I decided to write this article because I myself have a motorcycle and I recently needed to renew my insurance policy. In an effort to save money I did some shopping around and thought I would share my findings with you. I do love my motorcycle and getting insured can be a pain but it doesn't have to be.
Is a Motorcycle Insurance Policy Necessary?
Cruising around on a motorcycle delivers a thrill that is not comparable to anything else on the road. The adrenaline rush that comes with the wind whipping through your hair as you take those corners with ease makes it easy to understand why people become addicted to motorcycle riding.
However, just like an automobile, your motorcycle also needs to be properly insured. A motorcycle insurance policy will protect yourself, your passengers, and your bike. And just as you would shop around and compare policies for your automobile, you will want to exercise the same diligence with motorcycle insurance policy options.
Many automobile insurance companies also offer motorcycle coverage. Depending on the insurer and policy, you may even be able to purchase the coverage as an addition to your standard automobile insurance. It is important to note that different states carry varying degrees of regulations when it comes to motorcycle insurance requirements. While you are shopping around, it is critical to compare prices in your specific state in order to truly understand what your money is getting you.
While it is tempting to just buy the minimum amount of coverage required by your state laws and regulations, you may come to regret this decision to go cheap. While the best motorcycle insurance coverage is defined as being affordable, it should also be comprehensive enough to cover all of your current and potential needs. Although the least expensive policies might satisfy your state's regulations, they may not provide the coverage that you need if you experience an accident or another issue. An insurance policy is worthless if it does not deliver the coverage that you want in your time of need. You want to be able to take to the road with the security of knowing that you are covered in the event of any situation.
It can be overwhelming to sift through all of the various insurance providers and their specific policies in order to find the best coverage for your personal preferences and needs. Here are four of the top insurance companies to consider when looking for coverage for your bike:
OUR TOP PICK
Allstate Motorcycle Insurance
In addition to the standard coverage options, Allstate offers an elevated list of add-ons for your policy. Allstate customers can choose to add on collision and comprehensive coverage along with the ability to also cover any damage to the vehicle transport trailer. This expanded coverage is useful for riders who haul their motorcycle in a trailer.
Safeco Motorcycle Insurance
If you are looking for a variety of ways to apply discounts to your policy, you would be wise to consider Safeco for your motorcycle insurance needs. This insurer has a reputation for offering the industry's highest amount of possible discounts. These discounts range from the common price breaks for bundling with other policies, a safe driving record, and a membership in a motorcycle association. Safeco also boasts discounts that other companies do not offer. For example, Safeco offers a better deal on your policy if you have been riding for at least one year, rewarding you for experience on the bike.
While many insurers allow you to add on emergency roadside assistance at an additional cost to an existing policy, Safeco throws in a host of extended benefits. For example, this company boasts trip interruption coverage to partner with the standard towing and battery benefits. This means that Safeco will pick up the tab if your trip is interrupted due to a motorcycle breakdown.
Liberty Mutual Motorcycle Insurance
The wide array of safety discounts make Liberty Mutual a good choice for cautious riders who want to be compensated for their commitment to safe driving. Riders who complete motorcycle safety course are eligible to apply for discounts to their premiums. Liberty Mutual policyholders may also receive breaks for installing anti-theft devices and anti-lock brakes to their bike. The patented Liberty Mutual's accident forgiveness program keeps your premiums locked in after your first accident.
Liberty Mutual also shines with its comprehensive bike replacement coverage. The popular Better Bike Replacement program delivers money for a new bike that is both one model year newer and with 2,500 fewer miles than the old bike. New Bike Replacement Coverage covers you if your bike is lost or damaged within its first year by paying for a new motorcycle with no depreciation costs.
Nationwide Motorcycle Insurance
When it comes to Nationwide, it pays to take the time to experiment with a few different levels of coverage. Compared to all other major insurers, Nationwide offers the most affordable upgrade options. This makes it more feasible to add additional coverage to your policy above and beyond the standard offerings without breaking the bank. Sometimes it is only a few dollars more to boost your coverage to some of the highest limits in the industry.
Because of this affordable customization, Nationwide comes in with the cheapest policies
for high-risk riders. If you are young, inexperienced, or riding a bike that is costlier to insure, it is likely that Nationwide will deliver the best coverage at the lowest rates.
