The Best Motorcycle Insurance Companies for 2021
Nothing beats the freedom of riding a motorcycle. With the wind in your hair and miles of open road ahead of you, it’s no wonder each day more and more people become bikers. Unfortunately, things don’t always go according to plan. Accidents can not only cost you money, but also your health.
That’s why most motorcycle lovers across the United States not only carry a spare helmet, but also decide to take out an insurance policy before they hit the road. If you’re already a biker or are planning to purchase a motorcycle, read on. We’ve examined the current market so you can have a peace of mind while riding across America.
Top Motorcycle Insurance Companies
One of the biggest vehicle insurance companies in America, Progressive is now also known for being one of the most affordable. The Ohio-based company can insure your motorcycle for as little as $75 a year, providing you’re not looking for a very complicated insurance policy. In fact, the company is so popular now that one in three motorcycles in America is insured by Progressive.Read Full Review
Trip-interruption coverageGet a Quote
This company has been a bikers’ "friend on the road" for over 40 years, offering favorable motorcycle insurance rates and customizable insurance policies. Markel has proven time and time again to be one of the best choices for riders who wish to insure their bikes, and the company often one-ups competitors with wide-ranging and enticing discounts.Read Full Review
Roadside assistanceGet a Quote
Seattle-based Safeco has been in the insurance business for nearly a century, so it’s no surprise that the company’s agents know their stuff when it comes to providing affordable motorcycle insurance policies. This member of Liberty Mutual Group has been a favorite among bike riders for many reasons, but its reputation as one of the most affordable insurance companies truly sets it apart.Read Full Review
Harley Davidson replacement cost provisionGet a Quote
Another American insurance company with a decades-long legacy, AllState is the second-favorite among motorcycle riders across the States. With the slogan “You’re in good hands,” AllState has proven time and time again to be one of the leading insurance companies around.Read Full Review
Tow and labor coverageGet a Quote
This Texas-based company now has over 8 million members among the US Army, its subsidiaries, and their families. While the company offers car and home insurance, its motorcycle insurance is actually outsourced to Progressive. On the other hand, USAA can help you with financing your motorcycle; the company offers low rates on loans and even refinancing.Read Full Review
Bike purchasing loansGet a Quote
Farmers Insurance is a subsidiary of Zurich Insurance Group. This Los Angeles-based company has been operational since 1928. Nowadays, it’s among the most popular insurers for bike riders in the United States thanks to its highly customizable insurance policies.Read Full Review
Roadside assistanceGet a Quote
Our Methodology: How We Evaluate Motorcycle Insurance Companies
The current market isn’t exactly flooded with choices, but it can get quite difficult to tell a great insurance offer apart from a mediocre one. Companies offering insurance sometimes aren’t very familiar with the motorcycle industry or what exactly bike riders need to cover when choosing a plan. Sometimes, it can just be a very bad deal for you, the rider.
That’s why we’re very thorough when reviewing insurance companies. We examine every little detail of every offer. We read the fine print and look for any catches that might be easily missed. Below are the key areas we examine when compiling our motorcycle insurance comparison list.
Range of Coverage
Before anything else, we need to know what exactly each insurance policy covers. This might come as a surprise, but there are many types of coverage to choose from when insuring your bike. Of course, the best possible outcome is all-in-one insurance as the default option. By this, we mean a policy that covers both bike damage and medical bills in case the rider suffers injuries.
Liability coverage is one of the most widespread insurance options, especially considering that in the United States you’re not really required to insure your own vehicle, but you do need to cover any damage sustained in an accident. Every US state has a minimum liability threshold, so in each motorcycle insurance review we’ll point out anything that makes a particular offer stand out from the crowd.
Speaking of accidents, personal injury protection (PIP) is also a very important factor when selecting a plan. The last thing you want is to pay a massive medical bill after you’ve already had to replace some parts on your bike. That counts for your motorcycle, as well. We look into whether each policy offers collision coverage.
