tear.

Most insurance companies leave this coverage up to extended warranty providers, but Markel offers it as a coverage option, which is handy for anyone driving an older bike.

The diminishing deductible program is another discount feature that makes Markel stand out from the rest. Each year an insured driver goes without an accident, the company offers a 25% reduction on the driver’s deductible until it reaches $0 after four consecutive loss-free years.

Finally, Markel is one of the few motorcycle insurance companies to have an accident forgiveness program. If you end up in an at-fault accident after at least four years with no accidents, Markel will waive its accident surcharge. This is a useful perk for relatively safe drivers who end up in a small wreck.

Best for Cheap Motorcycle Insurance : Safeco

Key Specs

  • State availability: Nationwide
  • Roadside assistance: Add-on
  • Notable discounts: Claims-free

Why We Chose It

With multiple discount options, Safeco offers great ways to save. The company also includes many free features for which competitors often charge, which makes it a safe bet for cheap motorcycle coverage.

Founded in 1923, Boston-based Safeco is now owned by Liberty Mutual Insurance.

Pros & Cons

Pros

  • Coverage for OEM parts

  • Discount options

  • 24/7 roadside assistance and claims filing

Cons

  • No option for online quotes

  • Coverage not available in all states

Coverage

Like most other motorcycle insurance providers on this list, Safeco provides all of the basic types of coverage you’d expect or need, including:

  • Property damage and bodily injury liability
  • Passenger liability
  • Collision
  • Uninsured motorist coverage

However, where Safeco stands out is with all of the extra features and add-on options it provides:

  • Roadside assistance
  • OEM parts coverage
  • Safety apparel coverage (Add-on)
  • New Harley-Davidson replacement coverage (Add-on)

Discounts

With several available discounts for motorcyclists, Safeco offers some of the best savings in the industry. Discounts vary by location and policy, but you may be able to save on your premium by stacking some of these discounts:

  • Claims free discount for those who have had 12 months without a claim
  • Experienced-rider discount for those who have been riding the same bike for a while
  • Multi-cycle and multi-policy discounts for those who bundle

Customer Satisfaction and Financial Strength

Unlike some insurance companies that don’t really connect with you, Safeco prides itself on the availability of local agents and their attentiveness to your needs, making sure you have the coverage you need anytime you’re out on the road.

Safeco and its parent company, Liberty Mutual, have been awarded A ratings from AM Best. But the National Association of Insurance Commissioners reports that Safeco receives far more complaints than expected for a company of its size.

Limitations

Safeco isn’t a good choice for those looking for an exclusively online experience. You have to speak with a representative directly to get a quote, and its online resources are fairly limited, even on its smartphone app, available through Apple and Google Play.

Additional Perks

While some see working with a local agent as a drawback, others view it as a perk. With Safeco, you have a local agent available to you, but you can file claims online and access your policy 24/7 through Safeco’s customer portal and smartphone app.

Aside from some of its special coverage inclusions, such as coverage for OEM parts and your safety apparel, Safeco is a basic company with basic offerings. However, if you’re looking for cheap insurance without bells and whistles, you’ll save lots of money with Safeco.

Best for New Riders : Harley-Davidson

Key Specs

  • State availability: Nationwide except Alaska, Hawaii, and Washington, D.C.
  • Roadside assistance: Yes
  • Notable discounts: Harley Owners Group members

Why We Chose It

Who knows motorcycles better than one of the top motorcycle makers in the world? You can buy your bike from Harley-Davidson and also get insurance coverage directly through your Harley dealership. As the company covers any type of motorcycle and offers some enticing perks, it’s a solid choice for anyone new to motorcycle riding.

Harley-Davidson insurance is underwritten by a member of the Sentry Insurance Group, based in Stevens Point, Wisconsin.

Pros & Cons

Pros

  • Extensive coverage options for all motorcycle brands

  • Outstanding accident forgiveness policy

Cons

  • Coverage not available in all states

  • No other types of insurance policies (car, homeowner, etc.)

