Key Takeaways
- Full coverage motorcycle insurance with higher limits ranges from about $245 to $2,534 per year.
- According to our secret shopper analysis, minimum coverage ranges from about $85 to $263 per year.
- Many factors influence what you’ll pay, including your age, location, driving record and motorcycle experience.
Knowing how much you can expect to pay for motorcycle insurance can make the purchasing process go smoothly. While rates will be different for every bike and rider, we at the MarketWatch Guides team researched how much motorcycle insurance from some of the country’s best motorcycle insurance options costs on average. Read on to learn more about average motorcycle insurance rates to get a sense of how your rates may compare.
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The MarketWatch Guides Team is committed to providing reliable information to help you make the best decision possible about insuring your vehicle. Because consumers rely on us to provide objective and accurate information, we created a comprehensive rating system to formulate our rankings of the best car insurance companies. We collected data on dozens of auto insurance providers to grade the companies on a wide range of ranking factors. After 800 hours of research, the end result was an overall rating for each provider, with the insurers that scored the most points topping the list.
Learn more about our methodology and editorial guidelines.
Motorcycle Insurance Cost
Motorcycle insurance costs can range anywhere from $85 per year to $2,534 per year depending on coverage, the provider you choose, your driving profile and more. Below we’ll break down average motorcycle insurance premiums for both minimum and full coverage for multiple types of bikes and quotes from major providers.
Minimum-Coverage Motorcycle Insurance Cost
According to quotes we got from major motorcycle insurers, minimum coverage motorcycle insurance costs an average of $156 a year or $13 a month. However, this differs widely depending on the bike you own. So below we’ve summarized the average pricing for both standard, sports bikes, and touring bikes:
- Standard bike: $91 per year or $8 a month
- Sports bike: $136 per year or $11 a month
- Touring bike: $241 per year or $20 a month
The table below summarizes the quotes we received from major insurers for motorcycles so you can compare:
| Motorcycle Insurance Provider | Standard Bike Annual Premium | Sports Bike Annual Premium | Touring Bike Annual Premium |
|---|---|---|---|
| Progressive | $85.23 | $142.37 | $252.27 |
| Geico | $85.34 | $123.25 | $215.32 |
| Dairyland | $98.26 | $136.86 | $262.91 |
| Allstate | $97.00 | $141.00 | $234.00 |
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Note: For the quotes above, we selected minimum coverage with limits of $30,000 bodily injury liability per person, $60,000 bodily injury liability per accident, and $25,000 property damage liability per accident. All of these quotes also apply to low-risk riders who have had no accidents in the last three years. They are split among standard (2017 Yamaha SR400 with a 399 cc engine), sports (2020 Suzuki GSX-R600 with a 599 cc engine), and touring (2020 Honda Goldwing F6B with a 1,832 cc engine) motorcycle quotes.
Full-Coverage Motorcycle Insurance Cost
Full-coverage costs significantly more than minimum coverage for motorcycles at an average of $948 per year or $79 per month. Similar to minimum coverage, your pricing will vary depending on the type of bike and the company you choose. Below we’ve broken down the average costs for each motorcycle type:
- Standard bike: $1,376 per year or $115 a month
- Sports bike: $1,600 per year or $133 a month
- Touring bike: $900 per year or $75 a month
You can compare quotes we received from major insurers for motorcycles below:
| Insurance Provider | Standard Bike Annual Premium | Sports Bike Annual Premium | Touring Bike Annual Premium |
|---|---|---|---|
| Progressive | $384.43 | $1,269.53 | $1,048.20 |
| Geico | $312.31 | $1,191.31 | $641.44 |
| Dairyland | $244.81 | $1,407.89 | $875.74 |
| Allstate | $434.00 | $2,534.00 | $1,034.00 |
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Note: The quotes above include limits of $100,000 bodily injury liability per person, $300,000 bodily injury liability per accident and $50,000 property damage liability per accident. The collision and comprehensive policies cover the actual cash value of the bike minus a $500 deductible. All of these quotes also apply to low-risk riders who have had no accidents in the last three years. They are split among standard (2017 Yamaha SR400 with a 399 cc engine), sports (2020 Suzuki GSX-R600 with a 599 cc engine), and touring (2020 Honda Goldwing F6B with a 1,832 cc engine) motorcycle quotes.
Full coverage adds comprehensive and collision coverage to the mix, which pays to fix your bike after an accident or collision with a stationary object. The rates for full-coverage motorcycle insurance may seem steep, but it can be smart to get more than your state’s minimum-coverage requirements. Full coverage may not be necessary for your needs, but minimum coverage doesn’t repair your bike if you damage it in a crash.
Source: Geico
Factors That Affect the Cost of Motorcycle Insurance
Motorcycle insurance rates change constantly. While it’s impossible to know exactly how much you’ll pay without getting motorcycle insurance quotes, the following factors play sizable roles in determining your rates:
- Age: Drivers under the age of 25 will likely pay steep insurance rates.
- Gender: Women generally pay less than men for motorcycle insurance.
- Marital status: Single riders are usually charged higher rates than married ones.
- Experience: Riders with many years of experience on the road pay lower rates.
- Driving history: If you don’t have road violations or accidents on your record, you’ll pay less.
- Credit score: Higher credit scores usually lead to lower annual premiums.
- State of residence: Expect higher rates in states like New York, Texas and Michigan. Between crowded cities, large numbers of uninsured drivers and demanding coverage standards, these states aren’t cheap for motorcycle insurance.
- Winter weather conditions: Harsh winter weather leads to reduced usage and lower prices than for motorcycle insurance in California, Florida and other warm states.
- Type of motorcycle: Sports bikes typically cost the most to insure and touring bikes cost the least. Expect dirt bikes and trikes to have different rates, as they’re separate models.
