Motorcycle insurance covers your vehicle in the event of an accident and compensates you for any property damage or injuries you incur while riding. Most states require motorcycle insurance based on the rider, the motorcycle, and where they live.
Premiums might range from a few hundred and a few thousand per year. Continue reading to learn about the best Bike insurance companies and the discounts and perks available if your bike isn’t insured or you want to transfer carriers.
Motorcycle Insurance Company Reviews
If you’ve been in an accident, Progressive is the finest motorbike insurance company to choose from because its policies are very tolerant of big and small incidents, so they don’t lower your rates. It also has reasonable policies for replacing damaged parts.
Progressive’s policies are exceptionally generous, including accident forgiveness, replacement component selection, free accessory coverage, and lower deductibles the more you go without filing a claim.
Progressive also provides extras that aren’t common in the business, such as total loss coverage for new bikes, up to $3,000 in coverage for items you bring with you (which no other business on this list does), and extended injury insurance, which pays $250 per week for two years if you get hurt and can’t return to work.
Harley-Davidson is the finest firm to purchase insurance for new riders. Harley-Davidson makes it simple to obtain insurance for your first motorcycle. You can acquire everything in one spot if you need a loan to buy your bike or an extended service plan.
Harley-Davidson is distinct from the other firms on this list because it specializes in motorcycle coverage and related items such as components, bike loans, and planned maintenance insurance. It’s an excellent location to seek insurance for your first bike, especially if it’s a Harley. If you mix these features with the company’s rebate for taking a motorbike safety course, you can save even more money.
Furthermore, only Progressive has a broader choice of motorbike types insured and greater savings than Harley-Davidson. It includes all of the standard coverage options as well as numerous extras. These include full replacement coverage in the event of a total loss and protection for the cost of repairing equipment in the event of a minor accident.
First and foremost, Foremost is the best motorbike insurance company for track riders. It is the only firm on our list that will provide coverage for these high-risk customers. Track-day insurance will pay to repair or replace your bike if an accident occurs on the racetrack.
Foremost sells the same insurance products as its parent business, Farmers, but its website is more user-friendly. There are three levels of coverage available: Saver, Plus, and Elite. Each can be customized to meet your specific requirements. Foremost’s plans cover helmets as well as other safety equipment.
However, the amounts differ for every plan. All plans also include coverage for the first accident. The Elite plan either has a premium that decreases over time or does not have one. It also provides higher rental benefits and allows others to drive your bike. This plan can also cover old, one-of-a-kind, or slow cars.
Markel is the best bike insurance provider for mechanical failures because it is the only one on our ranking that pays to repair broken parts that fail due to wear and tear. In addition, Markel is among the few motorcycle insurance providers that would not penalize you for the first incident you cause and will reduce your deductible if you don’t file any claims.
Markel offers programs such as accident forgiveness and reduced deductibles. It also includes all of the standard motorcycle insurance options that most large insurers provide and some unusual extras. Some more unusual ones include agreed-upon-price settlements for customized bikes and coverage for mechanical problems, trailers, and burial expenses resulting from a motorcycle accident.
The last one pays for funeral expenses up to a specific sum for every covered person riding an insured motorcycle. The company also offers a bespoke bike option called Agreed settlement. Nationwide is our top pick for collector motorcycle insurance because it is one of the few firms covering up to 12 specialized motorcycles on a single policy with a high maximum.
Nationwide provides some of the highest coverage limits and free yearly policy evaluations to ensure your policy continues to fit your needs. Aside from Progressive, it is the only carrier providing $500,000 in bodily injury liability and uninsured/underinsured driver coverage per person and accident. Nationwide’s accident and comprehensive insurance both include a vanishing deductible.
If you do not submit a claim for a year, your deductibles will be reduced by $100, up to a maximum of $500. Other insurance providers provide coverage for custom bikes and tricycles. Nonetheless, Nationwide is one of the few that would cover up to 12 under single insurance for a minimum of $30,000 for custom parts and $50,000 per bike, plus trailer coverage.
Safeco is the finest motorcycle insurance company for DIY and kit motorbikes because it is the only company we researched that offers this type of coverage for some bikes. Even though Safeco does not provide many additional forms of coverage, its comprehensive collision insurance provides replacement cards of original manufactured parts.
Safeco, a Liberty Mutual firm, ensures a wide range of motorbikes, including those built from kits or at home. Its services also include roadside assistance and guaranteed repairs using original manufacturer parts. Aside from these advantages, Safeco allows you to personalize your plan with a few savings and other coverage alternatives. Because the organization is largely made up of agents, you must call to learn more.