Coverage

No matter what type or brand of motorcycle you own, Harley-Davidson Insurance is ready and willing to provide you with coverage. They offer a wide selection of coverages from the standard options you'd expect to specialized options. The options include:

  • Property damage liability
  • Bodily injury liability
  • Passenger liability
  • Collision
  • Comprehensive
  • Roadside assistance
  • Equipment coverage
  • Vacation rental insurance
  • Full replacement cost
  • Optional equipment replacement cost
  • Uninsured and underinsured motorist coverage
  • Medical expense coverage
  • Personal injury protection

Additionally, Harley-Davidson insurance has some special features:

  • Genuine Harley Davidson replacement parts
  • Harley Owner's Group membership discount
  • Harley Davidson Riding Academy, insurance discount for course completion
  • Harley family advantage
  • Accident forgiveness

Discounts

In addition to the lengthy list of provided coverage, Harley-Davidson offers a wide array of discounts for its customers:

  • Motorcycle license endorsem*nt
  • Experienced driver discounts
  • Discounts for Harley Owners Group members
  • Riding academy discount if you completed an approved safety course in the last five years
  • New bike discount
  • Multi-cycle and bundle discounts
  • Anti-theft device discount
  • Claims-free discount for every six months you remain accident-free
  • Customer loyalty discount for every year you remain a Harley-Davidson insurance customer
  • Paid on-time discount when you renew your policy after making consistent on-time payments
  • Homeownership discount regardless of your homeowner's insurance company
  • Military and law enforcement

Customer Satisfaction and Financial Strength

While Harley-Davidson is one of the best-known motorcycle companies in the world and boasts a dedicated customer base, its motorcycle insurance is underwritten by Sentry Insurance. As a result, it’s difficult to gauge customer satisfaction ratings for Harley-Davidson insurance as an individual provider. Still, Sentry Insurance maintains an A+ rating for financial strength from AM Best.

Limitations

Harley-Davidson doesn’t provide coverage in Alaska, Hawaii, or Washington, D.C. Available coverage and policies also vary from state to state, so it’s best to talk to a representative or obtain an online quote before switching to Harley-Davidson. Finally, the company doesn’t offer a mobile app, so your business must be conducted entirely online, over the phone, or in person, which may turn away tech-savvy clients.

Additional Perks

Overall, Harley-Davidson’s perks make it a good option for new motorcyle riders. On top of its policies, the company offers extended service plans, theft and appearance protection, planned maintenance, bike loans, and a Visa rewards card that allows you to redeem points on Harley-Davidson gear, all of which come in handy for new riders.

Harley-Davidson also has an outstanding accident forgiveness policy as a standard part of all of its policies. As long as you maintain Harley-Davidson motorcycle insurance for at least a year, your motorcycle insurance rates won’t go up after your first accident.

Best for Military Members : USAA

Key Specs

  • State availability: Nationwide
  • Roadside assistance: Yes
  • Notable discounts: Safety training

Why We Chose It

Founded in San Antonio, Texas in 1922, USAA offers a wide array of insurance and financial products. What’s more, the company continuously receives high marks from rating services such as J.D. Power. If you are a current or former military member, then look no further than USAA for your motorcycle insurance.

Pros & Cons

Pros

  • Industry leader in customer service

  • 24/7 claim filing and roadside assistance

  • Several discounts available

Cons

  • Available only to current or former military members and their families

Coverage

USAA offers all of the basic types of coverage for your motorcycle, including:

  • Property damage and bodily injury liability
  • Collision and comprehensive
  • Uninsured motorist coverage
  • Medical payment provisions
  • 24/7 roadside assistance (included with your policy)

While USAA’s motorcycle coverage is pretty bare-bones, the company does cover nearly any type of bike and trike, including:

  • Cruisers
  • Touring motorcycles
  • Sport bikes
  • Scooters/mopeds
  • Dirt bikes
  • SXS, ATVs or UTVs

Discounts

While USAA may lack some of the added coverage features of other insurance companies, many military members choose it because of the low rates and attractive discounts. The latter include:

  • Save 5% when you purchase from USAA
  • Multi-cycle discount for those who insure multiple bikes through USAA
  • Safety training discount for those who complete an approved motorcycle safety course
  • Good driver discount for every year you remain accident-free

Customer Satisfaction and Financial Strength

Ask any USAA member what the best part of their insurance coverage is, and more than likely they will mention the company’s outstanding customer service. USAA consistently scores highly in J.D. Power rankings, though J.D. Power doesn't officially include the company in its rankings because of USAA's eligibility restrictions.

