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| All content presented here and elsewhere is solely intended for informational purposes only. The reader is required to seek professional counsel before beginning any legal or financial endeavor. |
Are you tired of paying too much for your motorcycle insurance?
Just like protective gear, motorbike insurance is an expense you can’t skimp on when your safety is at hand. Yet, with a variety of insurance providers and coverage options, monthly premiums can differ drastically from policy to policy.
In this article, we are going to share crucial know-how on how to get cheap motorcycle insurance while keeping yourself protected on the road. Let’s get started!
Highlights/ Key Takeaways
- Motorcycle insurance can get pricey, reaching $70 to $2,000 per year and more.
- You can get cheaper motorcycle insurance by purchasing basic coverage, maximizing all available discounts, and shopping around for the best quotes.
- Choosing a more basic motorcycle model, completing a motorcycle safety course, and bundling your motorcycle policy with other types of insurance are some of the best ways to keep your premiums low.
- If you are looking for a cheap motorcycle insurance provider, explore Geico, Progressive, Nationwide, Allstate, Dairyland, and Markel.
How to Get Cheap Motorbike Insurance in 4 Steps
Shopping for cheap motorbike insurance can feel like looking for a needle in a haystack, but know that it’s possible! All you need to do is follow these four steps:
1. Decide on the Required Type of Insurance
Less motorcycle insurance coverage means lower premiums; it’s as simple as that! Decide what your motorcycle insurance should cover and avoid getting any extras. Basic liability coverage is a must for every rider, but your options also include:
- Comprehensive and collision coverage that pays for damage to your motorcycle in case of an accident;
- Uninsured/underinsured motorist coverage that will pay for medical expenses and property damage in case you get hit by an uninsured/underinsured motorist;
- Roadside assistance coverage that will cover towing of your bike in case you need assistance;
- Accessory/optional equipment coverage that pays for damage to your motorcycle accessories like crash bars or helmet;
- Guest/passenger liability coverage that will pay for medical bills of your passenger in case of an at-fault accident.
Ideally, you should get the maximum coverage you can afford. However, if you are looking for a way to get affordable motorcycle insurance, stick with only the required liability coverage.
2. Check Which Discounts You May Qualify For
While each insurance company offers its own discounts, most will offer the following options:
- Multi-policy discount for bundling your motorbike insurance with other policies
- Safety course discount for completing a motorcycle safety course
- Experienced rider discount for riders with many years of experience on the road
- Motorcycle association discount for members of the American Motorcyclist Association
- Responsible driver discount for riders with no history of previous accidents or insurance claims
- Multi-bike discount for riders insuring more than one bike with the company
- Homeowner discount for riders insuring their home with the same company
Make sure to review what discounts are available and what you may qualify for when researching which policy to buy.
3. Shop Around
Shopping around and comparing quotes from different insurance providers is the only way to make sure that you are getting the cheapest coverage possible. Getting several quotes can help you find the lowest rates, but make sure to consider all factors when making the final decision. At the end of the day, you need to make sure that the policy meets all your needs, despite how cheap it may be.
4. Choose the Right Insurance Policy for You
While you may have endless options to choose from, understand that every insurance provider tailors its coverage to a specific market. For example, if you are a military member, you may find the cheapest rates by going with an insurance company that caters specifically to military members. Similarly, some insurance companies only provide cheap insurance for specific motorcycle models.
Getting several quotes can help you find the lowest rates, but make sure to consider all factors when making the final decision. At the end of the day, you need to make sure that the policy meets all your needs, despite how cheap it may be.
What Determines the Cost of Motorbike Insurance?
While the exact cost of motorcycle insurance will vary based on your insurance provider, most companies will consider the same basic factors when determining your premium:
- Your age and riding experience. Younger riders with less experience on the road will be faced with higher premiums.
- Your location. States with high population density and high crime rates tend to have higher motorcycle insurance. Note that California is consistently the most expensive state to insure a motorcycle.
- Motorcycle type and engine size. Sportbikes are more expensive to insure than cruiser bikes and mopeds, and higher CC’s almost always translate to higher insurance premiums.
