Best Motorcycle Insurance Companies in 2024

Finding the best motorcycle insurance is essential for every rider, as it provides financial protection in the event of an accident, theft, or damage. This guide is designed for motorcycle owners and riders seeking to compare top insurance providers and make informed decisions about their coverage. With numerous companies offering various coverage options and discounts, it can be challenging to find the right insurance provider for your specific needs. Motorcycle insurance cover can include a range of protections for riders, bikes, and passengers, such as liability, comprehensive, and specialty coverages, so understanding what is included in your policy is crucial. The importance of making an informed decision when choosing a policy cannot be understated, as it ensures that you have peace of mind while enjoying your ride.

In order to evaluate the best motorcycle insurance companies, a few key criteria should be considered. These include the range of coverage options, available discounts, financial strength, and customer satisfaction. By taking into account the experiences of other riders and the reputations of various providers, you can make an informed choice on a company that offers the right balance of value, coverage, and service for your budget and riding style. It's also important to compare motorcycle insurance rates across providers to ensure you are getting affordable coverage that meets your needs.

Consulting personal finance experts or resources can further help riders make informed decisions about their motorcycle insurance options.

Summary: Who Has the Best Motorcycle Insurance?

Here’s a quick answer to the question, “Who has the best motorcycle insurance?” based on the latest facts and industry evaluations:

• Progressive: Often rated as the best motorcycle insurance company overall due to its extensive coverage options and discounts.

• GEICO: Known for its low rates and good customer service, making it a popular choice for motorcycle insurance.

• Dairyland: Recognized for its affordability and is particularly well-suited for custom and modified motorcycles.

• Foremost: Noted for its robust selection of motorcycle coverage and low complaint levels, making it a strong contender in the market.

• American Family: Recognized for having a very low level of complaints and a good variety of motorcycle insurance features.

• State Farm: Recognized for its superior financial strength with an AM Best rating of A++.

Introduction to Motorcycle Insurance

Motorcycle insurance is a specialized type of insurance policy designed to protect motorcycle owners and riders from financial loss in the event of an accident, theft, or other unexpected damages. For motorcycle owners, having the right motorcycle insurance policy is not just a legal requirement in most states—it’s also essential for covering medical expenses, repair costs, and liability if you’re involved in an accident. The best motorcycle insurance companies offer a variety of coverage options, including liability coverage, comprehensive and collision coverage, and valuable add-ons like roadside assistance and rental reimbursement coverage.

Key Coverage Types Defined:

• Bodily injury and property damage liability coverage is the minimum required in most states. This coverage pays for injuries or damages you cause to others in an accident.

• Guest passenger liability coverage pays for medical expenses if you have a passenger and are held liable for an accident.

• Uninsured/underinsured motorist coverage can cover the gap if you're hit by an uninsured or underinsured motorist.

• Custom parts and equipment coverage can be purchased for upgraded parts and accessories on your motorcycle.

• Some policies cover expenses related to repairing or replacing helmets, boots, and other riding gear.

• Roadside assistance coverage can cover the cost of towing, battery charging, or gas delivery.

• Rental reimbursement coverage can reimburse you for the cost of a rental motorcycle while yours is being repaired.

When searching for the best motorcycle insurance, it’s important to consider your unique needs. Factors such as the type of bike you ride, your riding history, and your desired level of protection all play a role in finding the right motorcycle insurance coverage. Whether you’re a daily commuter, a weekend cruiser, or a member of a motorcycle club, the best motorcycle insurance companies can tailor a policy to fit your lifestyle. Comprehensive and collision coverage can help pay for repairs or replacement if your bike is damaged or stolen, while liability coverage protects you if you’re responsible for injuries or property damage. Additional features like rental reimbursement coverage and roadside assistance can provide extra peace of mind on the road.

By understanding your options and comparing policies, you can find a motorcycle insurance policy that offers the right balance of protection, affordability, and service—ensuring you’re covered wherever your ride takes you.

Researching Motorcycle Insurance Companies

It’s crucial to conduct thorough research before selecting a motorcycle insurance provider. Carefully evaluating various factors will help ensure you choose a company that best fits your needs and offers optimal coverage at a competitive price.

When researching motorcycle insurance companies, consider:

• Reputation and financial stability: Check the provider’s financial rating and customer reviews to determine its financial stability and overall reputation for delivering quality service.

• Coverage options: Assess the available coverage options, such as liability, comprehensive, collision, uninsured motorist, and medical payments. Look for a company that offers a wide range of coverage to tailor the policy to your needs.