USAA has a financial strength rating of A++ (Superior) from AM Best, the highest grade available,

Limitations

USAA insurance is available only to current or former military members and their immediate families. While that’s a major limitation, it allows USAA to deliver a quality product to those who sign up for some of the most dangerous jobs in the world.

Additional Perks

USAA provides several convenient payment methods to its customers. You can pay your policy in full or elect to pay in monthly installments. You can schedule automatic payments as well. Payment methods include checking accounts, savings accounts, mailing a check, Visa, MasterCard, and American Express.

USAA now offers its customers free mobile tools that allow you to access and manage all of your USAA banking, insurance, and financial products You can also chat with customer service within the app. Insurance customers can file claims and access their card. Banking customers can access mobile wallets, use bill pay service, and send money with Zelle. There also are tools for calculating a loan and to help locate an ATM.

Best for Custom or Vintage Bikes : Foremost

Key Specs

  • State availability: Nationwide
  • Roadside assistance: Yes
  • Notable discounts: Multi-bike, multi-policy

Why We Chose It

Not all bikes are built the same, and Foremost realizes that. It’s one of the few companies that specifically offers coverage for vintage or special edition motorcycles.

Founded in 1952, Foremost has been covering motorcycles since 1970. It is now owned by Farmers Insurance Group. Its headquarters is in Caledonia, Michigan.

Pros & Cons

Pros

  • Covers bikes 25 years old or older as well as custom bikes with more than $30,000 of customization

  • Multiple discounts offered

  • Coverage for trailers and other equipment

Cons

  • Coverage not available in Hawaii or Massachusetts

  • No online quotes for homemade or kit assembled bikes

Coverage

Vintage or custom bikes aren’t the only types of motorcycles the company insures. Foremost will cover nearly any type of motorcycle or low-speed vehicle. Although Foremost groups its coverage options into packages, the company offers all of the following basic types of coverage:

  • Property damage and bodily injury liability
  • Collision
  • Medical payment provisions
  • Custom parts coverage up to $30,000
  • Personal injury protection
  • Passenger liability
  • Helmet and safety apparel coverage
  • Optional equipment coverage

Additionally, Foremost provides the following coverage add-ons or extras depending on the package you select:

  • Higher limits for equipment
  • Higher limits for medical payment and personal injury protection
  • Trip interruption, towing, and roadside assistance
  • Total loss replacement for up to five years
  • Trailer coverage

Besides the three levels of coverage for standard motorcycles, Foremost is one of the few companies in the industry that offers specialty coverage for specific types of bikes. The Vintage and Vintage Elite plans provide coverage specifically for motorcycles at least 25 years old that have been maintained or restored, and the Custom and Custom Elite plans provide coverage for “limited production, one-of-a-kind motorcycles or bikes with more than $30,000 in optional equipment.”

Discounts

Foremost also offers several discounts, including:

  • Multi-bike discount for insuring multiple motorcycles
  • Multi-policy discount for bundling policies
  • Endorsem*nt discount for those who have met state requirements to have a motorcycle endorsem*nt on their driver's license

Customer Satisfaction and Financial Strength

Although the company is a subsidiary of Farmers Insurance Group, Foremost Insurance holds a stand-alone rating of A from AM Best. Farmers Insurance Group received an at-average score in J.D. Power’s U.S. 2023 Auto Claims Satisfaction Study.

Limitations

Due to its size and structure, Foremost motorcycle insurance does come with some limitations. Coverage is not available in Hawaii or Massachusetts.

Also, Foremost will not insure high-risk drivers, especially those who have a suspended or restricted license. Foremost also reserves the right to base premiums or deny coverage based on your credit score, meaning that it may not be the best option for those with poor credit.

Additional Perks

While Foremost doesn’t offer many additional perks, the fact that it has an unusually high $30,000 limit for optional equipment and policy options for custom bikes with customization of $30,000 or more makes it a good choice for those who invest lots of time and money in their motorcycles.

The Bottom Line

Markel offers enough coverage options and discounts to make it a good choice for motorcycle insurance for almost anyone. This, combined with its long history and excellent reputation, makes it our top choice. Some of its extensive offerings, such as mechanical breakdown coverage, are things you won't find offered by most providers.

