Best Motorcycle Insurance of 2023

GEICO is known as one of the cheapest insurance providers for cars, and that title holds up for motorcycles as well. Motorcycle insurance rates vary drastically from state to state and rider to rider, 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 motorcycle coverage.

Rates You Can Afford

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 as one of the cheapest providers of motorcycle insurance. Here’s how GEICO compares to its competitors.

This data was collected in the state of New York, which has more motorcyclists than any other state in the U.S.

Stay Insured in the Offseason

Not all providers offer insurance in the “motorcycle offseason” – the winter months when most motorcyclists keep their bikes stored in the garage. However, GEICO allows you to maintain your insurance through the winter months or for extended periods when you don’t plan on riding your bike.

Even if you plan on taking a lapse from riding your bike, there are still several ways your motorcycle might get damaged. Here are a few things motorcycle insurance in the offseason will cover:

• Theft
• Vandalism
• Flooding
• Fires
• Other natural disasters

Motorcycle Safety Foundation Member Benefits

GEICO is a great option if you’re a Motorcycle Safety Foundation (MSF) member or if you’re thinking about becoming an MSF member. The MSF is a not-for-profit organization dedicated to providing world-class motorcycle education to riders of all experience levels.

MSF motorcycle instructors can earn up to 20 percent off their policy with GEICO, and other riders can earn up to 10 percent off their policy by completing an MSF safety course.

Foremost motorcycle insurance was designed for motorcycle enthusiasts with 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 specialized 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.

Specialty Motorcycle Coverage

Foremost is our top pick for its commitment to providing a wide array of coverage options catered to all motorcycle types, including specialty bikes. This sentiment is reflected in its unique insurance options that you can integrate with your insurance coverage.

Here are its four major insurance options:

• Liability Only: Liability coverage, towing and roadside assistance, and first accident forgiveness
• Low-Speed & Low-Speed Elite: Insurance for low-speed motorbikes, scooters, and electric vehicles
• Custom & Custom Elite: Coverage for unique and limited-edition bikes or those with $30,000 or more in custom equipment
• Vintage & Vintage Elite: Extra protection for vintage and classic motorcycles 25 years or older, as long as bikes are maintained or have been restored to their original condition

Package Coverage Add-ons

Foremost offers three optional coverage packages to give you extra coverage for any unique needs you may have on the road with your bike:

Discounts for Motorcycle Riders

Foremost offers several discount opportunities for motorcycle riders. Talk to your agent to see if you qualify for any of the following discounts:

• Additional $500 in medical payments coverage for wearing a helmet
• Safety equipment discount
• $500 comprehensive deductible waiver for installing a theft recovery device
• Safe rider discount for completing motorcycle defensive driving and safety courses
• Discount if you belong to an affinity organization, such as AARP
• Motorcycle endorsement discount
• Multi-policy discount, including any insurance policy you already have with Farmers
• Multi-bike discount
• Policy renewal discount

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; that’s only $6.25 a month. 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 insurance.⁵

Affordable Liability Policies

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:

• Full replacement cost and no-cost depreciation for parts
• $3,000 in coverage for accessories and custom parts/equipment (or up to $30,000 if you want to add extra coverage)
• Guaranteed original equipment manufacturer (OEM) parts for repairs

Extra Coverage

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:

• Total loss coverage for a motorcycle up to two years old
• Roadside assistance and trip interruption coverage if your bike is disabled anywhere in the U.S. or Canada
• Carried contents coverage, which covers personal belongings (phones, hunting gear, etc.) if they’re damaged due to a covered loss
• Enhanced injury protection, which grants you up to $250 every week for two years if you’re injured in an accident and can’t work

Robust Discounts

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:

• Multi-policy discount when you bundle your motorcycle with your home, car, boat, or RV
• 25 percent off your deductible for every claim-free period (deductible can reach $0)
• Harley Owners Group and USAA membership discount
• Pay-in-full discount
• Pay-on-time discount
• Automated billing discount
• Safety course rider discount
• Safe driver discount (eligible for those with no accidents or violations in the past three years)

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.

Great Bundling Policies

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:

• Home
• Auto
• Life
• Boat
• ATV
• Snowmobile
• Scooter

Riders With Multiple Motorcycles

If you collect bikes, have culled together old bikes over the years, or have a big family of riders, you’ll need an insurance policy that can support several motorcycles. With Nationwide, you can insure up to 12 motorcycles, with $50,000 in coverage per bike. On top of that, you can gain additional coverage for any of your bikes with custom parts or motorcycle trailers.

Vintage Motorcycle and Scooter Insurance

Not all providers offer coverage for vintage bikes, classics, and scooters. With older bikes, your risk goes beyond accidents. You may need to replace old parts that are expensive and difficult to find.

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 replacement cost provision (available only for Harleys), OEM parts replacement, and 24-hour roadside assistance.

Harley-Davidson Replacement Cost Provision

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.

Additional Motorcycle Coverage

Safeco offers a number of coverage add-ons that either already come with a standard policy or can be added as optional coverage. Find the full list below.

Safeco Motorcycle Discounts

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: