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Most states require motorcycle owners to have minimum liability insurance coverage, but it’s optional to have any other type of insurance. However, the minimum coverage usually isn’t enough for grave accidents, whose costs reach an average of $1.2 million. Upping limits and adding other important coverages like comprehensive and collision for vehicle damage will protect you better financially, but can raise premiums.
Gathering multiple quotes will help you find the cheapest motorcycle insurance for the coverage limits and deductibles you can reasonably afford. Taking advantage of any discounts will also help lower your prices. But it’s essential to look at an insurer’s coverage offerings, customer service track record, and awards to ensure you get the best bang for your buck. We weighed all these factors when selecting the five best cheap motorcycle insurance companies.
Best Cheap Motorcycle Insurance of 2022
- Best Overall: Progressive
- Best for Military Members: USAA
- Best for Experienced Riders: Markel
- Best for High-Risk Drivers: GEICO
- Best for Vintage & Custom Bikes: Foremost
Best Overall : Progressive
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Progressive had some of the least expensive quotes for our low-risk driver profile. But Progressive cemented its ranking as our pick for the best overall cheap motorcycle insurance because it automatically includes several coverages that are typically paid add-ons with other insurers, such as full replacement cost for your bike. If you have comprehensive and collision insurance, you also get $3,000 of accessories and custom parts coverage, $500 of safety riding apparel coverage, and Original Equipment Manufacturer (OEM) parts coverage. And if you want more protection for bike accessories and customizations, you can choose a limit of up to $30,000.
Optional Coverages Beyond the Standard
Progressive goes above and beyond the basics with these add-on coverages:
- Total loss coverage for a new motorcycle
- Roadside assistance and trip interruption
- Carried Contents coverage
- Disappearing deductible
- Enhanced injury protection
Discounts
Depending on your location, Progressive’s motorcycle insurance discounts include:
- Motorcycle endorsement
- Policy transfer (applies when transferring from another provider)
- USAA or Harley Owners Group member
Customer Satisfaction
J.D. Power doesn’t consider motorcycle insurance in any of its customer satisfaction studies, but we think its rankings can still give us some indication of what your experience might be like. J.D. Power’s Insurance Digital Experience Study shows that customers find Progressive’s digital platforms about average in functionality. However, when it comes to customer satisfaction with buying policies online, Progressive ranks second to last in J.D. Power’s Insurance Shopping Study.
Small accident forgiveness on a claim up to $500 starts when you sign up
Large accident forgiveness after three years accident-free and four years as a customer
Below-average J.D. Power insurance shopping score
Best for Military Members : USAA
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USAA offers motorcycle policies through alliance companies, but USAA members get access to a 5% member discount, roadside assistance, and 24/7 customer service. The company insures various types of motorbikes and off-road vehicles like cruisers, sport bikes, side-by-sides, and ATVs. USAA only insures military members and their spouses and children, but if you qualify, you’ll enjoy member benefits like disbursements and discounts. USAA can also finance your motorcycle purchase through a motorcycle loan, making it easy to take care of all your financial needs under one roof.
Optional Coverages Beyond the Standard
Like Progressive, USAA offers more than just basic motorcycle insurance:
- Total loss coverage for a new motorcycle
- Roadside assistance and trip interruption
- Carried Contents coverage
- Disappearing deductible
- Enhanced injury protection
Discounts
Depending on your state, USAA motorcycle insurance discounts include:
- 5% membership discount
- Safety course
- Multiple motorcycles
- Motorcycle endorsement
Customer Satisfaction
J.D. Power studies don’t rank USAA against other insurers because of its membership restrictions, but they still publish its scores. In nearly every study in which it appeared, USAA obtained more points than its competitors, showing that its customers are highly satisfied with the service they receive. Notably, though, USAA scored below average on the shopping segment of the J.D. Power Insurance Digital Experience survey, perhaps because prospective customers must apply for membership before requesting a quote.
Access to USAA policy and member benefits
High scores on multiple J.D. Power insurance studies
Affordable rates for drivers with clean records who want state minimum motorcycle coverage
Only available to active/former military personnel and their immediate families
Motorcycle insurance policies are offered through another insurer
Best for Experienced Riders : Markel
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Markel’s motorcycle insurance choices were the most extensive we saw, including policies for big twins, touring bikes, dirt bikes, trikes, custom motorcycles, cruisers, and more. A motorcycle insurer for over 45 years, Markel offers customizable coverage to let you choose the limits and deductibles that make sense for your bike and how you ride it. It offered good coverage for our low-risk driver profile, with a clean driving record and five years of experience, and its coverage includes a diminishing deductible that’s a paid add-on with other insurers. But Markel wasn’t able to offer a quote for our higher-risk driver, so it may not be an option if you’ve been in at-fault accidents within the last four years.
Optional Coverages Beyond the Standard
Markel offers add-ons including:
- Replacement cost
- Funeral expenses
- Trailer coverage
- Mechanical breakdown
Discounts
Based on your location, Markel offers several ways to save, including:
- Policy transfer (10% for switching to Markel from another insurance provider)
- Diminishing deductible (25% for each consecutive accident-free year until $0)
- Multiple motorcycles
- Anti-theft device
- Safe driver
- Renewal discount (insurance rates are discounted at renewal after a loss-free policy period)
Customer Satisfaction
Markel isn’t included in J.D. Power studies because it provides insurance for recreational vehicles, rather than other common insurance products like standard personal vehicles or homes.
Policies available for multiple types of bikes
Diminishing deductible is included in standard coverage, not added as an endorsement
Would not insure our high-risk driver, who had a recent at-fault car accident within the last four years
Best for High-Risk Drivers : GEICO
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GEICO gave our high-risk driver profile the lowest rate: just $413 for motorcycle insurance that met the state minimum. Despite its affordability, GEICO offers riders add-ons like optional motorcycle accessory coverage (up to $20,000). Policies are backed by GEICO’s superior financial strength rating of A++ from AM Best, and customers can enjoy its award-winning digital and policy purchase experience.