Other benefits of Nationwide include its user-intuitive website, mobile apps that make it easier than ever to make a claim, and a simple search tool to help you find the best pricing model for your needs. Nationwide also boasts a standard $2,000 of insurance coverage for personal items that you keep on your bike. This covers a variety of items such as safety tools and equipment and luggage.
Types of Coverage
In order to effectively determine the best insurer for your personal coverage needs, you need to be informed about the different types of coverage. Understanding the technical terms and the varying levels of coverage will help you to be able to better research and compare your options so that you can pick the best policy. Here are five essential types of coverage:
This type of coverage is what you will dip into if your bike is damaged in an accident. Collision coverage is the backbone of any vehicle insurance policy with the big variable coming in with the deductible amount. While a higher deductible will yield a lower monthly payment, you will pay for it if are you involved in a collision.
Many people choose to skimp on liability coverage but end up paying for it if they cause an accident. This type of coverage is defined as the amount that the insurer will give to the other party if you are at fault in a collision. Without the proper coverage, you could be the subject of a lawsuit, causing you far more headaches and money down the road. Most industry experts recommend buying as much liability coverage as you can possibly afford.
This umbrella coverage provides monetary compensation for losses or damage that are not the result of a collision. Examples of issues that fall under this coverage include damage at the hands of a natural disaster or theft. Like collision coverage, your premium will be largely dependent on the deductible amount that you choose. A solid comprehensive coverage policy will give you peace of mind every time you hit the open road on your motorcycle.
It is no secret that bike riding is a risky venture. You do not want to take a chance on having to deal with soaring medical bills just to be able to feed your passion for riding bikes. A quality medical coverage insurance policy will help you to fill in the gaps in the unfortunate situation of being injured in a motorcycle accident. While straight medical coverage will not cover lost wages, Personal Injury Protection (PIP) policies will cover these losses. This comprehensive coverage will bridge the gap in what your health insurance will not cover by paying for copays and deductibles. This coverage kicks in regardless of who is at fault in the accident.
Uninsured/Underinsured Motorist Coverage
UM/UIM coverage is especially important in states that have low liability regulations. This is because this type of coverage is drawn upon if you get in an accident with somebody who does not have enough coverage to pay for your repairs and possible medical bills. This coverage protects your own personal finances if an underinsured biker is at fault. It is critical that you check with your specific state's liability requirements when deciding how much coverage to purchase. You do not want to put yourself in a situation where you are on the hook for any injuries or losses incurred by an accident that was not your fault.
As with all types of insurance policies, it pays to shop around. Not only do you want to ensure that you are getting the best prices, but you also need to be certain that your coverage is suitable for your needs and level of personal comfort. While online searches are a good place to start in your search for the best policy, they do not always tell the whole picture. Because coverage regulations vary by state, it is important to consult directly with an agent to get the most current information and prices.
General Motorcycle Insurance Questions
This section covers your basic questions about motorcycle insurance. Use this section to get a good foundation to help you understand more complex questions.
Do you have to have motorcycle insurance?
With three exceptions, every state in the country requires that you have insurance to operate a motorcycle.
Do I need a motorcycle license to get insurance?
That depends on the laws specific to your state. In most cases, yes, you’ll need a license to get insurance for a motorcycle.
How to get cheap motorcycle insurance?
The best way to get cheap motorcycle insurance is to use online insurance search tools to help you find the best rate. Each state has its own regulations, so there’s no one best way to get cheap motorcycle insurance. Also the best auto and home insurance companies will give you discounts for bundling multiple policies of different kinds of insurance.
Can I ride a motorcycle without insurance?
You can ride a motorcycle without insurance in the states of Florida, Montana, and Washington only.
What is considered full coverage motorcycle insurance?
Full coverage for motorcycle insurance is comprehensive coverage. This covers property, injury, and death up to your policy limit, as well as protecting your bike from damage.
Can you get 6-month motorcycle insurance?
Yes, most insurance companies that offer motorcycle insurance will offer you a 6-month policy if you need it.
How long does it take to get motorcycle insurance?
That depends on the rules and regulations in the state you live. You’ll need to ask a local insurance agent to get more information.