Compare the Best Motorcycle Insurance Companies for 2024

ProviderState AvailabilityRoadside AssistanceNotable Discounts
Markel Best Overall Motorcycle InsuranceNationwide except California and MassachusettsYesFor switching to Markel
Safeco Best for Cheap Motorcycle InsuranceNationwideAdd-onClaims-free
Harley-Davidson Best for New RidersNationwide except Alaska, Hawaii, and Washington, D.C.YesHarley Owners Group members
USAA Best for Military MembersNationwideYesSafety training
Foremost Best for Custom or Vintage BikesNationwideYesMulti-bike, multi-policy

What Does Motorcycle Insurance Cover?

Typical motorcycle insurance may include the following coverages:

Liability: This coverage is required in most states and pays for damages you cause to other vehicles or objects, or injuries you cause to people from an accident deemed your fault. It also covers you for lawsuits that might arise from such accidents.

Comprehensive: This covers you for items such as theft, vandalism, fire, and acts of nature. It's usually required by a lender or leasing company, and kicks in after you've met your deductible.

Colllision: Collision insurance pays for damages if your bike is in an accident with another vehicle or an object, no matter who's at fault. This coverage is also subject to a deductible.

Uninsured/underinsured motorist: If your bike is damaged by a driver with no insurance or insufficient insurance, uninsured motorist (UM) and underinsured motorist (UIM) coverage pay for repairing or replacing the motorcycle. Your injuries are also covered. This insurance picks up where the other driver's insurance ends.

Medical payments and personal injury protection (PIP): This optional coverage pays for medical bills for you and your passengers if you're in an accident, no matter who's at fault and whether it's with another vehicle or an object. In some states, you may also be able to buy PIP insurance, which is similar but may cover other costs related to injury, such as lost wages, childcare expenses, and funeral costs.

Motorcycle repair: Also called mechanical breakdown insurance, this optional coverage pays for certain repairs to your bike, such as engine or transmission failures. It's similar to an extended warranty.

Total loss: If your motorcycle is totaled in an accident and you have this coverage, it will pay the replacement cost of your bike, minus your deductible. It could be particularly helpful if you buy a new bike, and indeed, many insurers will only offer it for newer vehicles.

Factors to Consider When Choosing a Motorcycle Insurance Company

Your state's requirements: Some states allow you to add a rider to your auto insurance policy, but others require a standalone policy for motorcycles. Also, each state will have different minimum requirements regarding what must be covered and for how much.

Optional coverage: Likecar insurancepolicies, motorcycle insurance has different types, including bodily injury and property damage liability, collision coverage, comprehensive coverage, and more. You may also need specialized coverage. For example, if you have expensive customized parts on your bike, you may want an insurer that will provide additional coverage for those parts. Some providers will even offer additional coverage for expensive riding gear, such as helmets.

Your bike type: Coverage and rates vary for different types of bikes, such as touring bikes, dirt bikes, and custom bikes. Sports bikes or street bikes are the most expensive to insure because they pose the highest risk of accidents and theft. Shop around for providers that offer the best rates and coverage for the specific type of bike you have.

Your seasonal driving habits: If you only ride your motorcycle in the warmer months, consider getting a "winter layup" or "layup policy." This is a seasonal policy that suspends your coverage during the winter months.'

How Much Does Motorcycle Insurance Cost?

The average cost of motorcycle insurance is:

  • $68 a month ($816 annually) for minimum coverage
  • $148 a month ($1,776 annually) for full coverage.

Your costs can still vary a lot depending on certain factors.

Coverage and Deductible

The types of coverages you choose impact how much you pay. If you have higher liability limits, comprehensive and collision coverage, or add-ons like roadside assistance, your rate will be higher. Your deductible matters too. A higher deductible can lower your premium, but make sure you have enough savings to cover your deductible.

Age

The younger you are, the more you'll typically pay, especially if you're under 21. The average monthly rate for a 50-year-old motorcyclist is $138, while it's nearly four times that ($533 a month) for an 18-year-old.

Average Motorcycle Insurance Cost by Driver Age
AgeAvg. Monthly Cost
18$533
21$273
25$183
30$162
40$148
50$138

Location

If you live in an urban area, you should expect to pay more on average than drivers in rural areas where roads are less trafficked and tend to have lower theft rates.

