best motorcycle insurance
Riding a motorcycle offers an exhilarating sense of freedom and adventure, but it also comes with the responsibility of protecting yourself and your bike. As an independent insurance agent at Blake Insurance Group, I recognize that every rider is unique, and the best motorcycle insurance is the one that fits your individual needs.
Understanding your specific requirements is crucial whether you’re in Arizona, Alabama, Florida, Georgia, New Mexico, New York, North Carolina, Oklahoma, Ohio, Texas, or Virginia.
In this article, we’ll explore the various motorcycle insurance options available, emphasizing how to tailor your coverage to suit your distinct situation. From coverage types to state-specific regulations and potential savings, our goal is to equip you with the knowledge to find the perfect insurance solution for your motorcycle journey.
Whether you’re a seasoned rider or just starting, we’re here to help you navigate the complexities of motorcycle insurance and ensure you have the right protection.
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Understanding Motorcycle Insurance Coverage
**Standard Coverage Options**
**Liability Coverage**:
– **Bodily Injury and Property Damage Liability**: This coverage pays for injuries to others and damages to their property if you’re at fault in an accident. It is mandatory in most states.
– **Guest Passenger Liability**: Covers medical costs for passengers injured in an accident, which is not typically included in standard liability coverage.
**Collision Coverage**:
– Covers the cost of repairing or replacing your motorcycle if it’s damaged in an accident, regardless of fault. This coverage is often required if your motorcycle is financed.
**Comprehensive Coverage**:
– Protects against non-collision-related damages such as theft, vandalism, or natural disasters. Like collision coverage, lenders may require it.
**Uninsured/Underinsured Motorist Coverage**:
– Protects if you’re involved in an accident with a driver without sufficient insurance to cover the damages.
**Medical Payments (MedPay)**:
– Covers medical expenses for you and your passengers, regardless of fault. This is particularly useful if you lack adequate health insurance.
Specialized Coverage Options
Regarding motorcycle insurance, specialized coverage options can provide additional protection tailored to your specific needs and preferences. Here are some of the specialized coverage options available:
**Custom Parts and Equipment Coverage**:
– This coverage protects aftermarket parts and customizations not included in the standard policy. It ensures that any custom equipment added to your motorcycle is covered in case of damage or theft.
**Roadside Assistance**:
– Roadside assistance provides towing, fuel delivery and helps with flat tires or dead batteries. This coverage is beneficial if you frequently travel long distances on your motorcycle.
**OEM Parts Coverage**:
– Original Equipment Manufacturer (OEM) parts coverage ensures that repairs are made with parts from the original manufacturer, maintaining the integrity of your motorcycle. This is particularly beneficial for newer bikes.
**Vacation Rental Coverage**:
– For those who enjoy long road trips, vacation rental coverage provides protection when renting a motorcycle during your travels. It can cover damage to the rental bike and provide liability coverage.
**Replacement Cost Coverage**:
– This coverage pays for the cost of a new bike if your current one is totaled in an accident. It’s precious for newer motorcycles, ensuring you can replace your bike without financial strain.
State-Specific Motorcycle Insurance Requirements
Understanding the specific insurance requirements for motorcycles in different states is essential for compliance and protection. Here’s a breakdown of the requirements for some of the states:
**Arizona**
– **Minimum Liability Coverage**: $25,000 for bodily injury per person, $50,000 for total bodily injury per accident, and $15,000 for property damage per accident.
**Alabama**
– **Minimum Liability Coverage**: $50,000 for bodily injury, $100,000 for property damage, and $25,000 for personal injury protection.
**Florida**
– **No State Requirement**: Florida does not require motorcycle insurance, but a policy with at least the minimum liability limits is recommended for protection.
**Georgia**
– **Minimum Liability Coverage**: $25,000 for bodily injury per person, $50,000 for total bodily injury per accident, and $25,000 for property damage per accident.
**New Mexico**
– **Minimum Liability Coverage**: $25,000 for bodily injury to one person, $50,000 for bodily injury to two or more persons, and $10,000 for property damage.
**New York**
– **Minimum Liability Coverage**: $25,000 for bodily injury per person, $50,000 for total bodily injury per accident, $50,000 for death per person, $100,000 for multiple fatalities, and $10,000 for property damage.
**North Carolina**
– **Requirement**: Liability insurance is mandatory for all motorcycle operators.
**Oklahoma**
– **Minimum Liability Coverage**: $25,000 for bodily injury per person, $50,000 for bodily injury per accident, and $25,000 for property damage.
**Texas**
– **Minimum Liability Coverage**: $30,000 for each injured person, $60,000 per accident, and $25,000 for property damage per accident.
**Virginia**
– **Minimum UM/UIM Coverage**: $25,000 per person and $50,000 per accident.
Average Cost of Motorcycle Insurance
– **National Average**: The average cost of motorcycle insurance in the U.S. is approximately $33 per month or $399 per year.
– **Minimum Coverage**: Minimum coverage costs about $13 per month or $156 per year, though this can vary depending on the type of motorcycle and the insurer.
