Best discounts, plans, and providers for motorcycle insurance
With a wide array of coverage for whatever type of bike you have and the support of Farmers, Foremost is a reliable provider designed for motorcycle enthusiasts.
Compared to the national average annual cost for motorcycle insurance ($519), GEICO’s average cost is about $340, even in more expensive locations.1
Motorcycle insurance works essentially the same way that regular auto insurance does: It covers damages to your vehicle, damages to other people’s property, and injuries in an accident. The process of getting quotes, filing claims, and managing your motorcycle insurance is similar to that of car insurance as well. What is different, however, are the costs, coverage options, and add-ons.
Below we’ll look at motorcycle coverage prices by provider, discounts, bundling options, special offers, and more.
Best Motorcycle Insurance Overall: Foremost
Cheapest Motorcycle Insurance: Geico
Best Liability Motorcycle Insurance: Progressive
Best Motorcycle Insurance for Bundling: Nationwide
Best Motorcycle Insurance for Harley-Davidsons: Safeco
Insurance company | Foremost | GEICO | Progressive | Nationwide | Safeco |
---|---|---|---|---|---|
Average annual rate | N/A | $345 | $704 | $367 | N/A |
Bundling discount | Yes | Yes | Yes | Yes | Yes |
Safety course discount | Yes | Yes | Yes | Yes | Yes (within 3 years) |
Umbrella insurance | No | Yes | Yes | Yes | No |
J.D. Power customer satisfaction index (Southeast) (out of 1,000)2 | Not rated | 853 | 859 | 858 | 845 |
Review & Info | Foremost info | GEICO review | Progressive review | Nationwide review | Safeco info |
Foremost motorcycle insurance was designed for motorcycle enthusiasts who own multiple motorcycle types. It provides coverage for cruisers, dirt bikes, sport bikes, electric bikes, scooters, and trikes. On top of that, Foremost is one of the few providers that offer coverage for vintage and special-edition motorcycles. Its prices vary from state to state and bike to bike, but you can expect to pay around $900 per year on average.
Foremost offers three optional coverage packages to give you extra coverage for any unique needs you may have on the road:
Add-on plan | Saver | Plus | Elite |
---|---|---|---|
Helmet and safety apparel coverage | Yes, up to $500 | Yes, up to $1,500 | Yes, up to, $2,500 |
Available optional equipment (ACV) | Yes | Yes | Yes |
Optional towing and roadside assistance | Yes | Yes | Yes |
First accident forgiveness | Yes | Yes | Yes |
2-year total loss settlement | No | Yes | Yes |
Trip interruption | No | Yes | Yes |
Track day coverage | No | Yes | Yes |
Enhanced rental/permissive use rental | No | No | Yes |
Diminishing deductible | No | No | Yes |
Personal effects at replacement cost | No | No | Yes (up to $2,500) |
Foremost is our top pick for its commitment to providing a wide array of coverage options catered to all motorcycle types. This sentiment is reflected in its unique insurance options that you can integrate with your insurance coverage.
Its four major insurance options are the following:
GEICO is known as being one of the cheapest insurance providers for cars, and that title holds up for motorcycles as well. Motorcycle insurance policies are some of the most volatile in terms of pricing, making it hard to get an accurate estimate without seeking a quote for yourself. GEICO, however, offers motorcycle policies for around $340 annually. With several discounts, bundling options, and the backing of one of the country’s largest providers, GEICO is a great choice if you’re looking for affordable coverage.
It’s important to note that insurance coverage will vary from person to person and state to state depending on your demographics, location, the number of accidents in your area, instances of theft in your area, the chance of natural disasters, and much more.
Even with that in mind, GEICO has maintained its reputation for being one of the cheapest providers of motorcycle insurance. In New York, for example, GEICO’s costs are lower than those of its competitors:
Provider | Average annual cost of motorcycle insurance in New York |
---|---|
GEICO | $345 |
Nationwide | $367 |
Progressive | $704 |
Markel | $861 |
The GEICO mobile app has a rating of 4.8 in the Apple App Store and a 4.7 in Google Play. It makes managing your motorcycle plan easier by allowing you to do the following:
GEICO offers more payment options and flexibility by allowing you to manage your bills at your own pace. While GEICO doesn’t offer any pay-in-full discounts, it is more expensive to pay monthly or over more payment periods because GEICO charges installment fees with each payment plan. You can choose between the following payment plans:
Progressive is an industry leader for both car insurance and motorcycle insurance. Progressive offers liability-only motorcycle insurance for as little as $75 per year. You can also get unique add-ons, customized motorcycle coverages, and benefits that come with every plan, including total loss coverage, a $500 transportation/accommodation allowance if your bike breaks down, and no depreciation for bike parts.
Add a long list of discounts and an A+ Superior rating from AM Best, and you have one of the most reliable and affordable options for motorcycle insurance5.
Progressive has some of the most affordable rates for liability coverage. In fact, you can get motorcycle liability insurance for as little as $75 per year depending on your motorcycle type, demographics, and location. On average, expect to pay around $205 per year for minimum liability coverage with Progressive. All policies, including minimum liability, come with the following:
Whether you have a liability policy, full coverage, or a custom policy, you may want some niche coverage features for your bike. Progressive offers some of the most popular optional motorcycle insurance coverage available to customers, which includes the following:
Progressive has a long list of discounts that can help make your motorcycle coverage more affordable. While Progressive will integrate discounts into your quotes based on the information you provide, you should ask your agent about any additional discounts you may be eligible for.
