Motorcycle Insurance: A Fun and Informative Guide
Are you a motorcycle enthusiast looking for affordable motorcycle insurance coverage? Look no further! At Blake Insurance Group Motorcycle Insurance Agency, we understand the importance of protecting your prized possession without breaking the bank.
In this article, we’ll explore motorcycle insurance’s ins and outs, providing valuable insights and tips to help you make informed decisions. So, let’s rev up our engines and dive into the world of cheap motorcycle insurance!
Picture this: you’re cruising down the open road on your motorcycle, wind in your hair, and not a care in the world. But then, out of nowhere, a deer leaps in front of you, and you’re suddenly faced with an expensive repair bill. Don’t let this scenario ruin your ride. You can hit the road with confidence and peace of mind with the right motorcycle insurance. In this playful and engaging article, we’ll explore the ins and outs of motorcycle insurance so you can ride worry-free.
Understanding Motorcycle Insurance Coverage
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Before we dive into the nitty-gritty, let’s take a quick look at the various types of coverage available for motorcycle insurance:
**Liability coverage**: The bare minimum required by most states, liability coverage pays for injuries or damages to others if you cause an accident. Don’t forget to include guest passenger liability insurance in your policy.
**Comprehensive and collision coverage**: Comprehensive insurance protects your motorcycle from issues like fire, theft, vandalism, and severe weather, while collision coverage covers damage to your motorcycle in an accident.
**Uninsured/underinsured motorist coverage**: This coverage pays for injuries resulting from an accident caused by an uninsured driver or without insurance.
**Medical payments coverage**: This coverage pays for medical expenses for you and your passengers if you’re injured in an accident.
**Accessories coverage**: This coverage pays for upgrades and modifications to your motorcycle and may be automatically included in some policies.
**Carried contents coverage**: This coverage pays for other belongings you have with you on your bike when it gets damaged.
How much is the cheapest motorcycle insurance
The cost of motorcycle insurance varies significantly based on several factors. On average, the cost of motorcycle insurance in the U.S. is around $60 per month or $721 per year. However, this can range from as low as $22 per month or $260 per year to as high as $178 per month.
The cheapest motorcycle insurance rates can vary based on the provider and the type of coverage you choose. Here are some details on the most affordable options:
Minimum Liability Coverage
– **Geico** offers the cheapest minimum liability motorcycle insurance at an average rate of **$12 per month** or **$141 per year**.
– **Dairyland** also provides competitive rates, with an average cost of **$22 per month** or **$262 per year**.
Full Coverage
– **Geico** again leads with the cheapest full-coverage motorcycle insurance at an average rate of **$60 per month** or **$715 per year**.
– **Progressive** and **Dairyland** offer full coverage at approximately **$22 per month** or **$267 per year**.
Cheapest Motorcycle Insurance
| Company | Minimum Liability (Monthly) | Full Coverage (Monthly) |
|---|---|---|
| Geico | $12 | $60 |
| Dairyland | $22 | $22 |
| Progressive | $13 | $23 |
| Harley-Davidson | $24 | $25 |
| Allstate | $13 | $37 |
Key Takeaways
- Geico and Dairyland are among the most affordable providers for both minimum liability and full coverage.
- Rates can vary significantly based on factors such as location, age, riding experience, and the type of motorcycle.
Finding Cheap Motorcycle Insurance Online
Finding the Best Motorcycle Insurance Rates:
Now that you understand the importance of motorcycle insurance let’s find the best rates that offer affordability and comprehensive coverage. Remember that insurance rates can vary across cities in the USA, so it’s essential to compare quotes from multiple insurance carriers to secure the most competitive premium.
As your independent insurance agent at Blake Insurance Group, I’m here to help you find the most affordable motorcycle insurance coverage tailored to your needs. Let’s explore the critical steps to getting you the best rates on your motorcycle insurance.
Step 1: Gather Your Bike Details
To start your cheap motorcycle insurance quote, you’ll need to have some key information about your bike ready. This includes the year, make, model, and vehicle identification number (VIN). These details will allow us to provide you with the most accurate quote.
Step 2: Determine Your Coverage Needs
Next, we’ll need to discuss the coverage options you’re interested in. Do you need the minimum liability coverage required by your state, or are you looking for more comprehensive protection with collision and comprehensive coverage? I can help you evaluate your needs and find the right balance between coverage and cost.