Other types of coverage that are a plus in our books include damages caused by an underinsured (or completely uninsured) motorist, rental reimbursement, and the option to insure your guest passenger. Last but not least is coverage for customized or collector bikes. These aren’t a part of the average motorcycle insurance policy, so we don’t subtract any points for insurers that don’t offer these extras. However, we do point out whether these or any other extra options are available.
More often than not, insurance companies are eager to go the extra mile for their clients. Of course, that’s usually just to get ahead of the competition, but still it’s a great benefit for the rider looking to insure their bike.
These additions to existing insurance policies are usually small but meaningful, like a riders’ club that can help you on the road when you get a flat tire or run out of gas. Mind you, these add-ons usually don’t come for free, even with the best motorcycle insurers. However, even if they cost extra, their value often outweighs the price. These aren’t usually major deal breakers when choosing a company to insure your motorcycle, but we prefer at least some add-ons and special offers instead of just a plain old policy.
The price of motorcycle insurance can range wildly, from as low as $100 per year to tens of thousands of dollars. Many factors come into play here - location, type of bike, the rider’s experience - and that’s the sole reason why insurance companies never advertise one fixed price for their services. A flat rate is never offered because it simply cannot exist.
Another thing to keep an eye on when looking for a motorcycle insurance company is the range of discounts on offer. Factors that could earn you a discount include, but are not limited to, the anti-theft systems you already have in place, whether the rider has been ticketed for bad driving in recent months, a multi-unit discount for owners of several vehicles, or even a small bonus discount as an incentive for switching from another insurance company. There could also be recurring discounts on offer, for example when you renew your policy or if you remain road-safe for a certain number of months/years. Even taking a safety course could net you a small discount.
Leading motorcycle insurance companies will offer an array of discounts and incentives. After all, they prefer safe drivers who are less accident-prone and end up bringing more money to the company by extending their insurance.
The final piece of the insurance puzzle is a purely human factor - the quality of service and support provided by the company. It’s important that your company of choice employs staff who are knowledgeable in these matters.
Another major factor is the claims process. We look at how fast and easy it is to claim, whether the company has a 24/7 hotline for their customers, and how well staff members actually handle claims. A reliable motorcycle insurance provider will have several contact methods, be available around the clock, and provide the resources to educate their clients on filing claims and what to do if they happen to suffer a motorcycle accident.
We also evaluate how the company pays out claims and deals with people who have been involved in an accident. This goes hand-in-hand with specialized insurance policies, specifically those for vintage bikes with price estimation requirements.
Fortunly’s Top 6 Motorcycle Insurance Companies:
- Progressive: Best overall motorcycle insurance
- Markel: Best for enthusiasts and collectors
- Safeco: Best discounts
- Allstate: Best insurance for young motorcycle riders
- USAA: Best for military
- Farmers Insurance: Best for experienced riders
Reviews of the Best Motorcycle Insurance Providers for 2021
On Official Website
- • Affordability
- • Lots of discounts
- • Mobile app available
It’s one of the biggest vehicle insurance companies in America. Now, Progressive’s motorcycle insurance has also become known for being one of the most affordable options out there. The Ohio-based company can insure your motorcycle for as little as $75 a year, providing you’re not looking for a very complicated insurance policy.
In fact, the company has become so popular that one in three motorcycles in America is now insured by Progressive. And there’s plenty more to like - this company offers a lot of discounts, specialized insurance for vintage and antique bikes, and additional coverages that most competitors aren’t even considering. On top of that, Progressive has a mobile app you can take as your passenger on those long rides across the States.
There are several “levels” of insurance and plenty of add-ons on offer at Progressive, some of them automatically included in the basic insurance. One of those basic policies includes the full replacement cost coverage, meaning you’ll be reimbursed the actual cash value of your bike in case of an accident. Additionally, $3,000 worth of equipment coverage is included - enough to comprehensively pay for any custom parts and accessories you might’ve installed. On top of this, OEM (original equipment manufacturer) parts are also included in repairs. That way you can rest assured that your Honda will remain a Honda, even after an accident.
