Personal Finance Expert
Tyron Jones is a finance expert who has operated within the auto insurance business for more than 10 years. He has written many other finance related articles for a number of prominent publications.
Everyone wants to drive legally when they’re on the road. One thing that’s essential to staying legal when you’re behind the wheel is insurance. As it turns out, if that wheel is a set of handlebars, you still need insurance to drive legally.
This article will tell you everything you need to know about cheap motorcycle insurance. We’ll go over what insurance is, what kinds of insurance coverage you get with motorcycle insurance, some different ways to lower the cost of your insurance, how much insurance you need in each state, and finally, some of the best companies for motorcycle insurance in different situations. Use this information to make an informed decision and to get the best motorcycle insurance for your needs.
What is Motorcycle Insurance?
Motorcycle insurance is just like car insurance, but for your bike. You’ll get at least state minimum protection for liability, property damage, and personal injury. You can get liability only coverage or comprehensive coverage. The information below will help you understand what kinds of benefits and savings offers are available for motorcycle insurance in your area.
What Kind of Coverage Does Motorcycle Insurance Include?
This section covers the different types of benefits you can sign on for with your insurance. Use this information to make sure your insurance is prefect for your needs.
Liability coverage protects you from having to pay damages from a crash where you’re responsible. It’s also a required component of any motorcycle insurance in all 50 states. That’s because it’s one of the most essential parts of any automotive coverage. Without liability coverage you could find yourself on the hook for thousands or even tens of thousands of dollars to cover the damages and injuries from an accident.
Collision and Comprehensive
Collision and comprehensive coverage are usually sold together or treated as the same thing. This type of coverage gives you protection from the cost of having to pay to repair or replace your bike if you’re in an accident. One thing that’s important to note is that you might need special kinds of collision or comprehensive coverage if you have custom parts or paint on your bike that you want protected in case the worst should happen.
Medical protection covers yourself, and riders you have with you, and individuals in any vehicle you’re involved with in a collision. Every state has different minimum limits for what kind of medical coverage riders need to have, to make sure your insurance meets your state minimum. This is especially important if you move, as changes to your medical limits can have large impacts on the cost you pay for insurance. Medical insurance coverage is especially important for motorcycle riders because of the severe nature of the injuries that can happen when you get into a crash on a motorcycle.
Medical coverage doesn’t only protect you though. It also protects people that might be injured in a crash you’re involved in. Medical bills for a car accident can get really expensive. Ensuring you have enough medical coverage is essential to protecting yourself from huge bills.
Coverage for Customizations and Equipment
Many people like to customize their bikes. These customizations can include custom paint jobs and/or customized equipment. However, many insurance companies don’t cover customizations or add-ons to vehicles. Instead, they only cover the stock price of the bike. Motorcycle insurance is good about allowing you to get extra coverage for the modifications and customizations you’ve made to your bike. That way should something terrible happen, you’ll be able to restore your bike to its former glory or replace it with a brand-new custom piece. In short, customization coverage is essential for people that want to be sure they get the value they put into their bike back out again if it’s in a crash.
Roadside assistance is a common perk you get with most insurance companies. You can also usually get it as an add-on to your insurance policy if it doesn’t come standard. Roadside assistance includes things like help with flat tires, help when you run out of gas, and other types of assistance when you’re stranded on the side of the road. Roadside assistance can be a great way to get your bike where it needs to be for repairs when you don’t have any other options.
There are lots of riders that only use their bikes during warm months. This makes sense, as crummy weather makes for an unsafe motorcycle ride. If you only ride your motorcycle for a limited number of months in the year, make sure you ask your insurance company about a layup period.
A layup period is a special condition where your coverage is suspended but you don’t lose credit for staying covered. That protects your bike from having its registration revoked, and also means you get to keep your continuous coverage discount.
All you need to do is verify that you won’t be using your bike for certain months out of the year. Your coverage stops for those periods and your bill is sharply reduced or even taken all the way down to zero. After all, you shouldn’t have to pay full price for insurance when you’re not even using the vehicle that is insured for several more months. As a result, this is a great way to save money on motorcycle insurance for many riders.
Making Motorcycle Insurance Cheaper: Common Discounts
Now that you understand the different options and types of coverage you can get with your motorcycle insurance, it’s time to discuss ways to save money. After all, no one likes paying more for insurance than that absolutely have to, and you deserve to spend your hard-earned dollars on things you want.