Step 3: Compare Motorcycle Insurance Rates
One of the best ways to find the cheapest motorcycle insurance is to compare quotes from multiple providers. At Blake Insurance Group, we have access to a robust online comparison tool that lets you quickly compare rates from top insurers in your area. This will ensure you get the best motorcycle insurance rates available.
Step 4: Take Advantage of Discounts
There are several ways you can save on your motorcycle insurance premiums. Be sure to let me know if you’re a member of a motorcycle association, have completed a rider safety course, or have any other factors that may qualify you for discounts. I’ll make sure to apply all eligible discounts to your policy.
Step 5: Review and Finalize Your Policy
Once you’ve reviewed the quotes and selected the coverage that best fits your needs and budget, I’ll help you finalize your motorcycle insurance policy. We’ll ensure all the details are accurate and you’re fully protected on the road.
Remember, finding the cheapest motorcycle insurance doesn’t have to be a daunting task. With Blake Insurance Group by your side, you can rest assured that you’re getting the best possible rates and coverage for your two-wheeled adventure. Let’s get started on your cheap motorcycle insurance quote today!
Discounts and Savings for Motorcycle Insurance
There are various discounts available for motorcycle insurance that can help you save on your premium. Some of the common discounts include:
**Multi-policy discounts**: Save money when you combine your motorcycle insurance with other policies, such as home or auto insurance.
**Multi-vehicle discounts**: Get a discount when you insure more than one motorcycle or other vehicles like boats, ATVs, snowmobiles, or scooters.
**Safe rider discounts**: Complete an approved motorcycle safety course, such as those offered by the Motorcycle Safety Foundation (MSF), to earn a discount on your insurance.
**Loyalty discounts**: Some insurance providers offer discounts for long-term customers or those who switch motorcycle insurance to their company.
**Rider group membership discounts**: Belonging to a motorcycle rider group or association, such as the American Motorcycle Association or Harley Owners Group, may qualify you for a discount on your insurance.
**Homeowner discounts**: Owning a home, condo, townhome, or mobile home can make you eligible for a discount on your motorcycle insurance
**Anti-theft device discounts**: Installing a professionally installed radio or GPS theft-recovery system on your motorcycle can save you money on comprehensive coverage.
**Military and law enforcement discounts**: Active or retired military personnel and law enforcement officers may be eligible for discounts on their motorcycle insurance.
**Paid-in-full discounts**: Paying your entire policy premium in full when you buy or renew your policy can result in savings.
Remember that discounts and savings may vary by state and insurance provider. Discussing your options with your insurance agent to ensure you’re taking advantage of all available discounts is essential.
State Requirements
Motorcycle insurance requirements vary by state, with each setting its minimums for coverage. In Texas, the minimum liability limits for motorcycles are $30,000 for each injured person, $60,000 per accident, and $25,000 for property damage per accident. This basic coverage is often referred to as 30/60/25 coverage.
In Arizona, the minimum liability coverage required for motorcycles includes $25,000 for bodily injury per person, $50,000 for total bodily injury per accident, and $15,000 for property damage.
It’s important to note that these are the minimum requirements, and it may be beneficial to consider additional coverage depending on your circumstances. For instance, considering the potential medical bills and property damage costs, having more liability insurance can provide better financial protection.
In Texas, alternatives to standard motorcycle insurance include a $55,000 deposit to the county comptroller or county judge, a surety bond with the county clerk with two others who own real property in Texas, or a certificate of self-insurance through the Texas Department of Transportation. In Arizona, one can show proof of a bond, certificate of deposit, or cash worth more than $40,000 to get out of the mandatory liability insurance coverage.
Failure to meet these minimum insurance requirements can result in penalties. You could be cited and fined in Texas if pulled over without insurance. Your motorcycle license may also be suspended until you can show proof of insurance, and your bike could be impounded. In Arizona, three or more infractions within 36 months can result in a $1,000 fine, and your registration and plates could be suspended for one year.
Remember, these requirements are designed to ensure that drivers can cover the costs associated with accidents. Reviewing your coverage regularly and adjusting it as necessary to fit your current needs is always a good idea.