Other potential additions to the policy include medical and coverage for uninsured drivers, although these have proven to significantly raise motorcycle insurance premiums. An interesting add-on is enhanced injury protection. This means that in case of an accident that leaves the rider unable to work, Progressive will pay up to $250 every week during the recovery period. Last but not least is protection for carried contents, a safeguard that will reimburse you in the event your personal belongings are stolen or damaged.
Signing up for Progressive’s roadside assistance program adds a layer of security when you’re on the road. If your motorcycle breaks down or runs out of gas while you’re on the road, the company will provide you assistance and a free towing service to the nearest repair station anywhere in the United States or Canada. If you travel a lot, you might want to look into the trip interruption add-on, which covers up to $500 in hotel/motel, food, and transportation bills. Progressive doesn’t seem to be as helpful on the road as other companies, so these services are provided in a rather basic form, without gas refills or other small but helpful services.
Not only does Progressive offer affordable motorcycle insurance, but the company’s huge discount incentives are unmatched, too. The list is quite large, with ten major factors that come into play when you’re looking to get a discount on your policy. As expected, the offer starts with a discount for transferring from a competitor insurance company and extends to all the usual discounts. You’ll be rewarded for three years of safe driving history, passing a motorcycle safety course, joining the association, or insuring multiple bikes. You’ll also get a discount if you’re a homeowner.
Some of Progressive’s more unusual discounts relate to payments, so if you’re always paying on time or have automatic payments enabled, you can expect a small deduction on your rates. Small accident forgiveness is a Progressive specialty and another reason why it’s among the motorcycle insurers with the best rating. This is a leeway of sorts; it ensures your rate won’t go up if you’re involved in an accident with less than $500 worth of damages. Finally, there’s a yearly 25% deductible discount and full accident forgiveness for riders who have been accident-free for at least three years.
The support Progressive provides to its customers is absolutely top-class. Not only is there a customer center with a dedicated support team available around the clock, but you can contact the company via phone, email, fax, chat, and the dedicated mobile app. Progressive’s app is especially handy for managing your insurance bill, reminding you of your next payment, and storing your ID for emergencies.
Therefore, filing a claim is a breeze, especially when we take into account the company’s amazing knowledge base, which teaches new riders how to behave after an accident and how to prepare before filing their claim. Progressive is also very attractive to owners of vintage and custom motorcycles, as the company offers special policies that can reimburse you for accessories and cover the agreed-upon price of your prized motorcycle. With cheap bike insurance, great customer care, and lots of discounts, there’s really not much Progressive doesn’t do better than the competition.
- Many discounts available
- Lowest starting price
- Great for collectors and owners of customized bikes
- Amazing customer service and mobile app
- Some add-ons raise the price higher than competitors’
- Basic roadside assistance
On Official Website
- • Wide coverage
- • Road-mapping service
- • Fast claims
Most companies that offer bike insurance don't really specialize in this field. They’re more likely to bundle their offer with car insurance or, even worse, treat your motorcycle as if it were a car. This simplifies things for the insurer, but it makes life difficult for bikers. A motorbike doesn’t just have two fewer wheels than a car - it’s an entirely different beast.
That's why Markel offers specialty bike insurance. This company has been bikers’ "friend on the road" for over 40 years, offering favorable motorcycle insurance rates for highly customizable insurance policies. Markel has proven time and again to be one of the best choices for riders who wish to insure their beloved bikes comprehensively and with enticing discounts.
From the outset, Markel’s staff emphasize that they truly understand their clients' needs. Insuring a motorcycle is more complex than insuring a car, which is why Markel creates policies according to your needs and habits, while also taking care to ensure you won't get huge bills in case of an accident. Not only can you get fair quotes, but you’ll find policies for dirt bikes, trikes, and custom machines. You can even insure your ATV or snowmobile with Markel.
