Motorcycle Essentials > The Motorcycle Insurance Guide 2020

The Motorcycle Insurance Guide 2020

Motorcycle Insurance Guide

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

As a leading insurance provider and a pioneer for the online-based insurance market, Progressive is our pick for best overall. Progressive is able to keep costs low with their convenient, online, direct-to-consumer process (no insurance agent commissions fees). Consumers online can compare quotes, purchase policies, file claims, and even receive discounts for doing so. BBB Ratings

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

Geico has successfully become one of the biggest names in auto insurance thanks to its competitively low rates and a streamlined process for purchasing policies. BBB Ratings

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

Nationwide Insurance

Best for Bundling Coverage

Nationwide Mutual Insurance has been operating for over nine decades and has consistently received praise for its consideration of employees; just take a look at some of their credentials below! BBB Ratings

The Positive

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

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 writes 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

Insurance Frequently Asked Questions

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. If you need guidance, download our free Motorcycle Beginner Guidebook that has an entire chapter dedicated to motorcycle insurance.

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.

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