Your state matters as well. Georgia has the lowest premiums while New York state has the highest.

Average Motorcycle Insurance Costs by State
StateAverage Monthly Cost
Alabama$144
Alaska$131
Arizona$184
Arkansas$172
California$92
Colorado$159
Connecticut$201
Delaware$184
Florida$258
Georgia$75
Hawaii$120
Idaho$125
Illinois$132
Indiana$104
Iowa$89
Kansas$171
Kentucky$135
Louisiana$287
Maine$81
Maryland$148
Massachusetts$137
Michigan$303
Minnesota$114
Mississippi$111
Missouri$135
Montana$173
Nebraska$195
Nevada$140
New Hampshire$98
New Jersey$229
New Mexico$151
New York$305
North Dakota$132
Ohio$106
Oklahoma$151
Oregon$148
Pennsylvania$134
Rhode Island$136
South Carolina$143
South Dakota$109
Tennessee$83
Texas$186
Utah$130
Vermont$81
Virginia$128
Washington$132
Washington, D.C.$130
West Virginia$110
Wisconsin$110
Wyoming$183

Your Driving Record

If you have a clean driving record, your rates will be lower than someone who's had a speeding ticket, at-fault accident, or DUI. The average Insurify quote for liability-only insurance for someone with a clean record is $811 a year. For those with an at-fault accident, it's $1,205; drivers with a speeding ticket might pay $1,058, and those with a DUI could pay $1,463.

Age and Type of Bike

Sport and touring bikes typically are more expensive to insure than scooters and cruisers. The age of your bike is also a factor insurers consider when setting rates. Newer motorcycles tend to garner higher premiums.

Credit Score

The use of credit-based insurance scores in setting vehicle insurance rates has become controversial, but it's still in practice in most states. Eight states limit this practice: California, Hawaii, Maryland, Massachusetts, Michigan, Nevada, Oregon, and Utah.

Your insurance credit score is based on information in your credit report, such as your payment history and credit utilization ratio.

Average Annual Cost by Credit Rating
Credit ScoreAnnual Cost: Full CoverageAnnual Cost: Liability Only
Excellent$1,427$687
Good$1,779$811
Average$1,991$885
Poor$3,101$1,325

Frequently Asked Questions

  • How Much Is Motorcycle Insurance?

    The average cost of motorcycle insurance is $68 for minimum coverage and $148 for full coverage. But your premium could be very different from that. Insurers use many factors to determine your rate, including age, gender, location, type of bike, average usage, requested coverage, driving history, and credit score. You should compare policies and always read the fine print before committing to a provider. Make sure there are no coverage exclusions or hidden fees based on the type of bike you’re insuring, any custom equipment, and your typical driving time on the bike.

  • Do You Need Motorcycle Insurance?

    Yes, because standard car insurance coverage doesn't carry over to your motorcycle. Some insurance companies offer policyholders the option to add a motorcycle endorsem*nt or rider to their existing policy. But these options don't always provide the best, most thorough coverage. Also, each state maintains specific insurance requirements for motorcycles. In most cases, a standalone policy will be the best way to get all of the needed coverage while also protecting other assets, such as custom parts, passengers, and riding gear.

  • Can I Cancel My Motorcycle Insurance in the Winter?

    If you won't be riding during the winter, you don't have to have motorcycle insurance. But you still probably shouldn't cancel your policy because you'll lose coverage for things like theft and fire.

    Most motorcycle insurance providers offer what's called lay-up insurance during the winter months for those who live in colder regions. During this period, you'll likely save money on your premium but still receive coverage for theft and other damages that could occur in storage. However, always keep in mind that your insurance company won't cover a motorcycle accident that occurs on the road during the lay-up period, so don't select this option if you plan to ride year-round.

  • How Can You Get Cheap Motorcycle Insurance?

    While you should never skip out on certain types of coverage just to save money, there are smart ways you can save on your motorcycle insurance. Look for providers that offer lots of discounts for things like safety courses, bundling policies, maintaining a clean driving record, and more. Also, consider choosing a less expensive bike to insure.

  • What Makes Motorcycle Insurance So Expensive?