What do you need to insure a motorcycle?
Each state has its own guidelines on what you need to get motorcycle insurance. These requirements generally include a motorcycle license and proof of ownership.
What type of motorcycle insurance should I get?
That depends on your needs. If you want to protect your bike in situations that don’t involve collisions, then you’ll want comprehensive coverage. If you just want to protect yourself from at-fault accidents, then liability coverage is right for you.
How much motorcycle insurance coverage do I need?
That depends on your specific situation. Each state has their own minimum limit requirements for motorcycle insurance, and you may need a comprehensive policy if you’re financing your motorcycle.
Do you need insurance to buy a motorcycle?
You should understand the cost of motorcycle insurance before you buy a motorcycle, but you don’t need insurance before you buy, as the insurance policy is based on the specific bike you purchase.
What kind of motorcycle insurance do I need?
The best type of motorcycle insurance for you depends on your specific situation. If you’re still paying off your bike, then you’ll need to have comprehensive coverage.
State-Specific Motorcycle Insurance Questions
This section will cover the most popular state-specific motorcycle insurance questions.
Do you need motorcycle insurance in Florida?
No, Florida is one of three states that doesn’t require you to have motorcycle insurance to operate a motorcycle.
How much is motorcycle insurance in California?
That depends on your situation. If your bike is still being financed, then the average cost is about $1,940 per year. IF you just want liability insurance, then expect to pay about $209 per year.
Do you have to have motorcycle insurance in Texas?
Yes, Texas is one of the 47 states that requires insurance to operate a motorcycle.
How much is motorcycle insurance in NY?
The cost of motorcycle insurance in NY depends on where you live. The average cost in the city is $1,486, which is almost twice as much as it is in the rest of the state.
How much is motorcycle insurance in Michigan?
Bikers in Michigan pay an average of $100 to $500 per year for motorcycle insurance on a full-owned vehicle.
Is motorcycle insurance required in Washington state?
No, Washington is one of three states that don’t require you to obtain insurance to operate a motorcycle.
How much is motorcycle insurance in PA?
On average, it costs about $512 per year to insure a motorcycle in the state of PA.
How much does motorcycle insurance cost in Texas?
The average cost of motorcycle insurance in Texas is about $749 per year, which is 44% higher than the national average.
How much is motorcycle insurance in Illinois?
Illinois residents pay an average of $533 per year for motorcycle insurance, which is 3% higher than the national average.
Is motorcycle insurance required in Virginia?
Yes, Virginia is one of the 47 states in the country that require you to have insurance to legally operate a motorcycle.
How much is motorcycle insurance in Arizona?
Arizona residents pay, on average, 30% more than the rest of the country for motorcycle insurance, about $673 per year.
How much is motorcycle insurance in CT?
CT is actually one of the cheapest states when it comes to motorcycle insurance. Residents pay an average of $389 per year.
How much does motorcycle insurance cost in Massachusetts?
People in Massachusetts pay an average of $605 per year for motorcycle insurance, which is about 17% higher than the rest of the country.
How much is motorcycle insurance in Oregon?
Motorcycle riders in Oregon pay about $501 per year for motorcycle insurance – 3% less than the national average.
How much is motorcycle insurance in Ohio?
Ohio riders pay about 12% less than the national average for motorcycle insurance, about $457 per year.
How much is motorcycle insurance in Virginia?
Riding a motorcycle in Virginia will cost about $470 per year for insurance. That’s 9% less than the national average.
How much is motorcycle insurance in Georgia?
Georgia motorcycle insurance will cost an average rider about $556 per year, which is about 7% higher than the national average.
What states do not require motorcycle insurance?
There are three states that don’t require motorcycle insurance, Florida, Montana, and Washington.
Motorcycle Insurance Prices
We’ll answer your most common questions about motorcycle insurance prices in this section.
Why is my motorcycle insurance so high?
There are lots of reasons your motorcycle insurance is so high. The most likely reason is that you’re financing your motorcycle, which dramatically increases the cost.
How much does motorcycle insurance cost?
That depends on lots of factors, like your driving record, where you live, what kind of motorcycle you have, and so on. The national average for motorcycle insurance is $519 per year.
Who has the cheapest motorcycle insurance?