Motorcycle Insurance Comparison
| Insurance Company | Costs | Coverage Options | Discounts | Customer Satisfaction |
|---|---|---|---|---|
| Geico | Around $715/year for full coverage on average | Liability, Collision, Comprehensive, Accessories Coverage | Multiple discounts including for experienced riders, safety courses, and policy renewal | Rated 9.3/10, known for low-cost policies and great customer service |
| Progressive | $120 to $700/year depending on factors | Standard Liability, Collision, Comprehensive, OEM Parts, Rental Reimbursement | Discounts for safety courses, anti-theft devices, multi-policy, and more | Recognized for comprehensive coverage and affordability, 9.0/10 rating |
| State Farm | Varies, competitive rates | Liability, Collision, Comprehensive, Uninsured Motorist, Roadside Assistance | Discounts for multiple policies, safe driving, and safety equipment | High customer satisfaction, offers personalized service |
| Dairyland | As low as $17/month | Liability, Collision, Comprehensive, Optional/Special Equipment, Roadside Assistance | Discounts for multiple motorcycles, homeowners, and safety courses | Known for affordable coverages and discounts, especially for high-risk drivers |
| Erie Insurance | Competitive, lower than average | Comprehensive, Collision, Accessories, Roadside Assistance, Trip Interruption | Multi-policy bundling, safety equipment, paid-in-full discounts | High ratings for customer service and claims satisfaction, 9.4/10 for basic coverage |
| Harley-Davidson | As low as $19/month | Genuine parts replacement, optional equipment coverage | Discounts for H.O.G. members, safety courses, and more | Specializes in Harley-Davidson bikes, offers genuine parts for repairs |
| Foremost | As low as $21/month | Track day coverage, helmet/safety apparel, transport trailer coverage | Discounts for multi-vehicle, multi-policy, and motorcycle endorsement | Known for specialized coverage options, especially for track riders |
| Nationwide | Known for competitive rates for collectors | Standard Liability, Collision, Comprehensive, Equipment and Custom Parts Protection | Safety courses, anti-theft devices, and multi-policy discounts | Strong financial ratings and customer service reputation |
| Safeco | Competitive, lower than average | Coverage for homemade and kit bikes, custom and vintage motorcycles | Discounts for safety courses, anti-theft devices, and more | Owned by Liberty Mutual, strong in customer service and financial stability |
| USAA (through Progressive) | Not specified | Coverage provided through Progressive | Discounts for safe driving, multi-policy, and military affiliation | Exclusive to military members, veterans, and their families, high satisfaction |
Key Takeaways
- Factors like state, rider age, driving history, and type of motorcycle can significantly impact motorcycle insurance premiums.
- The table provides a general overview of the average monthly costs in each state.
Benefits of Motorcycle Insurance
Now that we know the basics let’s explore the benefits of having motorcycle insurance:
– **Peace of mind in case of accidents**: Accidents happen, and having insurance provides peace of mind, knowing you’re financially protected if the unexpected occurs.
– **Protection against financial losses**: Motorcycle repairs and medical expenses can be costly. Insurance coverage helps mitigate these expenses, saving you from potential financial burdens.
– **Sharing risks with the insurance company**: By purchasing insurance, you’re transferring the risk of potential losses to the insurance company. This allows you to enjoy your rides with confidence, knowing that you’re protected
Best cheap motorcycle insurance Companies
Geico
– Offers excellent rates and outstanding service for motorcycle insurance
– Provides a wide range of coverage options, including liability, collision, comprehensive, and accessories coverage
– Gives discounts for experienced riders, safety courses, multi-policy, and more
– Highly rated for financial strength with A++ and AA+ ratings
– Known for excellent customer service and fast claims processing
Progressive
– One of the cheapest options for both minimum liability and full coverage motorcycle insurance
– Offers standard coverage like liability, collision, and comprehensive, as well as additional options like OEM parts and rental reimbursement
– Provides discounts for safety courses, anti-theft devices, and more
– Highly rated for customer satisfaction and claims handling
State Farm
– A well-established insurer with a strong reputation in the motorcycle insurance market
– Provides comprehensive coverage options and customizable policies
– Offers discounts for safety courses, multi-policy, and more
– Known for good customer service and claims processing
Dairyland
– Consistently ranked as one of the cheapest motorcycle insurance providers, especially for full coverage
– Offers standard liability, collision, and comprehensive coverage, as well as optional add-ons
– Provides discounts for experienced riders, safety courses, and more
– Highly rated for financial stability and customer satisfaction
Erie Insurance
– A regional insurer with a strong reputation for motorcycle insurance in its coverage areas
– Provides comprehensive coverage options and customizable policies
– Offers discounts for safety courses, multi-policy, and more
– Known for excellent customer service and claims handling.