• Discounts and rewards: Many insurance providers offer discounts and additional benefits for safe riders, multi-policyholders, or by bundling with other insurance products. Look for specific discounts such as a multi vehicle discount, which can help reduce costs if you insure more than one motorcycle or vehicle. Examine the discounts and rewards available to maximize potential savings.

• Customer service and claims process: Look for companies known for their prompt and efficient customer service, and a smooth claims process. A simple and effective claims experience is vital if you ever need to use your insurance.

• Pricing and payment flexibility: Assess the cost of premiums and whether the company offers flexible payment options to fit your budget. Be sure to compare rates from multiple providers to find the best deal for your needs. Price should not be your only consideration, but it’s essential to factor in affordability.

To help get started, here are some highly-rated motorcycle insurance companies based on the search results:

• Foremost

• American Family

• Erie

• Progressive

• Harley-Davidson Insurance

• Safeco

• Allstate

• USAA

• GEICO (GEICO motorcycle insurance is known for its competitive rates and comprehensive coverage options, including specialized coverages and discounts.)

• Markel

Remember, diligently researching motorcycle insurance providers and comparing them based on the factors mentioned above will help you make an informed decision and protect your investment with confidence.

Methodology

To identify the best motorcycle insurance companies, we used a comprehensive and objective evaluation process. Our methodology focused on several key factors that matter most to motorcycle riders: coverage options, customer satisfaction, and affordability. We gathered and analyzed data from trusted industry sources, including J.D. Power and the National Association of Insurance Commissioners, to assess the performance and reputation of top motorcycle insurance companies.

We compared quotes from multiple insurance providers to evaluate pricing and value, and we closely reviewed the features and benefits of each motorcycle insurance policy. Financial strength was also a critical consideration, as it reflects a company’s ability to pay claims reliably. By combining these data points with customer feedback and satisfaction ratings, we created a well-rounded ranking of the best motorcycle insurance companies. This approach ensures that our recommendations reflect not only the best motorcycle insurance coverage options but also the overall experience and reliability offered by each provider.

Criteria for Evaluation

When determining the best motorcycle insurance companies, several key factors are taken into consideration. These factors ensure that the providers chosen excel in delivering comprehensive coverage, competitive pricing, reliable customer service, and long-term financial stability.

Coverage Options

A top motorcycle insurance provider should offer a wide range of coverage options. Liability insurance, including bodily injury and property damage liability, is the minimum required coverage in most states, as most states require motorcycle insurance to cover damages and injuries caused to others in an accident. For riders seeking more complete protection, comprehensive insurance is an important optional coverage that protects against non-collision damages such as theft, fire, vandalism, and natural disasters.

When considering whether motorcycle insurance cover passengers, it's important to note that standard policies may not always include this protection. Guest passenger liability coverage is often available as an add-on and pays for medical expenses if a passenger is injured while riding with you, enhancing overall rider and passenger safety.

Pricing Competitiveness

Affordability is a major consideration when choosing an insurance provider. Comparing annual premiums across different companies and rider profiles helps determine which insurer offers the best value. Some providers may offer discounts for paying annual premiums upfront, making it important to evaluate both monthly and yearly costs.

Coverage Options

The coverage options offered by an insurance provider play a crucial role in the evaluation. Ideally, a leading company should provide a wide range of coverage options to meet the diverse needs of motorcycle riders. These options typically include liability, collision, comprehensive, medical payment, uninsured/underinsured motorist, and accessory coverage.

In addition to these basics, top insurers offer carried contents coverage, equipment coverage, optional equipment coverage (protecting custom motorcycle parts, accessories, helmets, and trailers), replacement cost coverage (which pays for a new or comparable item without deducting depreciation), motorcycle helmet coverage, safety apparel coverage (for helmets, riding suits, boots, and other protective gear), trip interruption coverage (reimbursing expenses if you are stranded far from home), and transport trailer coverage. Custom parts and equipment coverage can be purchased for upgraded parts and accessories on your motorcycle, and some policies cover expenses related to repairing or replacing helmets, boots, and other riding gear.

Custom bikes and sport bikes may require specialized coverage options due to their unique features and higher value. Progressive, for example, offers full replacement cost coverage for parts and covers OEM parts standard. Additionally, standout companies may offer unique options, such as roadside assistance, trip interruption, or custom parts coverage.

Customer Service Quality

An essential aspect of any insurance provider is the quality of customer service. The best companies will have knowledgeable and friendly agents who provide prompt and efficient assistance. Responsiveness to claims, accessibility through multiple communication channels (phone, email, online chat), and overall customer satisfaction ratings are taken into account when evaluating the customer service quality.