The cheapest motorcycle insurance can change based on your driving record and the state you live in. You should use an internet insurance search tool to find the best rates for your situation.
How much is motorcycle insurance on average?
The national average price for motorcycle insurance is about $519 dollars.
How much is motorcycle insurance for a 24-year-old?
There are lots of different factors that go into this. Depending on your driving record, coverage level, and type of motorcycle, you can be looking at $1,000 – $3,000 per year for insurance.
How expensive is motorcycle insurance for an 18-year-old?
18-year olds will have a problem finding motorcycle insurance for less than $1,000 per year and should expect to pay up to $3,000 per year, depending on other factors.
How much is insurance for a 17-year-old motorcycle?
17-year-old drivers will find themselves in the same situation as other teen motorcycle drivers. Expect to pay at least $1,000 for motorcycle insurance.
How much is motorcycle insurance for a 16-year-old?
16-year olds will pay at least $1,000 per year for motorcycle insurance and can pay as much as $3,000.
How much is motorcycle insurance for a teenager?
Teenagers will face a high cost for motorcycle insurance, no matter where they live or what kind of bike they ride. Expect something in the $1,000 to $3,000 range per year for teens.
How much is motorcycle insurance full coverage?
That depends on the state you live in and your driving record. The best way to get an accurate estimate of your motorcycle costs is to use an internet insurance search tool.
Why is motorcycle insurance so expensive?
Motorcycle insurance is so expensive because, statistically, motorcycles are involved in more crashes and the crashes produce more severe injuries, requiring higher medical costs.
Where to get cheap motorcycle insurance?
The best place to get cheap motorcycle insurance depends on the state you live in, the bike you ride, your driving and credit records, and more. An internet search tool can help you find the best motorcycle insurance for you.
Is motorcycle insurance more than car insurance?
No in most cases, but it can be. The average annual cost of motorcycle insurance is well below the average annual cost of car insurance, but if you’re financing your bike or have a bad driving record, then the costs can be extremely high.
How much is comprehensive motorcycle insurance?
The average national cost for comprehensive motorcycle insurance policies comes out to about $519 per year.
How much is liability insurance for a motorcycle?
Liability insurance for a motorcycle can have a huge price range. It depends on your driving record, state, and other factors.
Who has the best motorcycle insurance rates?
There’s no one company that always provides the best motorcycle insurance rates. You should search for motorcycle insurance rates using your address and driving record so you can get accurate estimates of the cost of insurance for you.
Other Motorcycle Insurance Questions
This section answers your questions about motorcycle insurance that don’t fit into our other categories. If you can’t find your question, then this is a good place to look.
How to get motorcycle insurance without a license?
You’ll need to find an insurance company that is willing to insure a motorcycle when you don’t have a license. This is a question of what an individual company is willing to do, rather than one of law.
What does full coverage motorcycle insurance cover?
That depends on the exact terms of your motorcycle insurance policy. Generally, you’ll be covered for damages from at-fault and no-fault accidents. Your bike may also be protected from damage that doesn’t come from an accident.
What insurance limits to get for motorcycle?
That depends on your state and your particular financial situation. You should carefully consider the damage you can do and your ability to pay when picking your insurance limits.
Who has the lowest motorcycle insurance rates?
The company with the lowest motorcycle insurance rates changes for everyone, as each company uses different methods to come up with their rates. Progressive and Geico are generally good but may not be the best options where you live. They offer some of the best home insurance and other insurance types if you're shopping for those too.
Can you insure a motorcycle with a permit?
That depends on the insurance company’s particular policies. Each company sets the rules about who it will insure.
Does motorcycle insurance cover medical bills?
In many cases, yes. However, it depends on the way your specific policy is set up. You should contact an insurance agent for more information.
Does my motorcycle insurance cover me to drive a car?
Not in most cases. The car you’re driving will need to be insured separately or in addition to your motorcycle.
How to get motorcycle insurance without a motorcycle?
It will be hard to get motorcycle insurance without a motorcycle, as the insurance policy is tied to a specific bike.
Does motorcycle insurance cover tires?
Tires are likely only covered in the event you need to use roadside assitance if that is a part of your policy. In the meantime you can find cheap wholesale tires online if you're needing new ones.