As previously mentioned, Markel’s bike insurance isn't a one-size-fits-all policy, but more of a checklist of coverage options that can suit your needs and budget. That's why Markel’s motorcycle insurance price range is incredibly wide - it starts for as little as $250 and goes all the way to tens of thousands of dollars per year. You can pick your collision and comprehensive coverage amount, opt for additional accessory coverage if you’ve customized your bike, and even get coverage for mechanical breakdowns. Markel can also provide insurance for the rider and property damage liability in case the rider needs to pay for others' expenses after an accident. The company can also insure your passengers.
Aside from some of the lowest rates for motorcycle insurance in the business, Markel has a roadside assistance and trip interruption program that basically works like AAA. It's really affordable, too, costing just $25 per year for one vehicle or $50 per year for all of your vehicles. For this reasonable sum, you get 24/7 emergency assistance on the road, delivery of supplies, tires, and batteries, reimbursement of an interrupted trip, and access to a locksmith where needed. You even get Markel’s own road-mapping service in case you're traveling to locations you're unfamiliar with.
This membership also yields a set of discounts for hotels, theme parks, and auto service and rental companies, with an ever-expanding list of partners. Be wary, though, as all these road assistance services come with additional costs and limits; you have to be within 50 miles of a Markel-approved mechanic to qualify for assistance.
Even though Markel doesn't advertise itself as cheap motorcycle insurance, this company does offer plenty of discounts that will save you money down the road. The biggest is a 10% transfer discount for anyone switching from a competing company to Markel's insurance. Afterwards, you can save up to 35% on bike insurance depending on whether your bike has anti-lock and anti-theft measures installed and whether you're insuring more than one vehicle at a time.
For long-term clients, there are renewal discounts, safe driver discounts that kick in after three years riding accident-free, and a bonus for riders who pass a safety course. There is also an accident forgiveness program for the most loyal customers. If you go at least four years accident-free, you won't need to pay any extra the first time you have an accident. Finally, there's a diminishing deductible incentive. This means your deductible will be reduced by 25% for each consecutive year without an accident, dropping down to $0 after four years. So, in the right circumstances, Markel is one of the most affordable motorcycle insurance options around.
This company has proven time and time again to know its stuff when it comes to both insuring motorcycles and educating customers on how to report accidents. The company’s contact options include an 800 phone line, email, web form, and even fax, all available 24 hours a day and ready for emergencies.
On the website, you’ll find a handy guide on how to behave after an accident, what measures to take, and, finally, how to file a claim. It’s all very straightforward, without any unnecessary steps along the way. A minor grievance is the lack of any kind of app that could speed up the process, something many other motorcycle insurance companies have been offering for a while.
When it comes to payouts, Markel offers three options for comprehensive and collision coverage. Paying out the actual cash value is the most common option (the value is calculated at the time of loss). For newer bikes, there’s an option to cover the cost of a brand new bike, either by covering your costs for the same model or a unit that is close to the specifications of the totalled bike. The last option is for collector and customized motorcycles. It boils down to the agreed value at the beginning of the policy - the company covers that cost in case it can’t replace the whole motorcycle for you.
- Road-mapping service
- Wide coverage options
- Up to 35% in discounts
- Not as many discounts as competitors
- Lacks app for road assistance
On Official Website
- • Up to 50% in discounts
- • Full roadside assistance
- • Simple claims process
Seattle-based Safeco has been in the insurance business for nearly a century, so it’s not surprising that the company’s staff know their stuff when it comes to providing cheap motorcycle insurance policies. This member of Liberty Mutual Group has long been a favorite among bike riders for many reasons, but its reputation as one of the most affordable insurance companies out there is its biggest strength.
Indeed, Safeco is one of the most prominent insurance companies around, offering both great deals to clients and a wide array of coverage options to suit the needs of even the most demanding riders. Let’s see how this insurer stacks up against the competition.
With Safeco’s motorcycle insurance, you can be sure that all the bases are covered. This company is among the rare beasts that always offer a tailored motorcycle insurance quote and deal. It doesn’t matter if it’s a moped, off-road bike, old-school “hog,” bike-like vehicle, or even a golf cart, Safeco will insure it. That said, one important omission is insurance for vintage and antique bikes.
