How Much Is Motorcycle Insurance?

If you’re in the market for a motorcycle, it’s important to shop around for motorcycle insurance too. Like car insurance, motorcycle insurance can protect you financially if you have an accident. Motorcyclists must meet their state’s minimum insurance requirements.

Because motorcyclists aren’t inside a vehicle, accidents are more likely to result in injury or death. In the U.S., motorcycles comprise 3% of registered vehicles and 0.6% of vehicle miles traveled, but motorcyclists account for 14% of all traffic fatalities, according to the National Safety Council.^[1]

Here’s what you need to know about the cost of motorcycle insurance.

Average cost of motorcycle insurance

The type of motorcycle you have can influence how much you pay for coverage, but not by much. The amount of coverage you buy has a greater effect on average costs. Motorcycle drivers with minimum-coverage insurance tend to pay much less than people with full-coverage insurance.

Here are the average costs of motorcycle insurance for drivers of standard, sports, and touring bikes.

What influences the cost of motorcycle insurance?

As with car insurance, a number of other factors also affect the cost of your motorcycle insurance premiums, including your age, ZIP code, driving record, and where you store your bike.^[2] Insurers look at these factors to determine how much risk you pose as a driver. People who demonstrate more risk will likely pay higher premiums.

Age

Your age can affect the cost of your motorcycle insurance. Drivers younger than 21 typically pay the highest motorcycle insurance premiums on average due to their lack of driving experience. A 50-year-old driver pays much less on average for motorcycle insurance coverage than an 18-year-old. On average, 18-year-old motorcyclists pay $533 per month for coverage.

Location and storage

Where you live and where you store your motorcycle also affect your insurance rates. Drivers who live in larger cities typically pay more than motorcyclists in rural areas driving on less congested roads. Cities tend to have busier roads and higher crime and theft rates, which can increase insurance premiums.

Georgia offers the cheapest average motorcycle insurance quote, at $75 per month, and motorcyclists in New York face the most expensive average quote, at $305 per month.

Your driving record and experience

Having a clean driving record will help you earn the best motorcycle insurance rates. If you have an accident or get a speeding ticket or DUI, the cost of your motorcycle insurance will increase.

The type of motorcycle

The type of motorcycle you have affects your premium. Bikes with higher horsepower or modifications pose a higher risk and can result in more expensive premiums. If you build your own bike from a kit, some insurers may not allow you to buy full-coverage insurance. However, some insurance companies sell add-on coverage you can purchase if you want to insure custom parts on your bike.^[3]

Credit history

In most states, insurance companies can look at your credit history when determining premiums. A higher credit rating often leads to lower insurance premiums. States that prohibit or restrict this practice in some way include California, Hawaii, Massachusetts, Michigan, and Washington.^[4]

Frequency of use

Someone riding their motorcycle to work every day might pay more for insurance than someone only using their bike for pleasure on the weekend. More miles on the road often translates to higher premiums.

What does motorcycle insurance cover?

A highly customizable form of insurance, motorcycle insurance gives you the opportunity to select a policy that works best for your budget and coverage needs.

Here are some motorcycle insurance policy coverage options:

• 

  Bodily injury liability

  If you injure others in an accident, bodily injury liability coverage will help pay for their costs. Most states require you to carry a minimum amount of bodily injury liability insurance.

• 

  Property damage liability

  If you damage someone else’s property in an accident, this insurance will help you pay to repair or replace their property. This coverage doesn’t pay to repair or replace your motorcycle.

• 

  Personal injury protection

  Personal injury protection (PIP) covers medical costs to treat any injuries you or a passenger sustains, regardless of fault.

• 

  Collision coverage

  Collision coverage will kick in to repair or replace your motorcycle if an accident damages it. You typically must pay a deductible before coverage applies.

• 

  Comprehensive coverage

  Comprehensive coverage pays to repair or replace your motorcycle after it sustains damage from something other than a collision. Covered non-collision events include theft, fire, vandalism, and storm damage.

• 

  Uninsured/underinsured motorist coverage

  If you experience an accident with an uninsured/underinsured driver, this policy will help you cover the costs associated with the accident and recovery.^[5]

Specialty coverages

Many motorcycle drivers take pride in customizing their rides. Luckily, it’s possible to tap into specialty coverages to increase your protection. Here are some specialty coverages insurers may offer for motorcycle riders:

• Accessories coverage: If your bike has special accessories, opting for accessories coverage can help you repair or replace the parts after an accident. When selecting accessories coverage, confirm what specific parts the coverage includes.

• Helmet coverage: Depending on the insurer, you can buy helmet coverage as a stand-alone add-on or part of accessories coverage. In either case, the coverage will help you pay to repair or replace your helmet after an accident.

• Roadside assistance: If you run into a problem on the road, roadside assistance can come to the rescue. Many insurers offer roadside assistance as a policy add-on.

Best companies for motorcycle insurance

Check out some of the best companies for motorcycle insurance below.

VOOM

Best for: Low-mileage drivers

VOOM is an insurance company that offers pay-per-mile insurance, which can save you up to 60% compared to traditional insurance. This type of insurance is ideal for motorcycle drivers who ride infrequently or have several different bikes that they ride less than 2,000 miles per year each.

Progressive

Best for: Discounts

Progressive is a large insurance company that sells numerous types of insurance, including motorcycle insurance. Progressive has a wide variety of discounts for motorcycle drivers. For example, it offers discounts for getting an advance insurance quote, completing a safety course, driving responsibly, switching from another insurer, and more.

State Farm

Best for: Motorcycles with good safety ratings

State Farm is a trusted insurance company that offers a variety of insurance products, including motorcycle insurance. State Farm is unique in that it uses claim data to determine which motorcycle makes and models carry more risk. Drivers interested in purchasing a motorcycle can use State Farm’s tool to research bikes that have more affordable insurance.

How can you save money on motorcycle insurance?

• Shop around. One of the best things you can do to save money on motorcycle insurance is to shop around. Get quotes from three to five different insurance companies, and pay attention to the discounts each company offers.

• Take a safety course. Many insurance companies offer a discount to motorcycle riders who take a safety course.

• Bundle your insurance. If you have auto insurance, renters insurance, home insurance, or another type of insurance, contact your insurance company or agent and ask whether they offer discounts for having more than one policy with their company.

• Increase your deductible. Your deductible is the amount of money you’re responsible for before your insurance money kicks in after an accident. Typically, the higher your deductible, the lower your premium.

• Carefully choose your bike. Some motorcycles are safer than others, and insurance companies may charge more to insure modified bikes.

• Ask about other discounts. Insurance companies offer a range of discounts that might benefit your specific situation, so make sure you ask about all available discounts.

Motorcycle insurance cost FAQs