Key Takeaways
- Geico offers the cheapest motorcycle insurance overall at an average rate of $428 per year.
- Motorcycle insurance tends to be much less expensive than car insurance for coverage policies.
- Some key factors companies use to set motorcycle insurance rates are your age, years of riding experience and type of motorcycle.
We at the MarketWatch Guides Team will show you our top picks for cheap motorcycle insurance and give you tips on finding affordable coverage. Since quotes are customized for your situation, we recommend comparing a few providers to find the best motorcycle insurance. More Motorcycle Insurance Articles
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Why You Can Trust The MarketWatch Guides Team
Cheap Motorcycle Insurance Rates
The cheapest motorcycle insurance rates start at $12 per month but the quotes you will receive will vary greatly by company. So below we have summarized the cheap average motorcycle insurance costs for affordable providers to compare.
Lowest Quotes for Minimum Liability Motorcycle Insurance
In our research, we found Geico has the cheapest minimum liability motorcycle insurance at $141 per year. In the table below you can compare averages for the cheapest motorcycle policy providers:
| Cheap Motorcycle Insurance Provider | Average Annual Minimum Coverage Rate | Average Monthly Minimum Coverage Rate |
|---|---|---|
| 1. Geico | $141 | $12 |
| 2. Allstate | $157 | $13 |
| 3. Progressive | $160 | $13 |
| 4. Dairyland | $166 | $14 |
Note: For the prices 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.
Lowest Quotes for Full Coverage Motorcycle Insurance
Geico offers the cheapest full-coverage motorcycle insurance at an average rate of $715 per year. Below you can compare motorcycle insurance quotes for the cheapest companies:
| Cheap Motorcycle Insurance Provider | Full-Coverage Average Annual Rate | Full-Coverage Average Monthly Rate |
|---|---|---|
| 1. Geico | $715 | $60 |
| 2. Dairyland | $843 | $70 |
| 3. Progressive | $901 | $75 |
| 4. Allstate | $1,334 | $111 |
Note: The rates 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.
Top Cheap Motorcycle Insurance Companies
We found the best cheap motorcycle insurance companies to be the following:
- Geico: $428 per year
- Dairyland: $504 per year
- Progressive: $530 per year
- Allstate: $746 per year
Note: Rankings were determined through averages of both full coverage and minimum liability policy quotes we received for standard, sports and touring bikes for low-risk drivers who haven’t had an accident in the last 3 years.
Editor’s Choice
1. Geico
Learn MoreIn Our Comprehensive Review
Star Rating4.7
MONTHLY COST$36 on average
Geico Motorcycle Insurance Pros and Cons
Pros
Some of the industry’s lowest rates
Outstanding reputation
Easy-to-attain discounts
Superior financial health
Cons
Relatively low customer review scores
Geico Motorcycle Insurance Cost and Discounts
Geico Motorcycle Insurance Coverage
Geico Insurance Reputation
Quality Coverage for High-Risk Riders
2. Dairyland
Learn MoreIn Our Comprehensive Review
Star Rating4.3
MONTHLY COST$42 on average
Dairyland Motorcycle Insurance Pros and Cons
Pros
Affordable average premiums
Extensive added coverage options
Positive financial strength rating
Many discount opportunities
Cons
Poor claims process reviews
Limited availability
Dairyland Motorcycle Insurance Cost and Discounts
Dairyland Motorcycle Insurance Coverage
Dairyland Motorcycle Insurance Reputation
Most Comprehensive Coverage
3. Progressive
Learn MoreIn Our Comprehensive Review
Star Rating4.5
MONTHLY COST$44 on average
Progressive Motorcycle Insurance Pros and Cons
Pros
Relatively affordable premiums
Excellent financial strength
Extensive additional coverage options
Strong industry reputation
Cons
Average customer reviews
Progressive Motorcycle Insurance Cost and Discounts
Progressive Motorcycle Insurance Coverage
Progressive Insurance Reputation
Affordable Motorcycle Insurance
4. Allstate
Star Rating4.0
MONTHLY COST$62 on average
Allstate Motorcycle Insurance Pros and Cons
Pros
Personalized experience with local agents
Wide variety of insurance coverage options
A+ AM Best financial rating
Cons
Mixed Allstate insurance reviews
Higher-than-average prices
Allstate Motorcycle Insurance Cost and Discounts
Allstate Motorcycle Insurance Coverage
Allstate Insurance Reputation
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Cheap Motorcycle Insurance Quote: What Affects Your Rates?