On the bright side, the range of coverage is pretty vast, with some very interesting additions we don’t often see. One of them is gear replacement, which covers up to $1,000 in expenses for replacing helmets, jackets, and the like. Comprehensive and collision coverage are, of course, also available, along with standard coverage of custom parts up to $3,000 in value, which is higher than what most companies offer.
Harley-Davidson riders looking to insure their ride should pay extra attention to this company; Safeco specializes in two-year insurance for brand new Harleys, covering full replacement costs during the insurance period.
Roadside assistance has become a major selling point for many insurance companies. Safeco is no exception in this regard, matching blow-by-blow what Markel and similar companies have in store. Once you purchase the comprehensive services package, you won’t have to worry about a flat tire or radiator oil leaks. A 24/7 phone line is open for these kinds of emergencies. Safeco’s team will come to you, fill up your tank, replace a tire, or juice up your battery and you’ll be good to go. This package also covers towing in case of a breakdown and includes trip interruption benefits, too.
Safeco sets the bar way higher than many of its competitors. After all, a company that has been around since the ‘20s surely has an ace up its sleeve. That ace is a giant list of discounts, reducing the price by up to 50% if you stick with the company for more than a few years.
Experienced riders are at an advantage here, as Safeco rewards years of safe biking with further discounts. Keeping your bike nice and dry in a garage? That will net you an additional discount, as will having safety precautions already installed and completing a safety course from an approved organization. There’s a discount for members of riding clubs, too. Finally, the standard discounts on motorbike insurance renewals, periods without claims or accidents, and combined insurance also apply.
While there’s much to be admired about Safeco and its incredible incentives program, we do have few complaints regarding the company’s claim system. It’s not bad - far from it - but it’s not as good as others. Before we go into full critique mode, let’s give praise where it’s due; support officers respond quickly and are available 24/7, both via phone and the online claims tracking system. There’s also a handy FAQ section that will clarify whether you should file a claim and explain how to complete one.
That said, the options for filing a claim or just getting in touch with Safeco are basic; you either call up or file a claim through the website, logging into your account beforehand. And that’s pretty much it. It works, but it’s nothing groundbreaking compared to what other motorcycle insurance brokers offer. There are no email or fax details listed on the website, and there’s no mobile app.
As we’ve already mentioned, the other downside to the claims process is that Safeco doesn’t offer agreed value coverage. That means you’re better off insuring your vintage motorcycle somewhere else.
- Vast selection of discounts
- Great for experienced riders
- Complete roadside assistance package
- Fewer coverage options than competitors
- Basic options for contact and filing claims
On Official Website
- • Fast quote process
- • Good for young riders
- • Mobile app
Another American insurance company with a decades-long legacy, Allstate is the second-favorite among motorcycle riders across the States. With the slogan “You’re in good hands” ringing true, Allstate has proven time and time again that it’s one of the leading insurance companies.
With a comprehensive knowledge base, streamlined process for requesting quotes, and thorough discount incentives, this company is especially suitable for younger riders and motorcycle owners who are signing up for insurance for the first time.
Starting with its coverage range, it quickly becomes obvious why Allstate motorcycle insurance is considered the best pick for new riders. The company’s policies mostly revolve around insuring bikes that are either brand new, bought on a lease, or rented (rental reimbursement coverage).
Other coverage options and policies are pretty standard fare. There are no real surprises here, except a lack of agreed-upon price, which means owners of vintage, antique, and collector motorcycles are out of luck, as they won’t get the best deal possible with Allstate. For the owners of customized bikes, a $1,000 reimbursement of add-on parts is included with all policies, which is always a good freebie, even though competitors offer a better deal. Nevertheless, Allstate definitely offers excellent motorcycle insurance for new riders and should be considered if you’ve just bought your first bike.