One of the most common ways people save money is by doing a car and motorcycle insurance bundle. Most insurance companies will offer you a huge discount if you have more than one insurance product with them. Even better, the more things you insure with the same company, the better the rate you usually get.
There are lots of different bundle options available. You can bundle your car and your bike, your bike and your home, your car, your bike, and your home, and so on. Bundling allows insurance companies to offer a discount because they’re already making a profit on your initial policy. Therefore, they can add policies to your coverage and only need to charge you for their cost, instead of charging you their cost plus the cost of making a profit.
Another way to save money on your motorcycle insurance is to transfer your coverage. Motorcycle insurance is a very competitive industry. Many insurance companies will offer you a discount for switching to their company from your current provider. You can use this option to get a much better rate on your insurance than you’re currently paying.
Another common discount option is a renewal discount. You can get this discount if you stick with the same insurance company for more than one term. Insurance companies really like to hang on to customers, and offering them a discount if they renew their policy is one of the best ways to create a win-win situation: you get to pay less for insurance and the insurance company gets to retain your business.
One thing that’s important to do if you’re trying to get the cheapest motorcycle insurance possible is to compare your renewal discount to some of the coverage transfer discounts offered by other companies. If you find that the coverage transfer discount results in a better price, then you can either switch or use that fact to negotiate a lower price with your current insurance company.
Safety courses and classes are an extremely effective way to reduce the cost of your motorcycle insurance. Nearly every state’s laws mandate that insurance companies offer you a discount if you take additional driver training courses. The courses usually focus on classroom learning, making sure you know the road laws and also ensuring you know how to safely operate your bike. Some classes include road tests and other features to make sure you’re as on top of your game as possible.
One of the best things about driver training discounts is that they can be combined with other discounts on this list to really save you some money on your car insurance. You can combine driver training with bundling, renewal discounts, paid-in-full discounts, or coverage transfer discounts to get the best possible price on motorcycle insurance.
Lots of people pay their motorcycle insurance month to month. However, your insurance is issued for a set term, usually six months. Paying the entire term up front is a great way to save money on your insurance.
The insurance companies offer this discount because paying your full term of insurance upfront means they don’t need to take a risk that you’ll stop paying your bill. It also means less paperwork and processing on their end, which saves the company time and money. Make sure that the company passes these savings along to you. In addition to saving money, you’ll get the reward of knowing that your bike is insured for the next 6 months without having to worry about paying a monthly bill.
Many students use motorcycles. This makes sense. A bike is usually cheaper to obtain and run than a car. One discount that many people aren’t aware of is good grades discounts for students. Insurance companies use statistics to determine the cost of your insurance. Stats tell insurance companies that students who get good grades are less likely to file a claim. That means insurance companies will reward you for high marks on your report card. If you’re a student who rides a motorcycle, make sure that you check with your insurance company to see if there’s a good grades discount you could be eligible for.
The final discount is relatively new to motorcycle insurance, but is still a powerful way to save money. Companies offer safe driver discounts and rebates because safe drivers don’t generate claims. As a result, the insurance company can be more confident that they won’t be required to pay out a claim on your behalf. That lowers their costs, which in turn lower your costs.
There are several ways that companies can determine you’re a safe driver. Some companies offer the discount after you go a set period of time without making a claim. Other companies have devices you can plug into your bike. These devices record metrics about how you drive. They track things like your speed, acceleration, breaking, and turning to understand how safe of a driver you are. The safer you drive, the bigger the discount you’ll see on your insurance bill.
How Much Coverage Do You Need In Each State?
Every state makes their own insurance laws. That means you need different amounts of coverage in every state. The state laws that apply to your bike are the laws of the state where your bike is registered. Use this helpful chart to understand what kind of coverage you need where you live.
|State||Limits||Required by State|
Best Cheap Motorcycle Insurance Companies
Nationwide – Best for Upgrades
The big reason to take Nationwide for your motorcycle insurance is that they make it really easy and cheap to upgrade the policy. You can increase your limits for things like liability, medical and collision without making a huge change to your total.
Nationwide is also an excellent choice for “high-risk” drivers. That means drivers that ride fast and expensive sport bikes, or drivers that have filed multiple claims in the past. If you fit into these categories, then Nationwide might be the best choice for you.
Another thing we like about Nationwide motorcycle insurance is that each policy includes at least $2,000 of insurance for any personal belongings on your bike. That includes everything from your laptop to your safety equipment. This is twice what most other companies offer, which comes in at around $1,000.