Financial Stability

Financial stability is another important factor, as it indicates an insurance company's ability to meet its policyholders' claims. Well-established companies with strong financial ratings demonstrate a high level of reliability. Notable agencies, such as AM Best and Standard & Poor's, provide ratings that can assist in identifying financially stable insurance providers.

Pricing Competitiveness

Lastly, pricing competitiveness is critical for motorcycle riders searching for affordable premiums without sacrificing coverage. The average motorcycle insurance cost is $209 a month, but affordable prices are available from some providers. Leading insurance companies assess risk differently, which can result in rate differences of $200 to $500 annually for the same coverage. Factors such as motorcycle make and model, especially sport bikes and specialty models, rider age, and driving history can significantly influence premium costs. High risk drivers—those with a history of accidents or violations—may face higher premiums but can find specialized coverage options. Increasing your deductible can lower your monthly premiums, and some providers offer a disappearing deductible feature, which can further reduce costs over time. Riders should consider rates from multiple insurers to identify the best value.

By thoroughly evaluating these key criteria, consumers can confidently choose an insurance provider that meets their needs and offers the best overall motorcycle insurance experience.

With these criteria in mind, let's look at how motorcycle insurance costs are determined.

Understanding Motorcycle Insurance Costs

Motorcycle insurance costs can vary widely based on several important factors. The type of motorcycle you ride, your riding history, and the coverage options you select all play a significant role in determining your premium. On average, motorcycle insurance costs around $209 per month, but this amount can range from as low as $100 to over $500 per month depending on your state and personal circumstances.

To secure affordable motorcycle insurance coverage, it’s important to maintain a clean driving record and consider taking a motorcycle safety course, which can often lead to lower premiums. Installing anti-theft devices on your bike is another effective way to reduce insurance costs, as many insurers offer discounts for added security measures. Comparing quotes from multiple providers and exploring different coverage options can help you find the best value for your needs. Don’t forget to ask about available discounts, such as multi-vehicle or homeowner discounts, which can further lower your motorcycle insurance costs. By being proactive and informed, you can find motorcycle insurance coverage that fits your budget while still providing the protection you need.

Next, let's see how your location can impact your motorcycle insurance premiums.

Motorcycle Insurance Costs by State

Where you live has a significant impact on your motorcycle insurance costs. Premiums can differ dramatically from state to state due to factors like population density, accident rates, and local insurance regulations. For example, states such as California and Florida typically have higher average motorcycle insurance costs, reflecting their larger populations and higher rates of accidents and theft. In contrast, states like Wisconsin and Ohio are known for more affordable motorcycle insurance premiums.

It’s important for riders to research the specific motorcycle insurance requirements and average costs in their own state. Understanding these local factors can help you budget more accurately and ensure you have the right level of coverage. By staying informed about your state’s insurance landscape, you can make smarter choices and avoid overpaying for your motorcycle insurance policy.

Now, let's explore how you can save on your motorcycle insurance through discounts.

Motorcycle Insurance Discounts

Taking advantage of motorcycle insurance discounts is one of the best ways to save money on your premiums. Many motorcycle insurance companies offer a variety of discounts to help riders lower their insurance costs. Common options include multi-vehicle discounts for insuring more than one motorcycle or combining your motorcycle policy with auto or home insurance. Completing a safety course, such as one offered by the Motorcycle Safety Foundation, can also earn you a discount, as can installing anti-theft devices on your bike.

Some insurers provide special discounts for members of organizations like the Harley Owners Group, rewarding brand loyalty and community involvement. Bundling your motorcycle insurance with other policies is another effective way to qualify for multi-policy discounts and enjoy more affordable coverage options. By asking your insurance agent about all available discounts and combining as many as possible, you can significantly reduce your motorcycle insurance costs while still enjoying comprehensive protection on the road.

Now that we've covered ways to save, let's review the top motorcycle insurance companies.

Top Motorcycle Insurance Companies

When searching for the best motorcycle insurance, it’s essential to consider various factors such as coverage options, customer service, and discounts. Based on comprehensive research and evaluation, here are some of the top motorcycle insurance companies:

• Markel: Known for catering to hobbyists, offering specialized coverage for motorcycle collectors. While their full-coverage policies might be slightly more expensive, averaging around $39 per month, the company provides a multivehicle discount that can help motorcycle enthusiasts save money.

• Harley-Davidson Insurance: An excellent choice for Harley owners, focusing on providing tailored coverage for Harley-Davidson motorcycles, including unique benefits like custom part coverage and roadside assistance, as well as discount programs specifically for Harley riders.