Harley-Davidson Motorcycle Insurance
– Underwritten by the Sentry Insurance Group, offering coverage for a wide variety of motorcycle types and models
– Provides 13 different discounts, including for Harley Owners Group members, on-time payments, military/law enforcement, and more
– Promises to use genuine Harley-Davidson replacement parts for repairs
– Available in 48 states (not available in Alaska, Hawaii, or Washington D.C.)
– Does not offer other types of insurance besides motorcycle coverage
Foremost Motorcycle Insurance
– Offers specialized coverage options for track day riders, including replacement cost for bike repairs after a track accident
– Provides enhanced online services and better insurance terms than parent company, Farmers Insurance
– Coverage options include replacement cost total loss settlement, helmet/safety apparel coverage, and transport trailer coverage
– Offers various package options from basic “Saver” to comprehensive “Elite” coverage
– Discounts available for multi-vehicle, multi-policy, and motorcycle endorsement
Nationwide Motorcycle Insurance
– Known as a top choice for motorcycle collectors due to its specialized coverage options
– Offers standard liability, collision, and comprehensive coverage, as well as optional equipment and custom parts protection
– Provides discounts for safety courses, anti-theft devices, and more
– Highly rated for financial strength and customer satisfaction
Safeco Motorcycle Insurance
– Specializes in coverage for homemade and kit bikes, protecting custom and vintage motorcycles
– Offers standard liability, collision, and comprehensive coverage as well as optional equipment and custom parts protection
– Provides discounts for safety courses, anti-theft devices, and more
– Owned by Liberty Mutual, with strong financial ratings and a customer service reputation
USAA Motorcycle Insurance
– Available exclusively to military members, veterans, and their families
– Offers coverage through a partnership with Progressive, providing access to their wide range of motorcycle insurance options
– Provides discounts for safe driving, multi-policy, and military affiliation
– Highly rated for customer satisfaction and claims handling.
Frequently Asked Questions about Motorcycle Insurance
What is motorcycle insurance?
Motorcycle insurance is a type of coverage designed to protect you, your bike, and others on the road in the event of an accident, theft, or other incidents. It typically includes liability coverage, collision coverage, comprehensive coverage, and other options.
Do I need motorcycle insurance?
Yes, most states require motorcyclists to have a minimum amount of liability insurance. Even if it's not mandated in your state, having motorcycle insurance is crucial for financial protection against accidents, theft, and other potential damages.
What does motorcycle liability insurance cover?
Liability insurance covers bodily injury and property damage that you may cause to others in an accident. It does not cover your own injuries or damage to your bike.
What is collision coverage?
Collision coverage helps pay for repairs or replacement of your motorcycle if it's damaged in an accident, regardless of who is at fault.
What is comprehensive coverage?
Comprehensive coverage protects your motorcycle from non-collision-related incidents such as theft, fire, vandalism, and natural disasters.
How much motorcycle insurance do I need?
The amount of insurance you need depends on your state's requirements and your personal circumstances. To ensure adequate protection, it's wise to consider higher limits and additional coverage options.
Are there any discounts available for motorcycle insurance?
Yes, many insurance providers offer discounts for factors such as completing a motorcycle safety course, having multiple policies with the same company, maintaining a clean driving record, and installing anti-theft devices.
Does motorcycle insurance cover custom parts and accessories?
Standard policies typically have limited coverage for custom parts and accessories. However, you can purchase additional coverage to protect these enhancements fully.
What factors affect my motorcycle insurance premium?
Premiums are influenced by factors such as your age, riding experience, location, type of motorcycle, usage, and your claims and driving history.
Can I insure multiple motorcycles under one policy?
Yes, many insurers offer multi-bike policies that can provide coverage for more than one motorcycle under a single policy, often at a discounted rate.
What should I do if I'm involved in a motorcycle accident?
If you're involved in an accident, ensure your safety first, seek medical attention if needed, and report the incident to the police. Then, contact your insurance company to file a claim and provide all necessary details and documentation.
How can I lower my motorcycle insurance premiums?
To lower your premiums, consider increasing your deductibles, maintaining a clean driving record, taking a motorcycle safety course, bundling insurance policies, and shopping around for the best rates.
Is motorcycle insurance more expensive than car insurance?
Motorcycle insurance can be less expensive than car insurance, but this varies based on factors like the type of motorcycle, coverage options, and your personal profile. In some cases, motorcycles can be more costly to insure due to higher risk factors.
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