Finally, Nationwide has an incredibly streamlined website and claims process. That means that should you need to use your insurance, you can be assured the process will be as seamless and painless as possible. You can even use the Nationwide app to make the claims process faster by uploading photos and information related to your claim.
Liberty Mutual – Best for Safety Discounts
Liberty Mutual is one of the best options for safe riders. That’s because they have some of the best safety discounts on the market today. You can get discounts for taking and passing approved motorcycle training courses. You can also get accident forgiveness if you go 5 years without an accident. That means some serious savings for most riders.
Another benefit of liberty mutual is the fact that they have several coverage options to help you out if your bike is a total loss. Better Bike Replacement grants money for a bike that’s one model year newer with 2,500 fewer miles on it than your current bike. However, there are also options for people with a brand new bike. New Bike Replacement coverage will pay for a new motorcycle with no depreciation applied if your bike gets lost to collision or theft in the first year you own it.
One thing you nee to be careful about is that the patchwork of different state insurance laws can be problematic. While Liberty Mutual insurance is offered in all 50 states, all 50 states don’t allow for all of the types of programs we’ve just described. You’ll need to talk to a local agent to see what kinds of coverage options are available where you life.
Safeco – Best for Discounts
Safeco is one of the best motorcycle insurance companies when it comes to discounts. In addition to the standard discounts, like safe driving, accident free, and motorcycle association membership, you can get other types as well. One of our favorite discounts offered by Safeco is the experienced rider discount. This discount cuts your insurance price after you’ve been riding for more than one year.
Another thing that’s great about Safeco motorcycle insurance is the roadside assistance they offer. They provide some of the best roadside assistance coverage, along with things like towing, trip interruption benefits, battery services, and so on. As a result, you can get reimbursed for your losses if your bike breaks down while you’re on a trip.
One thing to look out for is that Safeco isn’t always the best option for specialty bikes. If you have an vintage motorcycle or high-powered sports bike, the Safeco might not be the best option for you. That’s because Safeco doesn’t offer any kind of agreed actual value coverage for your bike. As a result, the reimbursement you get might be substantially lower than the cost of replacing your vintage or antique motorcycle.
Allstate – Best for Coverage Options
Allstate has the standard coverage options you expect. However, they also have more to add to these options. Allstate offers things like options to cover damage to your vehicle transport trailer as well as the bike your transporting. That puts them ahead of several companies who won’t cover damage to your bike if it’s on a trailer when you get into a crash.
Allstate also has some of the best lease/loan gap protection options. That makes them a great choice for people that are financing their bike. If you get into a crash, the amount the insurance company pays out might be less than the amount you still owe on your bike. Normally, you’d be on the hook for this difference yourself. That means you could owe thousands of dollars on a bike you don’t even own anymore. However, the gap insurance offered by Allstate will pay off the full value of your outstanding loan. That means you get a clean slate, instead of trying to dig your way back to ground level.
If you’re considering Allstate motorcycle insurance, one thing to keep in mind is that they don’t offer as many discount programs as other insurance companies. You get the standard discount options for things like motorcycle training courses and accident-free riding, but you might be missing out on other deals. One thing that makes up for this is the fantastic policies they have for bundling your motorcycle insurance with other insurance products. Allstate has some of the best deals on bundles on the market today.
Progressive – Best for Coverage Add-Ons
We really like the fact that Progressive offers lots of coverage add ons, frequently at no additional cost. All Progressive policies have full replacement insurance. That means you can restore your bike to it’s full pre-accident condition without any deductions for depreciation or anything like that.
You can also get an original equipment discount from Progressive. The Original Equipment Manufacturer coverage ensures that any original parts on your bike will be replaced by the same original parts. Additionally, if you have custom parts on your bike, then your replacement parts will also be custom. All Progressive policies also include $3,000 in coverage for damage to custom parts, upgrades, and other customizations.
The Progressive accident forgiveness program is also top-notch. It gives you lots of different options to expand your coverage and protection or to keep your premiums low. With accident forgiveness, you won’t be charged for your first accident after four years of accident free driving, as long as the accident cost is more than $500.
Foremost – Best for Custom Bikes
Custom bikes can get expensive to insure. That’s especially true if you want to make sure your policy will give you the funds to replace your current bike with something similar. However, Foremost offers higher optional equipment coverage limits than other insurance providers. All of their policies include $3,500 in coverage for custom equipment at no additional cost to riders. This covers everything from Chroming to custom paint jobs and side cars.