One of the additional offers at Allstate is coverage for towing and labor in case of a breakdown or an accident on the road. If you own a Harley-Davidson or a Touring bike, this service is included with your policy at no extra premium cost.
As for roadside assistance, there are several packages on offer, starting as low as $25 per year. Once you pick up your new policy, this low-priced add-on immediately becomes available, but you can also select a $79 annual plan that extends to the rest of your family. In either case, Allstate provides 24/7 services across the United States, Canada, Puerto Rico, and the US Virgin Islands, whether it’s repairing a flat tire, filling up your tank, or jump-starting your bike. Assistance is fast, arriving in less than 30 minutes, and is available at your fingertips via the app.
To accompany its highly competitive motorcycle insurance rates, Allstate offers some attractive discounts, even though the selection is very limited. When combining all these deals, you can expect a significant 50% discount if you stick with the company for an extended period. The initial discount is a 10% incentive for switching from another insurance company, while an additional 10% is reserved for riders who have gone five years without an accident for which they are at fault.
Safe and younger drivers are at an advantage here, especially if they have completed a Motorcycle Safe Driving Program. You don’t even need to be a client of Allstate when you complete the course, as long as your certificate is less than 36 months old. And, of course, there are additional discounts for bundling your motorcycle insurance with, for example, car or home insurance, or if you are insuring more than one bike at a time. However, this offer isn’t the best deal around, especially since there’s no annual deductible reduction or some basic discount for bikes with anti-theft locks installed.
What Allstate lacks in discounts, it definitely makes up for in its relationship with customers. This company has the most streamlined method for requesting an insurance quote, with an online tool that is easy to grasp, fast, and even fun to use. Inexperienced riders will find a lot of resources on Allstate’s website, including guides for filing claims and choosing a deductible that’s right for your financial situation.
Speaking of claims, the process is fast and the company provides several methods for contacting the claims team. There’s a 24/7 hotline, an online dashboard with live tracking of the claim’s status, and a mobile app for quick photo claims. The app is definitely the highlight of this motorcycle insurance, the best feature being a tool for checking gas prices and planning escape routes in case of a fire.
- Streamlined quote process
- Big discounts for safe and young riders
- Mobile app with many handy tools
- Poor selection of discounts
- No option for agreed-upon price for vintage bikes
On Official Website
- • Best military insurance
- • Loans for bikes
- • Mobile app
Started in the 1920s by a group of military officers, USAA has since been a trusted insurance provider for thousands of soldiers and their families. At the time, military personnel had a hard time finding insurance. Nowadays, USAA offers motorcycle and other insurance types to US Military members, National Guard, and Reserve, as well as their family members.
This Texas-based company now has over 8 million members among the US Army, its subsidiaries, and their families. While the company offers its own car and home insurance, its motorcycle insurance is actually outsourced to Progressive. USAA can help you with financing your motorcycle; the company offers low rates on loans and even refinancing options.
Given that USAA has partnered with another motorcycle insurance company, its range of coverage is impressively wide. This includes all standard liabilities that are required across the country, as well as comprehensive and collision insurance that protects your investment in case of an accident or a disaster, such as fire or theft. The deductibles are not pre-set, meaning you can choose what you feel most comfortable with.
Other options include covering medical bills, underinsured motorist coverage, and optional coverage for accessories that can be increased to cover for up to $30,000 in custom parts. The terms are always set for one year and, currently, there are no benefits and special insurance options for vintage and collectors’ bikes. All in all, USAA is a good choice if you need liability motorcycle insurance on the road.
Just as the coverage range doesn’t contain any unpleasant surprises, information about additional services is straightforward, too. Once you’ve registered for motorcycle insurance with USAA, you can then pay extra for the roadside assistance service. With this add-on, you can expect the company to cover your expenses when you break down on the road, including towing and emergency repairs.
One addition that separates USAA from other companies on this list is that this company will actually provide help when you’re purchasing or financing your next bike. Getting a loan from USAA is an easy three-step process. You can save even more money with offers from partner companies, such as a deal with BMW that provides up to $750 in discounts.