- Motorcycle value. Newer motorcycles with a higher price tag will cost more to repair or replace, which leads to increased insurance payments.
- Your driving record. If you have no history of traffic violations or accidents, you will be rewarded with significant discounts on your motorcycle insurance. Keep it up!
Why Is Motorcycle Insurance So Expensive?
The cost of motorbike insurance can start from $70 per year and reach $2,000 or even more. Motorcycle insurance is so expensive primarily due to the risk associated with riding the vehicle: in 2020 alone, 83,000 motorcycle riders were injured in a traffic accident, with 5,579 losing their lives. Due to high vehicle speed and limited body protection, motorcyclists are 6 times more likely to die in an accident as compared to car passengers.
How to Lower Motorcycle Insurance?
Carefully choosing your bike, taking advantage of available discounts, and shopping around for the right policy are some of the most effective ways to lower motorcycle insurance.
- Complete a motorcycle safety course. Doing so will automatically lower your premium with most insurance providers.
- Review all available discounts and apply for relevant ones.
- Adjust your deductible and coverage levels. Increasing a deductible can lower your monthly payments; so can choosing more basic coverage.
- Avoid sports motorcycles or bikes with modified engines or high CC’s. These types of vehicles are typically the most expensive to insure.
- Install an anti-theft device on your bike and store it in the garage. Most insurance companies will reward you with lower rates for doing so.
- Bundle motorcycle insurance with other policies from the same insurance provider. This will reduce the premiums on several types of insurance at once.
Examples of Motorcycle Insurance Groups with Cheap Policies
If you are curious how to get cheap motorcycle insurance, consider obtaining quotes from these insurance providers known for their amazing rates and discounts:
- Geico. If you are a young rider between 18 and 21 years of age, Geico may be an excellent option for you. In addition, the company offers flexible payment options and features an easy-to-use mobile app.
- Progressive. Progressive motorcycle insurance offers extra coverage even with its basic policy, which may come in handy should an accident occur. Plus, the company has a number of great discounts such as those for making payments electronically or paying on time.
- Nationwide. Averaging at only $49 per month, Nationwide offers motorcycle insurance with the cheapest rates of all. If you combine your motorcycle coverage with car or home insurance, you may be able to lower your premium even more.
- Allstate. If you own both a car and a motorcycle, Allstate is another great option for you. With this company, you can save 10% off your car insurance if you bundle it with your motorbike policy. In addition, you can take advantage of a motorcycle safety course discount, a good rider discount, a policy transfer discount, and more.
- Dairyland. Dairyland is another motorbike insurance provider offering great rates to teens and young adults. You may be able to reduce your premium even further by completing a motorcycle safety course.
- Markel. If you are a safe rider, consider purchasing insurance with Markel: the company offers great discounts for taking a safety course or being claim-free for several years.
| Pros | Cons | Avg. Monthly Rate | Avg. Annual Cost | |
| Geico | - Low prices for young riders - Flexible payment plans - Convenient mobile app | - Few coverage options available | $51 | $610 |
| Progressive | - Basic policy includes extra coverage - Lots of options to lower the premium - Low prices across all states | - Subpar customer service | $52 | $625 |
| Nationwide | - Lowest quotes - Wide selection of coverage options - Vanishing deductible
| - Unreliable customer service | $49 | $593 |
| Allstate | - Losts of big discounts - Full replacement coverage - Large network of agents | - Can be expensive if you don’t qualify for discounts - Mixed customer service reviews | $71 | $854 |
| Dairyland | - Offers roadside assistance - Provides a motorcycle safety course discount | - Coverage is not available in all states - Some questionable customer reviews | $73 | $881 |
| Markel | - Above-average selection of coverage options - Offers discounts for taking a safety course or being claim-free for several years | - No bundle discounts | $69 | $822 |
Final Word: Finding Motorcycle Insurance that Doesn’t Break the Bank
While motorcycle insurance is a must-have expense for every rider, you don’t have to settle for the first policy you are offered. Cheap motorcycle insurance does exist, - and you can get it by customizing your coverage options, applying for available discounts, and obtaining motorcycle insurance quotes from multiple providers.
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