You also have the option to increase this limit when you insure your bike with Foremost. You can set your custom equipment limit as high as $15,000. You can also get up to $1,500 for safety equipment like helmets and goggles. As a result, it’s an excellent insurance option for people with fully customized bikes that want to make sure their own personal work of art is protected should the worst happen.
Understanding Motorcycle Insurance
As you can see, there are plenty of options when it comes to motorcycle insurance. Use this information in this article to make sure you’re getting the best deal possible when it comes to insuring your bike. The better the deal you get on insurance, the more money you’ll have to make sure your bike is exactly what you want it to be.
General Motorcycle Insurance Questions
This section covers general questions people have about motorcycle insurance. Use this information to make an informed decision about the best option for your insurance.
How to get motorcycle insurance?
You can get motorcycle insurance by asking for a quote from an insurance company. We recommend using online tools to use price comparison to make sure you’re getting the best deal. Look into get insurance now pay later options if you need coverage but can't afford to pay right now.
How does motorcycle insurance work?
Motorcycle insurance works just like normal car insurance. You get the same kinds of coverage plus extra coverage for issues specific to motorcycles.
What is the best motorcycle insurance?
There’s no one best motorcycle insurance. You should use a price comparison tool to see the best options in your area.
How to buy motorcycle insurance?
You can buy motorcycle insurance through insurance company websites. Use a comparison tool to see different prices and make sure you get the best rate. There are a number of auto insurance providers that offer this coverage as well.
What is motorcycle insurance?
Motorcycle insurance is like car insurance for your motorcycle. It covers medical, liability, and property damage, along with other things specific to motorcycles.
How to apply for motorcycle insurance?
The best way to apply for motorcycle insurance is through a company’s website. You can apply and get a quote. Compare your quotes to pick the best deal.
How can I switch motorcycle insurance?
You can switch insurance by signing up with a new insurance company. Most companies will contact your old provider to cancel your previous coverage. Use an insurance comparison tool to find the best rates in your area.
What documents are needed for motorcycle insurance?
You’ll need your driver’s license number and information about your bike, like make, model, VIN, and other information to apply for motorcycle insurance.
Motorcycle Insurance Prices
We’ll answer the most common questions people have about motorcycle insurance prices in this section.
How much is motorcycle insurance?
The price of motorcycle insurance can change a lot depending on your circumstances. The average rate is between $100 and $500 per year.
What is the average cost of motorcycle insurance?
The average annual cost of motorcycle insurance is between $100 and $500 per year.
How to get cheap motorcycle insurance?
You can get cheap motorcycle insurance by using price comparison tools and taking advantage of things like driver training discounts.
How much is full coverage motorcycle insurance?
Full motorcycle insurance generally costs between $100 and $500 per year, depending on your bike and other factors. We also talk about the average cost of full coverage auto insurance in another article.
Why is motorcycle insurance so cheap?
Motorcycle insurance is so cheap because motorcycles cost less than cars and don’t cause as much damage as cars do in a crash.
What is the cheapest motorcycle insurance?
There’s no single cheapest motorcycle insurance. You should compare different providers in your area to see who has the right combination of benefits and cost for your needs.
How much is liability motorcycle insurance?
Liability only motorcycle generally only costs between $100 and $500 per year, depending on your bike and your driving record.
When does motorcycle insurance go down?
There’s no set time that motorcycle insurance goes down. Your insurance will go down the longer you go without making a claim. There is also insurance for bad drivers if your record is tarnished.
How much is motorcycle insurance for a teenager?
Motorcycle insurance for a teenager can be rather expensive. Expect to pay at least $1500 per year for teen motorcycle insurance.
How to lower motorcycle insurance?
There are lots of ways to lower the cost of your motorcycle insurance. Look for driver training courses and bundling discounts to get the best savings.
Who has the best motorcycle insurance rates?
No one company has the best motorcycle insurance. You should compare different options in your area to determine who has the right insurance package for your needs.
How much is motorcycle trailer insurance?
Motorcycle trailers changes depending on the size and type of trailer you have. There isn’t any average cost listed for motorcycle trailer insurance.
How to get motorcycle insurance cheaper with safety course?
First, make sure the safety course you’re considering is recognized by your insurance company. Once it is, have your class send your paperwork to the insurance company to get your discount.
How do "points" affect motorcycle insurance?
Points make your insurance go up. They are a sign that you are a risky driver, which increases the cost of your insurance.
What is insurance like for a 900cc motorcycle?
It depends, the average cost is about $517, but your price may be higher or lower depending on the state where you live.
