The Motorcycle Insurance Guide of 2022

August 12, 2021
By Michael Padway

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Motorcycle Insurance Guide

In the United States the number of motorcycle owners has increased in recent years. This is because they prefer this means of transport as it is faster and more accessible to travel. People use motorcycles for short trips and long caravans throughout the country.

Insuring your motorcycle in the USA keeps you supported against any type of unexpected event.

Not having adequate protection puts your heritage and even that of other people at risk. Motorcycle insurance allows both you and your motorcycle to be covered against any accident. You can even protect yourself against damage to third parties.

Comparing Motorcycle Insurance

Just like most other insurance coverage, the price you’re looking at paying is based on a variety of factors. If you’re insuring an extravagant motorcycle, your premiums are going to be much higher than if you’re insuring a budget moped. Insurance premiums will also be higher if you’re riding your bike year-round in the city than if you were to be riding it seasonally in a rural area.

The first thing you need to do is determine your relevant, personal factors, and then start your quote comparison process. Explore all of your options when acquiring quotes and make sure to compare precisely what coverages you need. We’ll help you with that below.

The Breakdown

Progressive Insurance

Best Overall

Insurance Comparison Quote

The Positive

  • Easy customer process
  • Discount variety
  • Smooth, speedy claims
  • Snapshot program rewards

The Negative

  • Discounts aren’t available in all states
  • Average consumer rating overall

 

Geico Insurance

Best for Affordability

Insurance Comparison Quote

The Positive

  • A wide range of incentives/discounts
  • The average rate is 19.11% lower than the national average
  • Numerous awards/accolades

The Negative

  • Average customer-service ratings
  • Bundling is often with third-party companies

Best for Bundling Coverage

The Positive

  • More accommodating to high-risk riders
  • A wide variety of different products making bundling easy
  • Numerous awards/accolades for the work environment, and corporate equality

The Negative

  • Customer satisfaction ratings are below the national average
  • Fewer add-on options than many other companies
StateFarm Insurance

Best for Drivers With Good History/Credit

Insurance Comparison Quote

State Farm is one of the most well-known and established auto insurance companies in the US. More Americans choose State Farm for their auto insurance than any other company. But are they the best? BBB Ratings

The Positive

  • Financial stability
  • Rates are below the national average in most states
  • Bundling accommodations

The Negative

  • Doesn’t accommodate poor credit as well as others
  • Doesn’t accommodate poor riding record as well as others
Foremost Insurance

Need Motorcycle Insurance?

Enjoy your ride while feeling safe with the best insurance coverage.

Best for Customized Bikes

Insurance Comparison Quote

A part of the Farmers Insurance Group, Foremost Insurance is one of the bigger providers of specialty insurance products in the US. BBB Ratings

The Positive

  • High coverage for customized equipment
  • High coverage for safety apparel (helmets, goggles, etc)
  • Offers discounts for Farmers policyholders

The Negative

  • Online quoting options based on product/location
  • Doesn’t offer insurance in Hawaii and Massachusetts
Farmers Insurance

Best for the Accident Prone

Insurance Comparison Quote

Farmers Insurance Exchange, founded in 1928, is one of the well-known insurance giants in the industry. Originally started to provide only auto insurance, Farmers now offers a variety of different coverages through several companies. BBB Ratings

The Positive

  • Good policies for custom/vintage bikes
  • Bundling accommodations
  • High claim satisfaction ratings

The Negative

  • Coverage options not consistent in every region
  • A limited selection of add-ons
AllState Insurance

Best for Young Riders

Insurance Comparison Quote

Allstate, a name that you likely have heard many times over the years through their effective marketing campaigns and branded slogan. Are you in good hands? BBB Ratings

The Positive

  • Drivewise app rewards for safe riding
  • Comprehensive coverage and a streamlined quote process
  • Good for young drivers: first-accident waiver

The Negative

  • Rates are above the national average in most states
  • Online quotes can lead to sales calls from agents
USAA Insurance

Best for Military Members

Insurance Comparison Quote

USAA has been consistently ranked as one of the best auto insurance companies. The caveat here is that you need to be eligible for a USAA membership. If you’re eligible then USAA’s coverage and rates will be difficult to beat. BBB Ratings

The Positive

  • One of the all-around highest rated insurance companies
  • Great rates
  • High customer satisfaction ratings

The Negative

Markel Insurance

Best for Specialty Coverage

Insurance Comparison Quote

Markel Corporation is a holding company for several insurance companies that deal with a variety of specialty insurance. Markel should be a consideration if you’re in need of specialty insurance. BBB Ratings

The Positive

  • Specializes in specialty vehicles (motorcycles, ATVs, trikes)
  • Unique, accommodating policies
  • 19 years of continuous BBB accreditation

The Negative

  • No online quotes
  • Critical customer reviews
Safeco Insurance

Best for Harley Davidson Owners

Insurance Comparison Quote

Safeco is unique in that it primarily runs through a network of independent insurance agents and agencies who are licensed and appointed to sell their products. BBB Ratings

The Positive

  • Discount variety
  • Comprehensive coverage
  • Offers two-year replacement cost coverage on new Harley bikes

The Negative

  • Expensive (Safeco has been compared at almost 20% above the national average for auto insurance)
  • You can’t purchase over the phone or online. You’ll have to speak to a representative directly to finalize any policies
Auto Owners Insurance

Best for Client Attention From Agents

Insurance Comparison Quote

Auto-Owners is a mutual insurance company (like Safeco) where all products are sold by independent agents. Auto-Owners write policies in 26 states. BBB Ratings

The Positive

  • Great customer service and satisfaction rating through local agents
  • TrueRide app captures real-time data to offer significant discounts for safe riding
  • Known for bundling coverage well

The Negative

  • Generally more expensive due to being an independent agent company
  • Their online system lacking (no live chat, no online quoting system, no claim file online)
  • They only operate in 26 States

Do you need motorcycle insurance?

Yes. The answer is always yes. The majority of the US makes it mandatory by law to have insurance on your motorcycle, but regardless of the law, it’s still the right decision to have insurance. From 2016 to 2017, passenger car fatality rates averaged at 10% per 100,000 registered vehicles. Motorcyclists are at an average of 60%. Get insurance

How much does motorcycle insurance cost?

There’s no one-size-fits-all approach to this question. Insurance costs will depend on a variety of factors, including your state’s minimum liability requirements. The best way to approach this is to become more familiar with the common types of coverage so you can decide what exactly you need.

What’s the cheapest motorcycle insurance?

Once again, there’s no simple answer to this question. In short, the cheapest motorcycle insurance is going to be the policy that suits you the best as an individual. Grab a quote, shop around, and compare rates to find the best fit.

How can I lower my insurance rates?

Here are some standard rate deductions for you to consider:

  • Clean riding record
  • Bundling (Purchasing multiple policies, insuring more than one motorcycle, purchasing numerous types of insurance, etc.)
  • Completing motorcycle training courses
  • Membership to a motorcycle rider’s organization
  • Paying your policy in full

Do you have to have a driver’s license to get motorcycle insurance?

Generally speaking, in most of the United States, you must possess a valid motorcycle driver’s license if you’re registering a bike and plan to ride it. What’s more, is you can also qualify for reduced insurance rates by taking motorcycle safety courses along with your license.

Michael Padway

Michael Padway uses his expertise in personal injury and motorcycle accidents to represent a broad spectrum of clients dealing with life-changing and permanent injuries for the first time. His offices are located at 235 Montgomery St., Ste 668, San Francisco, CA 94104 and at 3140 Chapman St. Oakland, CA 94601. For more information, please call (800) 928-1511.

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