Best Motorcycle Insurance Coverage (2021 Update)

GEICO and Progressive are the best motorcycle insurance companies with the best motorcycle insurance coverages, but you'll find the cheapest motorcycle insurance coverage when you compare multiple motorcycle insurance quotes online. Your driving record will influence your motorcycle insurance costs, so enter your ZIP code below to find affordable motorcycle insurance rates in your area.

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Zaneta Wood, Ed.S. has over 15 years of experience in research and technical writing bringing a keen understanding of data analysis and information synthesis to reach a wide variety of audiences. She studied adult education and instructional technology at Appalachian State University as well as technical and professional communication at East Carolina University. Zaneta has prepared technical p...

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Joel Ohman is the CEO of a private equity backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Jo...

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Reviewed by Joel Ohman
Founder & CFP®

UPDATED: Jun 12, 2021

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Here's what you need to know...

  • If you are in the market to purchase your first motorcycle, you should do your homework on insurance costs before visiting the dealership
  • Rates will vary depending on the amount of coverage you desire, your make and model of motorcycle, and your personal information that is used to determine what type of driver you are
  • Insurance companies use several factors for determining your rate for motorcycle insurance similar to car insurance.

If you are considering the purchase of a motorcycle, you’ll need to figure out how you plan to insure the bike. While some considerations for motorcycle insurance mirror the considerations for car insurance, motorcyclists also have their own unique set of needs.

So, who are the best motorcycle insurance companies? The search starts, it seems with regular car insurance companies. But there is no definitive answer or setlist to answer the question, “Does my car insurance company cover my motorcycle?

But one of the ways to find the best car insurance or motorcycle insurance rates is to compare car insurance companies. Then you can find the best quote in addition to which coverages you want.

These may include the big names like State Farm, Geico, USAA, Allstate, Progressive, SafeCo, and more, or smaller boutique motorcycle insurance shops.

You can also jump right in and get a motorcycle insurance quote by entering your ZIP code into our FREE online quote comparison tool. It’ll give you the best rates for your area based on your demographic information.

Now, onto the best motorcycle insurance companies.

The Best Motorcycle Insurance Companies for New Riders

If you are in the market to purchase your first motorcycle, you should do your homework on insurance costs before visiting the dealership. Different companies will offer different rates at different times.

Rates will vary depending on the amount of coverage you desire, your make and model of motorcycle, and your personal information that is used to determine what type of driver you are.

The insurance company that was best for your neighbor with the Japanese made racing bike may not be the best company for you and your older model Harley Davidson.

A good starting place is to speak with people you know who have similar motorcycles to the one you plan to purchase. If you don’t know anyone with a motorcycle visit online forums and ask questions of other riders.

Next, obtain a list of free online quotes from several different companies and begin comparing the policies they offer and the price for each policy.

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The Subjectivity of the Best Motorcycle Insurance Companies

These lists are subjective because they aren’t based on market studies. Instead, they are ranked based on what the person making the list thinks is important.

For example, if someone making a list of the best motorcycle insurance companies considers only the price as determining which was the best, then they might rank Geico as the best motorcycle insurance company.

However, many people don’t like Geico because the company often quotes you one amount and then charges you another because it gives you a quote that isn’t based on all of the necessary information.

The bottom line is that when you see a list, you aren’t seeing an official list; you are seeing something based on opinion. Even insurance information specialists like the Insurance Information Institute (III) don’t offer actual lists of the best insurers.

Factors that Determine Your Motorcycle Insurance Rates

Insurance companies use several factors for determining your rate for motorcycle insurance similar to car insurance. The type of motorcycle you plan to buy is a major factor in determining the cost of insurance.

Newer, sportier bikes will cost you more than older, more conservative models because more people ride the sporty bikes fast, or in a riskier driving manner.

That kind of driving behavior can have a bad long-term impact on your car insurance rates as well, especially if you are involved in accidents related to risky driving behavior.