Speaking of discounts, there are many reasons to consider USAA one of the cheapest bike insurers around. The full list of discounts is impressive, starting with a 10% discount for families and a further 5% for everyone who passes the USAA-approved safety course. Further discounts can be earned for completing a defensive riding course or even if you got good grades in high school, which provides an incentive for young riders. Owners of new or safely stored vehicles can expect additional discounts, too.
There are two interesting discounts specific to USAA. One of them is a 5% discount for existing members, meaning that if you have already insured your house, car or, for example, an RV, your bike insurance will be even cheaper. The second discount is a seasonal one that can save you some money if you don’t ride your bike when the weather is bad.
A company that’s been around for almost a century definitely knows how to provide a quality service beyond just good insurance for your motorcycle. This provider has won numerous awards for excellent customer service. From a handy 800 number through to several toll-free direct lines up to a mobile app, getting in touch with USAA is fast and easy.
Filing a claim is equally streamlined, requiring just a few clicks on the website, a phone call, or a couple of taps on the app. There’s also a handy FAQ for navigating through all the tools. Traveling out of town? USAA also offers an ATM locator through its app, which also helps with managing your insurance, paying bills, and even checking the stock market.
- Nice selection of discounts
- Helps with loans and financing new motorcycle
- Mobile app loaded with handy tools for travellers
- Reserved for military personnel only
- Not suitable for vintage and antique bike owners
On Official Website
- • Tiered insurance
- • Fast claims process
- • Roadside assistance
Farmers Insurance is a subsidiary of Zurich Insurance Group. This Los Angeles-based company has been operational since 1928. Nowadays, it’s among the most popular insurers for bike riders in the United States thanks to its highly customizable insurance policies.
Don’t let the name fool you - Farmers’ agents absolutely know their way around motorbikes, and they offer policies that are highly specialized to suit riders’ needs. This includes both brand new and vintage bikes, as well as packages for everything in between.
Standard fare at Farmers is comprehensive and collision coverage, with more options opening up based on the type of motorcycle and your personal finances. The offering can be split roughly into three packages - basic, plus, and elite - each with a predetermined set of features and ways to reduce your motorcycle insurance cost. A calculator for figuring out your quote won’t be needed, since Farmers’ agents will create a package according to your budget and needs.
The range of these features is great, so you can expect coverage for accessories (unfortunately only up to $15,000), safety apparel, first accident forgiveness, and settlement for new bikes that can cover you for up to five years if you pick the elite tier. There are a few special insurance options, like an agreed-upon price for vintage bikes or a cheaper package for “slow” vehicles (scooters and mopeds).
The two higher-priced tiers have roadside assistance services included, matching the best motorcycle insurance offers at least in terms of service provided. These cover up to $150 worth of expenses for towing, but also include help on the road when you get a flat tire, dead battery, or if your bike gets stuck in the mud by the road. Farmers has a large network of towing and road service facilities and locksmiths, so there’s basically no road in the United States where you won’t be able to get assistance.
Farmers awards its policyholders with a nice selection of discounts, starting with reduced rates for having installed safety and anti-theft measures on your motorcycle. The company also rewards responsible riders who avoid accidents for a full year. There are additional loyalty discounts as well as reductions if you belong to a riders’ club.
If you opt for higher-tier insurance, there are additional discounts in the long run, the most prominent being reduced deductibles for going a full year without an accident. Some standard rate reductions like multi-policy discounts and passing a safety course are included, too, with possible further discounts based on the state you reside in and whether you only ride your bike during good weather.
Browsing through Farmers’ website, it quickly becomes obvious that this insurance company doesn’t really focus on less-experienced riders. The website lacks a knowledge base, or at least more detailed explanations of certain motorcycle insurance coverage options and discounts. The uninitiated will have a hard time picking the right package for their motorcycle. Also, the online quote tool doesn’t work for certain areas in the US, so the safest bet is to give Farmers a call to request an insurance quote from an agent.