– **Full Coverage**: Full coverage motorcycle insurance averages around $115 per month or $1,376 per year for standard bikes, with sports bikes costing about $133 per month or $1,600 per year.
**Factors Influencing Premiums**
– **Type of Motorcycle**: Sport bikes are generally more expensive to insure than standard or touring bikes due to their higher risk factors.
– **Rider’s Age and Experience**: Younger and less experienced riders typically face higher premiums due to increased risk.
– **Location**: Insurance costs can vary significantly by state. For example, states like Florida and New York tend to have higher premiums due to higher rates of accidents and theft.
– **Riding Habits and History**: Riders with a history of accidents or traffic violations will likely pay more for insurance.
**State-Specific Costs**
– **High-Cost States**: New York has some of the highest motorcycle insurance costs, averaging $305 monthly.
– **Low-Cost States**: Georgia has some of the lowest monthly costs, averaging $75.
**Ways to Save on Motorcycle Insurance**
– **Multi-Policy Discounts**: Bundling motorcycle insurance with other policies like auto or home insurance can lead to significant savings.
– **Safety Course Discounts**: Completing a motorcycle safety course can reduce premiums.
– **Anti-Theft Devices**: Installing anti-theft devices can also help lower insurance costs.
Average Annual Costs of Motorcycle Insurance for a 50-Year-Old Male
| State | Average Annual Cost | Typical Coverage Options |
|---|---|---|
| Arizona | $500 - $700 | Liability, Collision, Comprehensive, Uninsured/Underinsured Motorist |
| Alabama | $450 - $650 | Liability, Collision, Comprehensive, Medical Payments |
| Florida | $650 - $850 | Liability, Personal Injury Protection (PIP), Uninsured Motorist |
| Georgia | $550 - $750 | Liability, Collision, Comprehensive, Medical Payments |
| New Mexico | $450 - $650 | Liability, Collision, Comprehensive, Uninsured/Underinsured Motorist |
| New York | $700 - $900 | Liability, Personal Injury Protection (PIP), Uninsured Motorist |
| North Carolina | $400 - $600 | Liability, Collision, Comprehensive, Medical Payments |
| Oklahoma | $450 - $650 | Liability, Collision, Comprehensive, Uninsured/Underinsured Motorist |
| Ohio | $400 - $600 | Liability, Collision, Comprehensive, Medical Payments |
| Texas | $500 - $700 | Liability, Collision, Comprehensive, Uninsured/Underinsured Motorist |
| Virginia | $450 - $650 | Liability, Collision, Comprehensive, Medical Payments |
Top motorcycle insurance companies for 2024
Progressive
Progressive is renowned for offering comprehensive motorcycle insurance coverage, considered the best option. They provide various coverage options, including liability, collision, and comprehensive coverage. Progressive is particularly noted for its accident forgiveness feature, which helps prevent premium increases after the first accident. They also offer discounts, such as those for safe riders and multi-policy holders. Progressive’s flexible payment plans and vital customer service make it a top choice for motorcycle owners.
Dairyland
Dairyland is known for its affordability, low premiums, and good coverage options. It provides essential coverages like liability, collision, and comprehensive, along with optional coverages such as roadside assistance and rental reimbursement. Dairyland appeals to riders looking for budget-friendly insurance without compromising on essential protections. Its flexible payment options, discounts for safe riders, and multi-vehicle policies further enhance its appeal.
Harley-Davidson
Harley-Davidson insurance is explicitly tailored for Harley owners and new riders. They offer extensive discounts and coverage options that cater to the unique needs of Harley-Davidson motorcycle owners. This includes custom parts and equipment coverage, crucial for riders who have invested in customizing their bikes. Harley-Davidson insurance also provides benefits like roadside assistance, making it an excellent choice for those who want insurance that aligns with the Harley-Davidson brand experience.
Geico
Geico is well-regarded for offering motorcycle insurance that is particularly beneficial for young riders. They provide flexible payment options and discounts for safe driving and completing a motorcycle safety course. Geico’s coverage options include standard liability, collision, comprehensive coverage, and additional options like accessory coverage. Their strong customer service and competitive pricing make Geico popular among younger motorcycle enthusiasts.
Nationwide
Nationwide is highly regarded for its customer service and comprehensive coverage options, making it an excellent choice for motorcycle insurance. They offer specialized coverage for vintage and classic motorcycles, ideal for collectors. Nationwide allows policyholders to insure up to 12 motorcycles under one policy, with coverage amounts up to $50,000 per bike and $30,000 for custom parts.
Their policies include a vanishing deductible feature, reducing the deductible by $100 each year without a claim, up to $500. Nationwide also offers various discounts, such as multi-policy, multi-vehicle, and motorcycle safety course discounts. However, it’s important to note that Nationwide’s coverage is unavailable in all states, and some customers have reported issues with claims processing.
Markel
Markel is known for providing specialized coverage options for vintage and custom motorcycles. They also offer comprehensive coverage, including protection for custom parts and equipment, roadside assistance, and trip interruption.