What if I can’t afford insurance on a motorcycle?
If you can’t afford insurance on a motorcycle then you need to contact your state’s DMV to determine how your registration will be affected.
What is average insurance for sportster motorcycle?
Motorcycle insurance averages about $517 per year. Sportster insurance will generally be a bit higher because the bikes go faster and are less safe.
How much does motorcycle insurance go up after a claim?
There’s no set amount that your motorcycle insurance will go up after a claim. You’ll need to contact your insurance company about your specific situation.
How to calculate insurance on new motorcycle?
The best way to calculate insurance on a new motorcycle is to use the online tools provided by various insurance companies.
How much more is motorcycle insurance than car?
Motorcycle insurance is usually cheaper than car insurance by a fairly wide margin. In the meantime we did compile a list of the least expensive car insurance companies.
Motorcycle Insurance Claims and Coverage
This section covers the most common questions about motorcycle insurance claims and coverage.
What does full coverage motorcycle insurance cover?
Full coverage on a motorcycle covers damage to your bike, person, or property up to the limits outlined in your policy.
How much motorcycle insurance do I need?
The amount of motorcycle insurance you need is determined by your state’s laws. You can also increase your insurance beyond the state minimums if you want additional coverage.
How to claim motorcycle insurance?
You can file a claim with your motorcycle insurance company online or by calling the agent listed on your insurance card.
What type of motorcycle insurance should I get?
The type of motorcycle insurance you should get depends on your needs. You should talk to an agent or look up more specific questions to answer.
What insurance do I need for a financed motorcycle?
You should check your financing agreement to be sure, but most financing agreements require comprehensive coverage for your vehicle.
What kind of insurance should I get on a motorcycle that I do not use a lot?
You should look for insurance that has a layup period. That way you only pay for insurance during the seasons when you ride your bike.
What insurance covers winter motorcycle riding?
Lots of insurance covers winter riding. You can use an insurance comparison tool to see which companies offer the right product for you.
How much to add a motorcycle to insurance?
The cost to add a motorcycle to your insurance depends on several factors, like your driving record and the type of bike you have.
Which states require SR22 insurance for motorcycles after a DUI?
Motorcycle Insurance Companies
We’ll answer questions about motorcycle insurance companies in this section.
Who has the cheapest motorcycle insurance?
Every company has different prices in different areas. You should check your local offerings to see who’s cheapest for you.
What insurance companies bundle home, auto, and motorcycle insurance?
Many companies offer bundles, such as Progressive, Nationwide, and Allstate.
Where can I get cheap motorcycle insurance?
You can get cheap motorcycle insurance using an online comparison tool to see what rate different companies will offer you. When I needed coverage I simply went to Google and looked for motorcycle insurance near me and found plenty of companies.
How to add motorcycle insurance to Progressive?
You can add motorcycle insurance to your Progressive policy by calling your agent with the number of your insurance card or by logging in online.
Other Motorcycle Insurance Questions
This section covers questions that don’t fit into our other categories. Check here if you can’t find your question elsewhere.
How old for classic motorcycle insurance?
Most companies consider bikes older than 25 years to be eligible for class motorcycle insurance.
Which states require motorcycle insurance?
The only states that don’t require motorcycle insurance are Florida, New Hampshire, Washington, and Montana.
How much does a motorcycle safety course save on insurance?
The savings you get from a motorcycle safety course depends on your driving record, state, and what kind of bike you have.
How to get motorcycle insurance without a license?
It’s going to be hard to get motorcycle insurance without a license. You’ll need to talk to insurance companies directly to understand your options.
When selling a motorcycle, do you need insurance?
You do not need insurance if you are selling a motorcycle.
How much will a motorcycle endorsement affect my insurance?
That depends on lots of different factors. You should talk to your insurance company to see what the impact will be on your rate.
Do you have to have full coverage insurance when financing a motorcycle?
In most cases, yes. Financing companies usually require full coverage for the vehicle that’s financed.
How to tell if motorcycle insurance covers rental cars?
You’ll need to check your policy agreement. You can also call your agent to find out using the number on your insurance card.
How long is motorcycle insurance for?
Most motorcycle insurance terms are for six months.
How to get temp motorcycle insurance for test drive?
You’ll need to contact your insurance company to see about getting one-day insurance if you need insurance for your test drive.
How long do I have to get insurance on a used motorcycle?
It depends on your company’s policies and the state where you live. You should contact your insurance company as soon as possible to make sure you’re driving legally.