At least filing a claim is fast and easy. It can be done over the phone or online, although unfortunately there’s no mobile app. If you do opt to claim online, however, you don’t even need to login to your dashboard to complete the process. All services are available 24/7, as you’d expect.
- Tiered insurance makes picking your package easy
- Fast and easy claims filing
- Good selection of discounts for all motorcycle types
- No knowledge base available
- Lacks a mobile app
Fortunly’s Guide to Motorcycle Insurance
Do you need motorcycle insurance?
Motorcyclists, more than car drivers, are prone to accidents on the road. After all, as a biker you don’t have much protection around you and you only have two wheels to stabilize you. Even if you don’t take your motorcycle on the road very often, in most states it’s required to have at least basic liability insurance. At the very least, you’ll want to protect your investment from the elements and criminal intent.
Even if you’re a highly experienced rider, remember that you’re sharing the road with much larger vehicles - trucks, buses, RVs, and even semi-trailers. Other drivers might not be as careful as you; they might end up causing an accident that affects both you and your bike. There are many types of policies, but the best motorcycle insurance will cover medical bills and other expenses, even in cases when the third party caused the accident. You might not ever need it, but it’s better to have a (usually inexpensive) than to cruise without it.
What affects motorcycle insurance rates?
Getting your motorcycle insured requires as much research as any other kind of insurance. After all, you’re not just heading out and buying a product off the shelf. Here, a professional needs to evaluate a multitude of factors that all affect the final price. That’s why it is extremely rare to see motorcycle insurance offered at a fixed price; costs vary wildly, so you’re more likely to see ads that “start from” a certain price. Still, there are a few things you should know before you request a quote:
Type of bike
This is a risk assessment step your agent will take when evaluating your policy. It boils down to the speed of the bike; the faster it is, the more of a potential risk it poses and the more expensive your insurance will be. However, this doesn’t apply if you’re insuring a vintage or antique motorcycle. Those are valuable collector’s items, and they tend to become more expensive to insure as time goes by. The most common type of insurance for these items is based upon the agreed value of the bike and can get quite expensive. That’s why the best type of motorcycle, at least when it comes to insurance price, is a scooter used for city transport.
Rider’s age and experience
Insurance companies like working with responsible people who have many years of riding experience under their belt. The price usually goes down in this case, especially if the person has never had an accident. Some companies offer incentives for younger riders or, in most cases, will offer to reduce your rates when renewing your policy if you’ve gone a full year without an accident.
Equipping your motorcycle with add-ons can either increase or decrease your policy rates. Cosmetic accessories raise the price, especially if you choose to include additional insurance coverage for them, while installing safety features earns discounts from the insurance providers. The latter falls into the “responsible rider” category, so it’s definitely beneficial to look into safety features when comparing motorcycle insurance offers. Long-term benefits can easily outweigh the initial quotes you receive from the companies.
If you want to save money on motorcycle insurance, get a smaller or less powerful bike and avoid custom or collectors’ bikes. Taking safety courses and installing safety measures can also save you money - insurance companies love responsible riders! Further price cuts can come if you combine motorcycle coverage with another vehicle or property, or if your bike is stored in a secure area.
In 2021, the average motorcycle insurance cost in the United States is $721 per year. This is much cheaper than auto insurance and some companies offer even more affordable prices depending on the type of your motorcycle, experience, and the model of your bike. Insuring your bike in Dakota, Iowa, Oklahoma, Wyoming, or New Hampshire has proven to be the cheapest.
Yes, AAA does offer motorcycle insurance, even though its main service is road assistance. Once you become a AAA member, you’ll have the option to buy additional services, motorbike insurance included. Depending on the state you live in, these offers can vary, considering not every state in America requires motorcycle riders to fully insure their bikes.
Buying full coverage insurance for your motorcycle can easily cost you $1,000 and might even reach $3,000 if you prefer sport bikes. The best motorcycle insurance providers will make it worth your while, though, as their policies include many additional services that can help riders in their everyday commutes.