Note: this ranking and the figures in it, such as market shares, revenues, market values and product terms, were compiled in 2023 and have not been re-checked since. Confirm current details with each company before you decide.
There’s a good likelihood that whatever kind of motorcycle you keep in your garage needs insurance. You must carry motorcycle insurance in almost all states, and it can be useful in a number of circumstances.
Motorcycle Insurance Companies – List of Top Motorcycle Insurance Companies In USA
Your insurance coverage is a crucial component of your motorbike setup, regardless of whether you are a seasoned rider or a first-time owner. There are a number of optional coverages, such as comprehensive and collision coverage, that are available in addition to the standard bodily injury liability coverage and property damage liability coverage that is included in motorcycle insurance policies to cover any harm you may cause to others.
It can be tough to choose motorcycle insurance coverage. How can you be sure you choose the best policy? When selecting a policy, there are a number of things to take into account, such as the cost, the extent of the coverage, any potential discounts, and the standing and viability of the insurance provider.
Progressive
Your motorbike insurance policy from Progressive offers accident forgiveness benefits, so even if you file a claim for less than $500, your premiums won’t go up.
PROS
- Waives off claims under $500.
- Original components and accessories can be covered with add-ons
- Lowering deductible with collision and comprehensive
- Includes carry-on items and full replacement cost coverage
Progressive policies come with free accessory coverage, choice of replacement parts, accident forgiveness, and deductibles that keep reducing, the longer you go without filing a claim.
Other add-ons that aren’t common in the sector are provided by Progressive. In contrast to the other insurers on this list, complete loss coverage for new motorcycles covers up to $3,000 in coverage for products you bring with you. On the contrary, enhanced injury protection ($250 a week for two years) offers coverage if you are hurt and unable to work.
Harley Davidson
For newbie riders, Harley-Davidson is the best provider of motorcycle insurance. Harley-Davidson offers one-stop shopping for bike loans, insurance, and extended service contracts if you’re insuring your first motorcycle.
PROS
- Extended Service Plans and Financing
- A long list of motorcycle models covered
- The cost of optional equipment replacement for complete losses
- Discounts for law enforcement, the armed forces, and seasoned riders
Motorcycle insurance and related goods, such as parts, bike loans, and planned maintenance insurance, are Harley-Davidson’s areas of expertise. For even more savings, new motorcyclists can combine these goods and services with the business’s motorcycle safety training discount.
Only Progressive can match the company’s selection of covered motorbike models and the incentives it provides.
Nationwide
The nation’s lowest motorcycle insurance prices are offered by Nationwide. Policies typically cost $49 per month, while some states have prices as low as $24 per month.
With a vanishing deductible, Nationwide assists riders in keeping their costs down while filing a claim. The deductible is reduced by $100 for each year without an accident.
Roadside support, OEM coverage, and bespoke equipment coverage are all options for bikers.
Reviews of Nationwide’s customer service, however, are conflicting. According to the National Association of Insurance Commissioners (NAIC), the company receives fewer complaints from customers than other businesses of similar size.
Dairyland
For riders who utilize their motorcycle as their primary mode of transportation, Dairyland is the ideal option due to its roadside assistance and rental reimbursement coverage.
Customers of Dairyland have peace of mind knowing that emergency roadside help is available; oil, fluid, fuel or water refills are only a phone call away. Additionally covered are services for mechanical or electrical issues, flat tires, poor batteries, and towing if repairs are required.
If you commute to work or perform other daily tasks on a bicycle, an accident or malfunction could ruin your life. During the time that your motorcycle is being repaired, Dairyland helps to cover the expense of a rental car.
Dairyland also provides replacement cost coverage for motorbikes that are less than three years old. Many other businesses have a mileage cap or have established a one-year cap on replacement coverage.
Foremost
The only insurer on this list that will ensure these specific consumers is our top recommendation for the best motorbike insurance provider for track riders. If a motorcycle is damaged or needs to be replaced due to an accident on the racetrack, track day coverage will cover the costs.
Foremost, a Farmers Insurance company provides many of the same coverages but with a better online user experience and more favorable pricing for its insurance products. As an illustration, Farmers only gives up to $7,500 in coverage for your transport trailer, but Foremost offers up to $10,000.
Three coverage options from the company—Saver, Plus, and Elite—can be combined to meet your needs. All three plans feature varying degrees of first-accident forgiveness and coverage for helmets and safety gear.
Markel
Markel is considered unique for its accident forgiveness and declining deductible programs (receive 25% off each year and pay nothing after four years), which include the option to cover your initial at-fault loss after four years accident-free.
Additionally, the organization provides a few special extras in addition to the typical motorcycle coverage choices provided by the majority of larger insurers, including accident, comprehensive, and medical payments.
An agreed-value settlement for custom motorcycles, covering technical issues, trailers, and burial costs resulting from a motorcycle accident are additional perks and add-ons.
SafeCo
All the common insurance options are available for a variety of motorcycle types through Safeco, a Liberty Mutual company, including coverage for custom and kit bikes. It also provides guaranteed manufacturer parts repair with comprehensive collision coverage, as well as roadside assistance, in all of its plans.
In addition to these benefits, Safeco also provides a small selection of savings and extra coverage choices. For instance, the Harley Davidson Replacement Cost Provision pays the real cash value of your Harley if it is involved in a total loss accident, and the Safety Apparel Coverage reimburses the replacement cost of your protective gear.
USAA
USAA doesn’t immediately provide coverage for motorcycles. It recommends Progressive, one of the leading providers of affordable motorbike insurance, to its customers. Despite this convoluted process for obtaining coverage, customers who enroll in USAA motorcycle insurance through Progressive are eligible for discounts that are exclusive to members of the armed forces, making a policy through Progressive even more inexpensive.
The fact that USAA offers motorcycle loans and funding for up to 100% of the price of your new bike is an additional advantage of purchasing motorbike insurance via them. For those looking to buy a new motorcycle, it acts as a one-stop shop.
Allstate
Although Allstate only insures four different types of motorbikes and excludes antique bikes, its coverage features are comparable to those of our top recommendations.
Allstate provides insurance for bicycles, tricycles, and scooters, however, it is unclear if it also covers other forms of motorcycles. Allstate offers loan/lease gap coverage, coverage for damaged motorcycles and off-road transport trailers, extended coverage for new motorcycles, and first accident forgiveness for qualified customers, in addition to all the discounts and coverage options you would expect from a motorcycle insurer.
Geico
Due to its inexpensive motorbike insurance rates and an extensive list of discounts, Geico is the ideal insurance provider for young drivers. For instance, teenage riders who pass the Military Safety Course or the Motorcycle Safety Foundation qualify for a 10% discount.
It does not, however, include several well-liked enhancements, such as OEM coverage.