You might be labeled a high-risk driver and forced to search for high-risk car insurance coverage, which costs a great deal more than regular insurance.

Also, several factors will impact the amount you pay for insurance including your age, driving record, credit rating, and gender.

How to Keep Motorcycle Insurance Costs Down

As with car insurance, making sure that you have the best safety devices on your motorcycle will help to keep your costs down. In addition, choosing to drive with a motorcycle helmet and safety gear will help your costs as well.

Most insurance companies offer a 20 percent discount to motorcycle drivers who take classes to learn how to drive a motorcycle safely, as well as a defensive driving course. You should also ask your insurer about any discounts that it offers to motorcyclists.

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The Cheapest Motorcycle Insurance Companies

Even if your finances are tight, it does not mean you cannot afford insurance for the motorcycle you have always wanted.  Firstly, you can reduce your annual premium by opting for a higher deductible.

You are taking a chance that you will owe more money out of pocket if your bike is damaged, but you may be willing to take that chance if you need to lower your upfront costs.

You may also be able to get a discount if you are a member of a motorcycle organization such as the Gold Wing Road Riders Association, American Motorcycle Association, or Harley Owners Group.

You may also receive discounts for taking a motorcycle safety course such as those offered through state departments of motor vehicles or the course offered by the Motorcycle Safety Foundation (MSF).

Motorcyclists pay extra for guest passenger coverage as opposed to other vehicle policies that automatically cover passengers. If you plan to have others ride on your bike you need this added protection.

Frequently Asked Questions: Motorcycles & Insurance

Now that we’ve covered some topics related to motorcycle insurance, let’s get to your frequently asked questions. We’ll cover the cheapest motorcycle insurance company for full coverage insurance, are bikes cheaper to insure than cars, and more.

#1 – Who has the best motorcycle insurance?

The insurance company with the best motorcycle insurance is a personal preference depending on your needs as a motorcycle owner. There are insurance companies with cheap motorcycle insurance, better coverages, better claims processes, and more.

#2 – Who has the cheapest full coverage motorcycle insurance?

Progressive is often cited as having the cheapest full coverage motorcycle insurance, though you may find lower prices at boutique car insurance agencies that specialize in motorcycle insurance.

#3 – What motorcycle has the cheapest insurance?

Generally, lightweight motorcycles are the cheapest to insure because they have smaller engines and have less peak speed than some other motorcycles.

#4 – How much should I pay for motorcycle insurance?

A great deal depends on your insurance needs, the bike you have, the state, and your demographic information and driving history. If you have a relatively inexpensive or older bike, you might not want full coverage, for instance, which would affect your motorcycle insurance rates.

#5 – Are older motorcycles cheaper to insure?

Yes, generally, older motorcycles are cheaper to insure because their engines are not as technologically advanced as newer models, meaning they will drive slower, reducing risk.

#6 – Should you get full coverage on a motorcycle?

If your motorcycle is worth quite a bit, getting full coverage (liability, collision, and comprehensive insurances) is a good option. But if you have a motorcycle that isn’t worth much, you may end up paying more in full coverage premiums than you would pay out-of-pocket if you need to repair your motorcycle.

#7 – Why is motorcycle insurance so high?

Motorcycle insurance can be high because motorcycles are inherently more risky to drive than cars, with higher injury and fatality rates. These situations cause motorcycle insurance companies to lose money.

#8 – Is bike insurance cheaper than car insurance?

Yes, due to the collision and comprehensive losses. A car, if severely damaged, may take 10s of thousands to repair, while a severely damaged bike might be less costly to repair.

Finding the Best Motorcycle Insurance Rate Possible

The bottom line is to do your homework, know what you need, what you can afford, and what you should look at carefully in each policy. Once you have examined a list of quotes, speak more in-depth with an agent, and you will be able to find the best motorcycle insurance company for you.

Are you ready to start researching motorcycle insurance companies? Plug in your ZIP code into our FREE online quote generator to receive the best motorcycle insurance rates in your area based on your demographic information.

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