Minimal and Full Coverage (2022)

At Guides Auto Team, we’ll show you our top picks for cheap motorcycle insurance and give you tips on finding affordable coverage. Since quotes are tailored to your situation, we recommend comparing a few vendors to find the right one. best motorcycle insurance.

Cheap motorcycle insurance comparison

The cheapest motorcycle insurance rates depend on many factors, including the type of coverage you want and the type of bike you own.

Our team compared motorcycle insurance quotes from popular providers for a 2020 Yamaha MT-03 located in North Carolina. Below are cheap quotes for minimum and full coverage policies. Geico and Progressive offered lower annual rates for paying the premium in full up front instead of monthly. With both companies, the monthly payment required a down payment.

Minimum coverage

In our research, Geico, Progressive, and Allstate topped the list of cheap motorcycle insurance companies for minimal liability coverage.

*Not all monthly plans include 12 payments. Dairyland did not offer a monthly payment option for this minimum coverage quote.

Minimum coverage includes bodily injury liability insurance and property damage liability insurance. This covers other people when you cause an accident. It’s cheap because it doesn’t offer any coverage for your medical bills or your bike.

Full coverage

Riders looking for comprehensive coverage can usually find cheap motorcycle insurance premiums from Progressive, Dairyland, and Geico.

*Not all monthly plans include 12 payments.

The full coverage quotes above include liability insurance plus collision and full coverage. They also include $3,000 of accessories and custom parts where applicable, as well as basic levels of coverage for uninsured/underinsured motorists.

Geico: the cheapest minimum coverage

According to the quotes we have received, Geico is the cheapest option for minimum motorcycle insurance coverage. We received an annual quote of $78 (if the premium was prepaid) and a monthly quote of $15, making liability coverage affordable. Keep in mind that your rates depend on many factors and you might find different costs for a motorcycle insurance policy.

If you want to go beyond bodily injury and material damage insurance, Geico motorcycle insurance offerings:

Here are some of the vehicles that Geico can cover:

  • Cruisers
  • Sports bikes
  • touring bikes
  • custom motorcycles
  • Mopeds
  • MTB
  • Scooters

Progressive: the cheapest comprehensive coverage

With an annual quote of $356 (if premium was prepaid) and a monthly quote of $30, Progressive ranks as the most affordable full-coverage motorcycle insurance in our research. Beyond the standard coverage options, Progressive offers the following:

Tiered Insurance covers original equipment manufacturer (OEM) parts for repairs on all policies when available. It also does not subtract the depreciation value of the parts.

progressive motorcycle insurance provides towing coverage if you get stuck on the side of the road. Finally, the disappearing deductible option reduces your deductible by 25% each claim-free year.

What influences motorcycle insurance costs?

Many factors influence how much does motorcycle insurance cost. These include your motorcycle and the type of coverage you want, as well as personal factors such as your age and location.

your bike

The type of motorcycle you own strongly influences the prices you will find. In this article, we considered quotes for a standard bike. However, you can pay a lot more if you have a powerful sport bike or an expensive touring bike. Costs vary widely, so you should compare quotes from multiple companies.

The coverage you want

Depending on your bike, you may want different types of insurance coverage. For example, if you have a custom chopper, you might want to get agreed value coverage instead of market value in the event of a total loss.

Most companies cover a few thousand dollars of accessories and custom parts if you have full coverage, but you can also increase this amount up to $20,000 or more depending on the value of your upgrades. .

The difference between a minimum coverage policy and a full coverage policy with high limits can be hundreds or even thousands of dollars per year, depending on your motorcycle.

Personal factors

A number of factors related to your situation affect the cost of motorcycle insurance. These include:

  • Age
  • Location
  • Years with license
  • Years of motorcycle experience
  • Motorcycle Safety Course Experience
  • Driving records
  • Constituency Organization Membership

As with car insurance, teenagers and young people in their twenties pay the most for motorcycle insurance. Motorcycle insurance requirements in each state also vary, and this influences what you pay. For instance, motorcycle insurance in california may be more expensive than insurance in other states, as California has a high population density, lots of traffic, and many cyclists on the road.

How to get cheap motorcycle insurance

To get the cheapest suitable coverage, start by knowing the value of your bike with all its upgrades. Then decide what coverage you need, research discounts, and compare quotes.

Save your recipes

One of the best things about owning a bike is that you can upgrade it and swap parts endlessly. Keep your receipts when modifying your bike, as it may be worth more than an original model. It will also help to process a claim if you have full replacement cost coverage.

Decide what coverage you need

The cheapest motorcycle insurance to have is minimum coverage, also known as liability only. But it won’t cover your bike if you cause a motorcycle accident or hit a stationary object. Comprehensive Coverage protects your bike in these situations with Comprehensive and Collision Coverage. It also covers damage to the environment, theft and vandalism.

Depending on your state, you may also have a minimum level of coverage for uninsured/underinsured motorists. This comes into play if someone without sufficient insurance causes an accident. You can also get higher levels of this coverage.

Beyond that, you need to decide if you want additional coverage, such as:

  • Coverage of safety clothing
  • Full replacement costs
  • Coverage of accessories and custom parts
  • OEM Parts Coverage
  • roadside assistance
  • Reimbursement of rent

Look for discounts

Most insurance companies offer a handful of discounts that apply specifically to motorcycle owners. These include:

  • Discount on anti-lock brakes
  • Anti-theft discount
  • Motorcycle Association Membership
  • Discount for experienced rider
  • Safe Rider Discount
  • Motorcycle Safety Course Discount

You can also find other more general discounts. These may include:

  • Owner discount
  • Pay in full discount
  • Multi-policy discount
  • Multi-bike discount
  • military discount

Compare quotes

If you already have car insurance, you may not have to go far to find cheap motorcycle insurance. Many car insurance companies also offer motorcycle insurance, and most of them offer discounts for bundling car and motorcycle insurance. That said, your current company may or may not be the best option, so you should always compare quotes.

Gather at least three motorcycle insurance quotes when shopping. The quotes should also have the same coverage levels so you can compare them equally. Depending on the company, you can get quotes online or call an insurance agent for a free quote.

Cheap motorcycle insurance: conclusion

After reviewing quotes from several providers, we found that Geico was the cheapest for minimal coverage and Progressive was the cheapest for full coverage. However, the cheapest company for you may be another provider. Compare quotes to find the best option for you.

Cheap motorcycle insurance: FAQ

Our Methodology

Because consumers rely on us to provide unbiased and accurate information, we’ve created a comprehensive rating system to formulate our ranking of the best motorcycle insurance companies. We’ve collected data on dozens of motorcycle insurance providers to score companies on a wide range of ranking factors. The end result was an overall score for each provider, with insurers who scored the most points at the top of the list.

Here are the factors taken into account by our assessments:

  • Cost (20% of total score): Motorcycle insurance quotes obtained through secret shopping and discount opportunities were both taken into consideration.
  • Coverage (20% or full score): Companies that offer a variety of insurance coverage choices are more likely to meet consumer needs.
  • Reputation (20% of total score): Our research team considered market share, industry expert ratings, and years in business to assign this score.
  • Availability (20% of total score): Auto insurance companies with greater state availability and fewer eligibility criteria scored higher in this category.
  • Customer experience (20% or full score): 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 customer analysis.

*Data correct at time of publication.

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