• Dairyland Insurance: Recognized for its affordability and is particularly well-suited for custom and modified motorcycles, including those that other insurers often refuse to cover. Dairyland specializes in serving high-risk drivers and offers unique coverage options for custom, vintage, and high-performance bikes. Homeowners and members of the Harley Owners Group can also benefit from exclusive discounts.

• Progressive Motorcycle Insurance: Stands out for its flexible coverage options, especially for seasonal riders. It offers policy flexibility during off-season months, full replacement cost coverage for parts, and covers OEM parts as standard.

• Allstate: Ranks high among motorcycle insurance companies, particularly for new and young riders. With its affordable policies and bundling discounts, Allstate can help riders save on coverage costs. Additionally, the company has a well-established reputation in the insurance industry.

Here is a brief comparison of these top insurance companies:

Before selecting a motorcycle insurance company, riders should consider their individual needs and preferences. These top companies offer tailored coverage options and benefits, catering to different types of riders and ensuring suitable coverage at competitive prices.

Next, let's take a closer look at each of these companies in our detailed reviews.

Detailed Reviews

Foremost

Foremost offers a solid range of motorcycle policies, providing everything from liability to comprehensive and collision coverage. They also offer important options like uninsured/underinsured motorist coverage, which can protect you if you're hit by a driver without enough insurance, and rental reimbursement coverage, which can help pay for a rental motorcycle while yours is being repaired. Their pricing is considered competitive in the market, making them an attractive choice for those seeking value and a range of coverage options. Customers have noted Foremost’s prompt claims processing and above-average customer service experience, making it a reliable choice for motorcycle insurance. Note that most states require motorcycle insurance to cover damages and injuries caused to others in an accident, and a motorcycle license or endorsement is typically required to purchase a policy.

American Family

American Family has earned a reputation for having a low level of complaints, reflecting their commitment to customer satisfaction. While their motorcycle policies are fairly standard, they include essential coverages like uninsured/underinsured motorist and rental reimbursement. Their focus on customer service sets them apart from the competition. Pricing for American Family policies is competitive, and they offer several discounts like safe driving, multiple policies, and loyalty discounts. Bundling motorcycle insurance with your car insurance or auto insurance can provide additional savings, but keep in mind that motorcycle insurance is a separate policy from auto insurance.

Erie

Erie excels in collision repair coverage, offering a streamlined process for policyholders who encounter accidents. In addition to their standard motorcycle policies, Erie offers several optional coverages for customizing your policy, including uninsured/underinsured motorist and rental reimbursement coverage. Their pricing is reasonable, and they provide various discounts for insuring multiple vehicles, having a clean driving record, and more. A motorcycle license or endorsement is generally required to obtain coverage.

Progressive

Progressive is renowned for their motorcycle policies tailored to military members and their families. They offer a wide range of coverage options, including uninsured/underinsured motorist and rental reimbursement coverage, and boast a strong customer service reputation. Progressive is known for offering competitive prices and various discounts, such as paid-in-full, responsible driver, and military service discounts. Their Accident Forgiveness program is a standout feature, ensuring premiums won’t increase after your first accident if you have no previous accidents on your record. Bundling your motorcycle insurance with car insurance or auto insurance can also lead to discounts, but motorcycle insurance remains a separate policy.

Safeco

Safeco provides great value for motorcycle enthusiasts, offering extensive motorcycle policies and multiple discounts for policyholders. This insurer is particularly attractive for those who prioritize affordability without sacrificing coverage quality. Safeco offers important coverages like uninsured/underinsured motorist and rental reimbursement. They have built a solid reputation in the industry and are known for their responsive and efficient claim handling process. A motorcycle license or endorsement is typically required to purchase a policy.

Allstate

Allstate caters to both new and young riders, offering tailored motorcycle policies to meet their specific needs. They have several programs such as a new motorcycle replacement and accident forgiveness which help policyholders navigate the insurance world with confidence. Allstate’s competitive pricing and various discounts make it accessible for a diverse range of motorcycle riders. Bundling motorcycle insurance with car insurance or auto insurance can provide additional discounts, but motorcycle insurance is a separate policy. Most states require motorcycle insurance to cover damages and injuries caused to others in an accident, and a motorcycle license or endorsement is usually necessary.