    In general, high-performance engine motorcycles designed to drive at high speeds will cost more to insure. This is because they're perceived as riskier in terms of damage to your motorcycle and to other people and property. In addition, larger engine bikes can cost more to repair. If you cause an accident, your motorcycle insurer must pay the claims of any damages you cause. If you have collision insurance for your motorcycle, your insurer will also pay to repair or replace your motorcycle.

  • Is Harley Davidson Insurance Expensive?

    Buying insurance for your Harley Davidson motorcycle could be expensive if you buy a motorcycle with a larger engine. In addition, if you borrowed money to buy a motorcycle, you'll be required to carry more coverage that protects the bike against damage and the lender's investment. Harley-Davidson Insurance offers quotes and protection for both the well-recognized manufacturer's bikes and other motorcycles as well.

  • Are Older Motorcycles Cheaper to Insure?

    Older or vintage motorcycles may not be cheaper to insure, particularly if the motorcycle manufacturer has gone out of business, making it harder to get parts. Comprehensive and collision (insurance that pays for damage to your bike) can be far more expensive if your motorcycle is rare, expensive, or otherwise difficult or expensive to source parts for.

  • Can You Get Motorcycle Insurance Without a License?

    Technically, you don't have to have a license to get motorcycle coverage, but most insurers will ask to see a valid motorcycle license number. You may want this coverage if you're still learning, or you have a suspended license, for example. While it's possible you can find an insurer that accepts a learner's permit, they may still require you to be on a policy with a valid license holder. Dairyland reportedly does not require a motorcycle endorsem*nt on your license in order to be approved for coverage.

Methodology

When determining our top motorcycle insurance choices, we studied policies for more than 30 companies to see what each one offered in terms of coverage and discounts. We also evaluated each company based on several categories, including financial strength via AM Best, claims satisfaction ratings based on J.D. Power’s latest Claims Satisfaction Survey, and more. Our analysis is intended to be a useful guide, but we encourage you to compare motorcycle insurance quotes before committing to a motorcycle insurance provider.

Best Motorcycle Insurance Companies for 2024 (8)

Article Sources

Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in oureditorial policy.

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  2. Markel. "Motorcycle Insurance Discounts."

  3. AM Best. "Markel Insurance Company."

  4. National Association of Insurance Commissioners. “Markel Amer Ins Co National Complaint Index.”

  5. AM Best. “Safeco Insurance Company of America.”

  6. AM Best. “Wausau Underwriters Insurance Company.”

  7. National Association of Insurance Commissioners. "Safeco Ins Co of Amer National Complaint Index Report."

  8. AM Best. “Sentry Insurance Company.”

  9. J.D. Power. “Auto Insurance Satisfaction Plummets as Rates Continue to Surge, J.D. Power Finds.”

  10. J.D. Power. “Insurers Struggle to Manage Expectations in Auto Claims Process as Repair Times Increase, J.D. Power Finds.”

  11. Foremost. "Motorcycle Insurance."

  12. AM Best. "Foremost Insurance Co Grand Rapids, MI."

  13. J.D. Power. "Auto Insurers Manage Customer Expectations as Repair Cycle Times Double in Two Years, J.D. Power Finds."

  14. Insurify. "How Much Is Motorcycle Insurance?"

  15. Experian. "Which States Restrict the Use of Credit Scores in Determining Insurance Rates?"

  16. Elephant Insurance. "Can You Get Motorcycle Insurance Without a License?"

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Best Motorcycle Insurance Companies for 2024 (2024)

FAQs

What company has the best motorcycle insurance? ›

Summary of Money's Best Motorcycle Insurance Companies of 2024
  • Progressive – Best for Accident Forgiveness.
  • Harley-Davidson – Best for New Riders.
  • Foremost – Best for Track Riders.
  • Nationwide – Best for Motorcycle Collectors.
  • Safeco – Best for Homemade and Kit Bikes.
5 days ago

What is the best bike insurance company? ›

21+ Best Bike Insurance Companies in India for 2024: IRDAI Approved
Bike Insurance CompanyMotor OD Claim Settlement Ratio FY20Network Garages
Bajaj Allianz General Insurance88.83%4,000+
Future Generali India Insurance87.40%3,500+
Bharti AXA General Insurance87.99%5,200+
ICICI Lombard General Insurance87.71%5,600+
20 more rows

Is Progressive the best motorcycle insurance? ›

Progressive is the #1 motorcycle insurer in the country, and the proof is in the protection. We offer a wide range of coverages to give you peace of mind and protect your bike. Many of these coverage types are automatically included at no extra cost.