Markel is particularly appealing to those who own vintage bikes, as they provide tailored policies that account for the unique needs of these motorcycles. Their policies also include discounts for safe riders, anti-theft devices, and those who complete a motorcycle safety course. Markel’s focus on specialized coverage makes it a top choice for owners of unique and vintage motorcycles.
Allstate
Allstate offers extensive motorcycle insurance coverage options and is well-regarded for its strong customer service. Their policies include comprehensive custom parts and equipment coverage, roadside assistance, and rental reimbursement.
Allstate also provides personal injury protection and medical payment coverage, ensuring riders’ and passengers’ safety. They offer numerous discounts, including multi-policy and safe rider discounts, making their policies more affordable. Allstate’s reputation for thorough protection and excellent customer service makes it a reliable choice for motorcycle insurance.
Safeco
Safeco, a Liberty Mutual company, is best known for providing motorcycle insurance coverage for homemade and kit bikes. They offer comprehensive collision coverage that includes manufacturer parts repair, ensuring high-quality repairs for your motorcycle. Safeco includes roadside assistance with all its plans and offers a Harley-Davidson replacement cost provision.
Although Safeco provides fewer discounts than other insurers, its focus on unique motorcycle types and comprehensive coverage options makes it a standout choice for owners of homemade and kit bikes.
Comprehensive Comparison of Top Motorcycle Insurance Companies
| Company | Average Monthly Cost | Coverage Options | Customer Satisfaction |
|---|---|---|---|
| Progressive | $23 | Liability, collision, comprehensive, roadside assistance, custom parts coverage | High |
| Dairyland | $22 | Liability, collision, comprehensive, roadside assistance, rental reimbursement | Moderate |
| Harley-Davidson | $24 | Liability, collision, comprehensive, custom parts, roadside assistance | High |
| Geico | $36 | Liability, collision, comprehensive, accessory coverage, roadside assistance | High |
| Nationwide | $28 | Liability, collision, comprehensive, vintage bike coverage, vanishing deductible | High |
| Markel | $30 | Liability, collision, comprehensive, custom parts, vintage bike coverage | High |
| Allstate | $35 | Liability, collision, comprehensive, custom parts, roadside assistance | High |
| Safeco | $32 | Liability, collision, comprehensive, homemade/kit bike coverage, OEM parts | Moderate |
FAQs on Best Motorcycle Insurance
What factors should I consider when choosing the best motorcycle insurance?
When selecting the best motorcycle insurance, consider factors such as coverage options (liability, collision, comprehensive), your bike's value, your riding habits, the insurance company's reputation, and the cost of premiums. Customizing a policy to fit your specific needs is crucial.
How much does motorcycle insurance typically cost?
The cost of motorcycle insurance varies depending on factors like your age, riding experience, type of motorcycle, location, and chosen coverage limits. On average, premiums can range from $200 to $1,000 per year. At Blake Insurance Group, we help you find affordable rates that offer the protection you need.
What types of coverage are available for motorcycle insurance?
Motorcycle insurance typically includes liability coverage, collision coverage, comprehensive coverage, uninsured/underinsured motorist coverage, and medical payments coverage. Optional add-ons may include roadside assistance, custom parts coverage, and more. We'll help you find the best mix for your needs.
Is it possible to get discounts on motorcycle insurance?
Yes, many insurers offer discounts for things like completing a motorcycle safety course, bundling policies (such as with auto or home insurance), maintaining a clean driving record, and installing anti-theft devices on your bike. Ask us how you can maximize your savings.
Do I need motorcycle insurance if I only ride occasionally?
Even if you only ride occasionally, having motorcycle insurance is important to protect yourself and your bike from accidents, theft, or damage. In most states, it's also required by law. We'll help you find a policy that suits your riding habits.
Can I customize my motorcycle insurance policy?
Absolutely. At Blake Insurance Group, we offer customizable policies to meet your specific needs. Whether you want to add coverage for custom parts or need higher liability limits, we can tailor a policy that fits your situation.
What should I do if I’m involved in a motorcycle accident?
If you're involved in a motorcycle accident, ensure your safety first and seek medical attention if necessary. Then, report the accident to your insurance provider as soon as possible. We'll guide you through the claims process and help you get back on the road quickly.
How do I file a claim for motorcycle insurance?
Filing a claim is simple. Contact your insurance company with the details of the incident, including any police reports, photos, and witness statements. We'll assist you every step of the way to ensure a smooth and efficient process.
What is uninsured/underinsured motorist coverage for motorcycles?
Uninsured/underinsured motorist coverage protects you if you're involved in an accident with a driver who has little or no insurance. This coverage helps pay for medical expenses and damages to your motorcycle if the other party can't cover the costs.
Can I insure a custom or vintage motorcycle?
Yes, you can insure custom or vintage motorcycles. Specialized coverage may be needed to protect the unique value of these bikes. At Blake Insurance Group, we offer policies tailored to meet the specific needs of custom and vintage motorcycle owners.
Blake Nwosu
Owner & Principal Agent
Blake Insurance Group
Phone: (888) 387-3687
Email: info@blakeinsurancegroup.com
Hours: Mon-Fri 9:00 am to 5:00 pm
Sat-Sun: Closed