Optional Coverages Beyond the Standard
GEICO’s add-on motorcycle insurance options include:
- Accessories coverage
- Helmet coverage
- Emergency roadside assistance
Discounts
Depending on your location, GEICO’s discounts include:
- Policy transfer (up to 10%)
- Mature rider (up to 10%)
- Policy renewal (up to 10%)
- Bundle discount with GEICO car insurance (up to 5%)
Customer Satisfaction
GEICO took first place in J.D. Power’s Digital Experience Study and Insurance Shopping Study for large insurers for its overall customer satisfaction.
#1 in service category of J.D. Power’s Insurance Digital Experience Study
#1 in large insurer category of J.D. Power’s Insurance Shopping Study
Most affordable rates for our high-risk driver profile
Few optional coverages
Must have comprehensive or collision insurance to add accessories coverage
Best for Vintage & Custom Bikes : Foremost
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Foremost has an array of motorcycle insurance packages ranging from liability-only to comprehensive coverage. Some packages are specially designed for vintage or custom bikes: They cover motorcycles over 25 years old that have been restored to their original condition or ones that have over $30,000 in custom equipment. Many of Foremost’s policies also include first-accident forgiveness.
Optional Coverages Beyond the Standard
Foremost offers the basics, as well as a few other notable add-ons:
- Deductible waiver
- Safety apparel coverage
- Towing and roadside assistance
- Trailer coverage
Discounts
Foremost doesn’t list any discounts on its website, but our sample quotes included these savings:
- Motorcycle endorsement
- Policy transfer
- Locked storage
Customer Satisfaction
Foremost isn’t included in independent studies from agencies like J.D. Power, but it’s affiliated with Farmers for its motorcycle insurance policies. However, Farmers’ customer satisfaction ranked below average in both the J.D. Power Digital Experience and Insurance Shopping studies.
Premade packages make it simpler to choose insurance based on your budget
Package available for low-speed vehicles like golf carts and Neighborhood Electric Vehicles
Optional equipment coverage included with comprehensive coverage
Works with USAA to provide members with specialized insurance options
No instant online quotes; you must call an agent for quote adjustments
We received a quote for the “Saver” package despite requesting a “Liability-Only” package
No discounts advertised on the website
Compare Providers
| Insurance Company | Why We Picked It |
|---|---|
| Progressive | Best Overall |
| USAA | Best for Military Members |
| Markel | Best for Experienced Riders |
| GEICO | Best for High-Risk Riders |
| Foremost | Best for Vintage & Custom Bikes |
FAQs
Do Motorcycles Need Insurance?
Yes. Most states require you to have minimum liability coverage for bodily injury and property damage you may cause to others. Depending on state laws, some insurers may also offer Guest Passenger Liability coverage for passengers injured on your motorcycle.
Other typical optional coverages include collision and comprehensive coverages for damage to your motorcycle, customized motorcycle parts coverage, and uninsured/underinsured motorist coverage.
How Much Does Motorcycle Insurance Cost?
The cost of motorcycle insurance depends on a lot of factors, including the rider's age, the cost of the bike, even where the rider lives, so coming up with an estimate is challenging. One survey we looked at put the U.S. annual average cost at $721; another has it at $1,173. The average of the quotes we collected is $706, partly because two of the insurers did not give us quotes for the higher-risk driver. Your best bet is to shop around, get multiple quotes, and compare coverages.
Is Motorcycle Insurance Cheaper Than Car Insurance?
The latest data from the National Association of Insurance Commissioners shows the average annual car insurance premium in the U.S. was $1,190 in 2018, so your motorcycle insurance policy is likely to be cheaper than your auto policy.
Factors that affect your motorcycle insurance premiums include:
- Location
- Age and riding experience
- Motorcycle usage
- Driving record
- Type of bike
- Modifications, customizations, and conversions
- Coverage and deductible selections
- Credit scores
How Can You Get Cheap Motorcycle Insurance?
It’s essential to get quotes from various insurers before committing. Just like with car insurance, each insurer uses its own formula to calculate your premiums, so you may get very different quotes from various companies.
You’ll get better motorcycle insurance rates if you have a clean driving record. Maintaining or improving your record by staying incident-free in all vehicles you drive will help keep your costs down, as will selecting higher deductibles that you can still reasonably afford.
Many insurers offer discounts that are available with some effort on your part, like for taking a training course. Others are easier to obtain, such as multi-bike, multi-policy, and experienced-rider discounts. If you live in a state where you park your bike for the winter, look into “lay-up” policies that suspend all coverages except comprehensive while it’s in storage.
Final Verdict
You can get cheap motorcycle insurance policies with various companies, but based on our research, Progressive offers the best overall value for its price.
How We Chose the Best Cheap Motorcycle Insurance
We looked at 18 insurers that offer motorcycle insurance. We narrowed down the list based on standard and optional coverages, deductibles, discounts, member perks, and J.D. Power scores. From there, we pulled quotes in the state of Illinois for the top contenders and selected the winners for this list based on their affordability and standout features.
As our low-risk rider profile, we used a 35-year-old woman with a clean driving record and five years of experience riding a Honda CMX500 Rebel, a popular bike with a smaller engine.
Our high-risk rider was a 20-year-old male with one recent at-fault auto accident and two years of experience riding a Suzuki GSX-1300R Hayabusa, a powerful sport bike. However, your premiums may vary based on your unique circumstances, so we recommend comparing your own quotes from at least three insurers to find the best cheap motorcycle insurance for you.