How to lower motorcycle insurance cost? ›

Here are several ways to lower motorcycle insurance costs and still ride with peace of mind:
  1. Complete a motorcycle safety course. ...
  2. Maximize all available discounts. ...
  3. Customize your coverages to your bike and situation. ...
  4. Increase your deductible. ...
  5. Combine policies. ...
  6. Keep your policy current. ...
  7. Avoid motorcycles with modified engines.

Who is the cheapest for motorcycle insurance? ›

We found the best cheap motorcycle insurance companies to be the following:
  • Geico: $428 per year.
  • Dairyland: $504 per year.
  • Progressive: $530 per year.
  • Allstate: $746 per year.
Mar 4, 2024

Which motorbike insurance is the cheapest? ›

Bike Insurance Policies 2024
Bike Insurance CompaniesCashless GaragesPersonal Accidental Cover
GO DIGIT General Insurance Ltd.1400+₹ 15 Lakh
HDFC ERGO General Insurance Company Ltd.2000+₹ 15 Lakh
IFFCO Tokio General Insurance Co. Ltd.4300₹ 15 Lakh
Kotak Mahindra Insurance Co. Ltd.3000+₹ 15 Lakh
14 more rows

What's the most expensive motorcycle insurance? ›

Motorcycle insurance rates can vary by $33 per month from one insurance company to the next. The cheapest bike insurance comes from Dairyland, which costs $22 per month, on average. Nationwide is the most expensive company, at $55 per month.

How to buy best bike insurance? ›

How to Choose the Best 2 Wheeler Insurance?
  1. Know your Coverage Requirement. ...
  2. The Cubic Capacity of Bike Decides your Premium. ...
  3. Understand Insurance Declared Value (IDV) ...
  4. Look for Riders to Extend your Insurance Cover. ...
  5. Choose a Reputed Insurer. ...
  6. Compare Bike Insurance Online. ...
  7. Don't Forget to Read Online Reviews.

When should I get bike insurance? ›

You might need bicycle insurance if you have an expensive bike or ride competitively. For everyday use, the coverage from your home or renters insurance is probably enough. But a bike insurance policy can give you more coverage and coverage for more scenarios, like racing and bike-related events.

Who is better Geico or Progressive? ›

Geico tends to offer lower rates for most policyholders and has slightly higher customer satisfaction scores. On the other hand, Progressive has great options for high-risk drivers and more widely available usage-based insurance.

What makes motorcycle insurance so expensive? ›

Year-Round Riding Season

Unlike other states with harsh winters and limited riding opportunities, California's mild climate allows motorcyclists to hit the road all year long. This increased time on the road leads to a higher likelihood of accidents, which in turn drives up insurance rates.

Is USAA motorcycle insurance through Progressive? ›

USAA doesn't sell its own motorcycle insurance. It partners with Progressive to provide excellent coverage to its members. USAA members get a 5% discount, along with any other Progressive discounts they qualify for.

Is it OK to cancel motorcycle insurance in winter? ›

Why you shouldn't cancel motorcycle insurance during the months you don't ride. When your bike is stored away during off-season months, there are still risks involved in having no insurance coverage: Theft: If someone steals your motorcycle, your investment could be lost.

Can you cancel motorcycle insurance anytime? ›

You might be able to obtain a standard 12-month motorcycle insurance term. Most insurers will allow customers to purchase regular insurance and cancel at any time with written notice.

Are motorcycles more expensive to insure? ›

On top of that, the injuries received in a motorcycle accident are likely to be much more catastrophic than those sustained in a car accident. For these reasons, insuring a motorcycle is going to be much more expensive than insuring a motor vehicle in California.

Which motorcycles are expensive to insure? ›

Type of motorcycle: Sports bikes typically cost the most to insure and touring bikes cost the least. Expect dirt bikes and trikes to have different rates, as they're separate models.

Who is the leading motorcycle company? ›

For several years, Hero Motocorp has been the leading motorcycle manufacturer with over 30% market share in the industry. The company offers over 20 models in India and exports several models outside the country.

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