Many factors influence how much motorcycle insurance costs. These include your motorcycle and the kind of coverage you want, as well as personal factors like your age and location.
Your Bike
The type of motorcycle you have strongly influences the rates you’ll find. In this article, we considered quotes for a standard bike. However, you may pay significantly more if you have a powerful sport bike or an expensive touring bike.
For added context, here are a few full-coverage quotes for a 2023 Honda CBR1000RR. These estimates are for a 35-year-old driver and feature collision and comprehensive coverages, each with a $250 deductible:
| Insurance Provider | Annual Cost | Down Payment Required | Monthly Payment |
|---|---|---|---|
| Geico | $1,160 | $148 | $105 |
| Dairyland | $1,837* | N/A | N/A |
| Progressive | $3,229 | $483 | $250 |
*Paid in full.
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 worth of accessories and custom parts if you have full coverage, but you can also bump that 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 about your situation affect the cost of motorcycle insurance. These include:
- Age
- Location
- Years with a license
- Years of motorcycle experience
- Motorcycle safety course experience
- Driving record
- Riding organization membership
As with car insurance, motorcycle riders in their teens and early 20s pay the most for motorcycle insurance. Motorcycle insurance requirements in each state also vary, and that influences what you pay. For example, motorcycle insurance in California can be more expensive than insurance in other states because California has a high population density, lots of traffic and many bikers on the road.Read More
How To Get Cheap Motorcycle Insurance
To get the cheapest appropriate coverage, start by knowing the value of your bike with all of its upgrades. Then, decide how much coverage you need, look for discounts and compare quotes.
Keep Your Receipts
One of the best things about owning a bike is that you can upgrade it and swap out parts endlessly. Keep your receipts when you modify your bike because it may end up holding more value than a stock model. This will also help process a claim if you have full replacement cost coverage.
Decide How Much Coverage You Need
The cheapest motorcycle insurance to have is minimum coverage, which is also called liability-only coverage. But this won’t cover your bike if you cause a motorcycle accident or hit a stationary object. Full coverage protects your bike in these situations with comprehensive and collision coverage. It also covers environmental damage, theft and vandalism.
Depending on your state, you may also have a minimum level of uninsured/underinsured motorist coverage. This kicks in if someone without enough insurance causes an accident. You can get higher levels of this coverage as well.
Beyond that, you should decide if you want extra coverage, such as:
- Safety apparel coverage
- Full replacement cost
- Accessories and custom parts coverage
- OEM parts coverage
- Roadside assistance
- Rental reimbursement
Look for Discounts
Most insurance companies offer a handful of motorcycle insurance discounts. These savings opportunities that apply specifically to motorcycle owners include:
- Anti-lock brake discount
- Anti-theft device discount
- Motorcycle association membership
- Experienced rider discount
- Safe rider discount
- Motorcycle safety class discount
You may also find other discounts that are more general. These can include:
- Homeowner 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 those offer discounts for bundling auto and motorcycle insurance together. 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 you shop around. The quotes should also have the same levels of coverage so you can compare them equally. Depending on the company, you can get quotes online or call an insurance agent for a free quote.
Ride With Safety in Mind
You can also save money on motorcycle insurance by doing everything you can to ride safely. Wearing protective gear, avoiding accidents and obeying traffic laws are the simplest ways to make sure your insurance costs stay low.
Read More
Cheap Motorcycle Insurance: The Bottom Line
Having considered quotes from multiple providers, we found Progressive to be the cheapest for minimum coverage and Geico to be the cheapest for full coverage. However, the cheapest company for you may be another provider altogether. Compare quotes to find the best option for you.
Cheap Motorcycle Insurance Near Me
Below you can start comparing quotes by entering your zip code in our free tool to find the cheapest motorcycle insurance with the best coverage for you.
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