- Specific model factors: A model’s price tag, engine size, motorcycle safety standards, crash rate and number of theft and vandalism instances all influence what you pay.
- Type of use: Leisurely use will find cheap motorcycle insurance compared to daily use.
- Type of coverage: More comprehensive motorcycle insurance plans will cost more.
- Deductible amount: The lower your deductible, the higher your premium is likely to be.
How To Lower Motorcycle Insurance Costs
While motorcycle insurance costs vary by provider and the factors mentioned above, there are a few ways motorcycle riders can save on insurance costs.
If you’re looking to reduce how much motorcycle insurance takes out of your bank account each year, consider the tips below:
- Choose a cheaper bike. If your motorcycle holds a lower value, its insurance rate will reflect that.
- Look for safety features. Expect lower insurance premiums if your motorcycle follows stringent safety standards, has a small engine or includes anti-lock brakes and anti-theft devices.
- Reduce your annual mileage. The cost of motorcycle insurance is lower for those who ride less.
- Increase your deductible. Higher deductibles result in lower insurance costs.
- Look for discounts. Insurance providers often provide a range of discount offers.
- Take a motorcycle safety course. Those who enroll in rider safety courses will likely save money on insurance.
- Join a rider group. Members of the Harley Owners Group and other biker clubs may see lower rates.
- Opt for bundling insurance coverage. If you bundle homeowners, renters or auto with a motorcycle insurance policy, expect a multi-policy discount.
- Compare motorcycle insurance quotes. Get quotes from providers to see which best fit your cost and coverage needs.
Cost of Motorcycle Insurance: The Bottom Line
In this review, we went over the cost of motorcycle insurance, different motorcycle insurance coverages, how to lower motorcycle insurance and factors that impact motorcycle insurance. Below are some recommended providers and frequently asked questions.
Best Motorcycle Insurance Companies
Your chosen coverage provider plays a major role in determining how much motorcycle insurance is per year. To keep prices down without sacrificing on quality, check out coverage from Geico, Progressive and State Farm.
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Geico: 9.3 out of 10.0
Geico motorcycle insurance stands out in the industry because of its low prices. On top of that, riders can take advantage of several motorcycle insurance discounts that help lower how much motorcycle insurance costs per year.
You’ll find all the basic bike insurance plans through Geico, from liability coverage to accessories protection. The company won’t have any problems paying out claims either, as seen by its A++ financial strength rating from AM Best. While its customer service ratings are average, Geico makes up for it with good coverage and affordable rates.
Progressive: 9.0 out of 10.0
You should have no issues finding the right coverage from Progressive, as the company offers an array of motorcycle insurance policies fit for most riders. The company’s motorcycle insurance coverages include:
- Bodily injury liability and property damage liability
- Uninsured/underinsured motorist coverage
- Collision coverage
- Comprehensive coverage
- Medical payments coverage
- Roadside assistance and trip interruption benefits
- Total loss coverage
- Carried Contents® coverage
- Enhanced injury protection
Progressive is well-positioned to cover motorcycle riders, and the company is known for insuring high-risk drivers. The company has an A rating from the BBB, as well. Whether you’re looking for very specific coverage options for your bike or you have a checkered driving record, Progressive motorcycle insurance can be a smart choice.
State Farm: 8.8 out of 10.0
As the country’s largest car insurance provider, State Farm has plenty of experience providing motorists with high-quality plans. State Farm motorcycle insurance is backed by the company’s A rating from the BBB and A++ financial strength rating from AM Best.
On top of this, State Farm is known for its personalized service due to its strong presence in communities. The company’s customer reviews often praise the quality of service that comes from its network of over 19,000 local insurance agents nationwide.
FAQ: Average Cost of Motorcycle Insurance
Below are some frequently asked questions on the cost of motorcycle insurance:
Motorcycles can be expensive to insure depending on your financial situation. On average, riders can end up paying from as low as $25 to $200 per month. You can lower costs on motorcycle insurance by opting for minimum coverage and seeking out discounts.
Motorcyclists generally pay between $60 and $75 per month for insurance, though this can range from as low as $25 per month up to $200 per month depending on coverage types. How much motorcycle insurance is depends on your type of bike, location and driving history.
As most motorcycles are cheaper than cars, you can generally expect motorcycle insurance to be cheaper than coverage for a standard vehicle.
At a bare minimum, you need to meet your state’s minimum coverage requirements for motorcycle insurance. It’s recommended to exceed this minimum amount, though, to ensure you’re fully protected in the case of an accident.
How We Rate Motorcycle Insurance Companies
Because consumers rely on us to provide objective and accurate information, we created a comprehensive rating system to formulate our rankings of the best motorcycle insurance companies. We collected data on dozens of motorcycle insurance providers to grade the companies on a wide range of ranking factors. The end result was an overall rating for each provider, with the insurers that scored the most points topping the list.
Here are the factors our ratings take into account:
- Cost: Motorcycle insurance quotes obtained through secret shopping and discount opportunities were both taken into consideration.
- Coverage: Companies that offer a variety of choices for insurance coverage are more likely to meet consumer needs.
- Reputation: Our research team considered market share, ratings from industry experts and years in business when giving this score.
- Availability: Auto insurance companies with greater state availability and few eligibility requirements scored highest in this category.
- Customer Experience: This score is based on volume of complaints reported by the NAIC and customer satisfaction ratings. We also considered the responsiveness, friendliness and helpfulness of each motorcycle insurance company’s customer service team based on our own shopper analysis.
*Data accurate at time of publication.
If you have feedback or questions about this article, please email the MarketWatch Guides team at editors@marketwatchguides.com.