USAA

USAA focuses on serving military members and veterans, and their motorcycle insurance policies reflect this commitment. They offer competitive prices and several discounts, like bundling policies and good driving records. USAA provides important coverages such as uninsured/underinsured motorist and rental reimbursement. Customers appreciate USAA’s excellent customer service and efficient claims process and have reported high levels of satisfaction. Remember, motorcycle insurance is separate from auto insurance, and a motorcycle license or endorsement is typically required.

Markel

Markel is the preferred choice for motorcycle hobbyists and collectors, offering specialized motorcycle policies and multi-vehicle discounts. Although their full coverage policy might be slightly more expensive, they make up for it with tailored plans specific to customers’ needs, including options like uninsured/underinsured motorist and rental reimbursement coverage. Markel’s strong industry reputation and commitment to excellent customer service make it a desirable choice for those with unique coverage needs. A motorcycle license or endorsement is generally required to purchase a policy.

Now that you have a detailed understanding of the top companies, let's discuss how to choose the right insurance company for your needs.

Tips for Choosing the Right Insurance Company

When looking for the best motorcycle insurance company, it’s essential to consider various factors to make an informed decision catered to your needs and preferences. Here are some top tips to help you choose the right insurance company.

Coverage options

• Evaluate the type of coverage offered by different insurance companies and ensure they cater to your requirements. Some companies might have a greater variety of coverage options, such as comprehensive, collision, uninsured/underinsured motorist protection, and optional coverages like guest passenger liability, which protects your passenger in case of an accident.

Customer satisfaction

• Look for companies that have a good reputation for customer service, quick claim responses, and overall client satisfaction. Many companies conduct surveys to rate their performance, so researching how satisfied other customers are with their motorcycle insurance can provide helpful information.

Discounts

• Search for companies that offer discounts or bundle policies to lower your motorcycle insurance premium. Some common discounts include multi-policy, safe rider, and anti-theft device discounts. Taking a motorcycle safety course can also qualify you for additional discounts. Additionally, limiting your annual mileage may help you qualify for low-mileage discounts. Make sure you’re aware of the discounts you’re eligible for so you can take advantage of potential savings.

Financial stability

• A financially strong insurance company can give you peace of mind, as they’re more likely to cover claims without any problems. Look for ratings from independent organizations that assess and rate financial stability, such as A.M. Best and Standard & Poor’s.

Company-specific features

• Some insurance companies might offer unique features that cater to your specific needs. For example, some companies might have better policies for new riders, seasonal riders, or collectors.

Compare quotes

• Obtain a motorcycle insurance quote from several different insurance companies to determine which one offers the best value for the coverage you need. Many providers make it easy to get a free, online motorcycle insurance quote. Don’t forget to evaluate both price and coverage options when comparing quotes.

By taking the time to carefully consider your needs, researching various options, and comparing quotes, you’ll be able to find the motorcycle insurance company that’s best suited for you.

Finally, let's summarize the top picks and why they stand out.

Conclusion

In this article, we have presented information to help you make an informed decision when selecting the best motorcycle insurance provider. It is important to remember that a variety of factors should be taken into consideration while evaluating the ideal insurance company to fit your specific needs.

Some of the top insurance companies for motorcycle coverage include:

• Foremost: Best Overall (robust selection of coverage and low complaint levels – see fact 4)

• American Family: Best for Low Complaints (very low level of complaints and good variety of features – see fact 5)

• Progressive: Best Overall (extensive coverage options and discounts – see fact 1)

• GEICO: Best for Affordability (low rates and good customer service – see fact 2)

• Dairyland: Best for Custom/Modified Bikes (affordability and custom bike coverage – see fact 3)

• State Farm: Best for Financial Strength (superior financial strength with AM Best rating of A++ – see fact 6)

• Markel: Best for Multiple Bikes (specialized coverage for hobbyists and collectors)

• Harley-Davidson: Best for Discounts (tailored coverage and discount programs for Harley owners)

• Safeco: Best for Value (extensive policies and multiple discounts)

• Allstate: Best for New & Young Riders (tailored policies and bundling discounts)

• USAA: Best for Military & Veterans (competitive prices and excellent customer service for military members)

As you evaluate your options, keep in mind the aspects that matter most to you, for example, cost, available discounts, coverage options, customer service, and claim process. Taking the time to compare various companies will assist you in finding a provider that aligns not only with your budget but with your requirements, as well.

Making a knowledgeable and informed decision when choosing a motorcycle insurance provider helps to ensure that you receive the necessary coverage in case you face any unfortunate events while enjoying the freedom of the open road. Remember to review your policy periodically, as changes in life circumstances may impact your insurance requirements, and it's always a good idea to stay informed about the latest offerings in the ever-changing insurance landscape.