Some of Progressive’s most notable discounts include the following:
With an average annual cost of $367, Nationwide is one of the more affordable motorcycle insurance providers on our list. On top of affordable rates and solid discounts, you can bundle your motorcycle with your home, car, and other policies. Finally, Nationwide has strong customer satisfaction (858 J.D. Power rating) and financial strength (A+ AM Best rating) scores.
Nationwide has a long list of bundling options that will simplify the way you manage your insurance. Bundling not only simplifies insurance management by placing all of your policies under one roof, but it also opens up to additional savings. Speak to a Nationwide agent to see what kinds of discounts you may be eligible for.
With Nationwide, you can bundle motorcycle insurance with the following types of insurance:
Nationwide’s On Your Side Review is a unique program that’s available to all Nationwide members. It connects you with a Nationwide insurance professional who will guide you and help you create a strategy based on your insurance needs. You can think of it as a personalized renewal program that aligns your life changes with the best insurance options, discounts, and benefits. On Your Side Review agents will help you do the following:
Not all providers offer coverage for vintage bikes, classics, and scooters. With older bikes, your risk goes beyond accidents. You may need replacement parts that are difficult to find and expensive.
Nationwide can get you coverage for vintage bikes and scooters made in 1974 or earlier. Alternatively, you can protect your classic bikes that are 25 years old or older through Nationwide’s partnership with Hagerty.
Safeco is a solid option for motorcycle riders who own cruisers (especially Harley-Davidsons), tour bikes, sports bikes, and super-sport bikes. Along with protecting a number of different bikes and vehicle types, it comes with a long list of additional coverage options and features, including rideshare coverage if you bundle your car, gap insurance, and pet insurance, among others. Its replacement coverage is limited to Harley-Davidson motorcycles, which makes Safeco our top pick if you need coverage for a Harley.
A lot of providers have some form of replacement cost provision if you total your bike and need it replaced. Safeco’s replacement cost program is limited to Harley-Davidson bikes. It will replace your Harley with a similar model if it’s totaled, or it will pay you the actual cash value of your bike in today’s market. This applies only to Harleys that are up to two years old.
Safeco has one of the longest lists of additional coverage options that we’ve seen from any motorcycle insurance provider. On top of liability, comprehensive/collision, and uninsured/underinsured coverage, you have the option to select the following:
Safeco offers a few motorcycle discounts that can help you save on your motorcycle insurance. The rates for these discounts vary from state to state, so be sure to speak with an agent to find out exactly what savings you’re eligible for. Safeco’s four major motorcycle discounts include:
Discount | Eligibility |
---|---|
Claims-free discount | Safeco offers this discount for riders who have been claims-free for over 12 months in your prior term, including if you went claims-free with a different provider. |
Companion policy discount | Safeco’s companion policy discount, sometimes referred to as a multi-policy or bundling discount, can earn you savings if you have another policy of any kind with Safeco. |
Safety course discount | You could be eligible for this discount if you’ve completed an approved safety motorcycle course within the past three years. |
Experienced rider discount | If you’ve been riding motorbikes for several years, you might be eligible for an experienced rider discount. Safeco even offers discounts if you’ve been riding the same bike for several years. |
Because motorcycle prices vary widely from state to state and city to city, we looked at direct price comparisons from within regions/states, available discounts, and the most comprehensive coverage options to put this list together. We also looked at available data from trusted sources like J.D. Power and NADAguides to find you the most reliable information and numbers. To find the best coverage options and plans, we considered proprietary data, recognized studies, and expert institutional guidance.
Motorcycle gap insurance will cover what you owe on a motorcycle loan after your provider covers the damages of a total loss, similar to how car gap insurance works.
We recommend getting full coverage if you can afford it. With full coverage, you’ll get collision, comprehensive, uninsured/underinsured motorist, and personal injury protection on top of liability.
Low-speed motorcycle and scooter insurance is required in the following locations:
A Guide To Understanding The Motorcycle Insurance Costs For an 18 Year Old. J.D. Power. (2022).
https://www.nadaguides.com/Motorcycles/shopping-guides/how-much-is-motorcycle-insurance-for-an-18-year-old
Auto Insurance Rate Hikes Erode Price Satisfaction, Drive Surge in Value Shopping, J.D. Power Finds. J.D. Power. (2022, May).
https://www.jdpower.com/business/press-releases/2022-us-insurance-shopping-study
U.S. Households with a Motorcycle Climbs to Record 8 Percent in 2018. Motorcycle Industry Council. (2019, Jan). https://www.mic.org/#/newsArticle?articleId=2933
Do you need insurance for a moped? Nationwide. (2022). https://www.nationwide.com/lc/resources/powersports/articles/do-you-need-insurance-for-a-moped
AM Best Affirms Credit Ratings of The Progressive Corporation and Subsidiaries. AM Best. (2022, Jan). hhttps://news.ambest.com/presscontent.aspx?altsrc=3&RefNum=31637&URatingId=-1#:~:text=AM%20Best%20has%20affirmed%20the