How to Find the Best Motorcycle Insurance

There is nothing quite like hitting the blacktop under a cloudless blue sky while on the back of your motorcycle — miles of freedom await you. The hitch is finding the best motorcycle insurance that’s both affordable and that ticks off all your requirements.

Of course, you wouldn’t buy a bike that doesn’t suit you, so why purchase insurance that isn’t exactly what you want? So before you buy, it pays to shop around for the best motorcycle insurance quote to get the coverage you need.

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Motorcycle Insurance Requirements

Whether you’re riding leisurely or using your bike to get to work, there are a couple of motorcycle insurance requirements you should know:

Liability Coverage: Liability coverage is mandatory in almost every state; motorcycle insurance minimums match that of auto liability coverage minimums in your state. This coverage protects you from paying out-of-pocket if you’re responsible for an accident that injures a person, damages personal property, and has a pay-out cap per accident. The mean or average liability minimums are:
- Bodily Injury: $32,500 with a cap of $65,000 per accident.
- Personal Property: $15,000.
Uninsured/Underinsured Motorist Coverage: Not all states require you to have uninsured/underinsured motorist coverage. But it can be worthwhile to have, as it protects you from paying for repairs to your property or for personal injury should a driver without coverage hit you.

Note: It’s wise to consider carrying more than the required minimum liability coverage as not having enough coverage in a bad accident can put you at risk for a lawsuit. If you’re unsure how much liability coverage you need, ask an insurance professional for guidance.

Motorcycle Insurance Coverage Options

The best thing about insurance is that you start by selecting the policy requirements and then customize your motorcycle insurance policy to suit your specific needs with optional add-ons. Here are some motorcycle insurance add-ons you might want:

Collision: Having collision means that your insurance policy will cut a check for motorcycle damages — after you’ve paid the deductible.
Comprehensive: If you want total coverage while you’re on the road, comprehensive covers damage to your bike outside of a collision (including hitting an animal) or if your motorcycle is stolen — again after you pay your deductible first.
Personal Injury Protection (PIP): PIP protects you from paying out-of-pocket for medical expenses to you, passengers, or pedestrians due to an accident, regardless of fault. PIP varies by state, so check with your provider for details.
MedPay: MedPay is similar to PIP in that it helps pay for medical expenses if you’re in an accident, but where it differs is that it will also pay for lost wages or other associated costs. MedPay is ideal for policyholders that don’t have enough health insurance.
Roadside Assistance: Roadside assistance covers towing costs if your motorcycle breaks down.
Trip Interruption Coverage: If you’re involved in a collision more than 100 miles away from your house, this coverage will pay for your accommodations, food, and transportation.
Custom Accessories, Parts, or Equipment: Many riders customize their motorcycle with chrome and other accessories, so insurance companies started offering accessory coverage up to a certain dollar value (varies by state and policy).

Remember, all of these are optional add-ons to your insurance policy. You can pick and choose which (if any) make sense for you and your driving habits.

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Motorcycle Insurance When Your Bike Is Stolen, Destroyed, or Stored During Lay-Up Periods

Unless you live in a state that doesn’t have snow, there will be times when you “lay-up” your motorcycle — so, what happens then? Or worse, if your bike is stolen or damaged? Here’s what you need to know:

If Your Motorcycle Is Stolen or Destroyed: Sometimes the worst happens, and your bike is stolen or written off, in which case your pay-out will be one of these three options:
- Actual Cash Value: You’ll receive a check for the value of your motorcycle, minus the deductible and depreciation.
- Agreed Value: Your pay-out or motorcycle value is agreed upon when you take out the policy and you won’t need to pay a deductible. This policy is ideal for classic or custom rides.
- Stated Amount: Whatever payout value you picked out upon taking out the policy is what you’ll receive if something happens to your bike.
If Your Bike Is Away for Winter: Insurance premiums are much lower when your bike is stored during winter months. However, that doesn’t mean you won’t have insurance premiums, as insurance still covers your ride from vandalism or theft. But insurance won’t cover the damages if you take your motorcycle out during lay-up and get into an accident.

For many, it’s not feasible to ride their motorcycle year-round. But motorcycle insurance is year-round; you need to protect your bike while in storage, and you don’t want to risk a gap in coverage if you stop your insurance for part of the year.

How Much Is Motorcycle Insurance?

The average monthly premium for motorcycle insurance will set you back around $178. However, there are some things you want to keep in mind:

Premiums vary by state
Premiums vary per season (summer vs. winter)
Premiums vary depending on your policy options

Premiums are determined based on certain factors that ultimately vary depending on your insurer, but these are the typical considerations:

Your age
Your driving record
Where you live
The type of motorcycle you drive
How old the bike is
How many miles you put on annually
Where you store the bike when it’s not in use

Every insurance provider calculates insurance rates differently, which is why it’s so important to compare multiple quotes. More on that next.

How to Save on Motorcycle Insurance

There are ways to cut motorcycle insurance premiums, but these savings depend on your insurance provider. Here are some of the most common ways to shave a few bucks off your premiums:

Shop Around: As with any significant purchase, don’t just take out a policy with the first provider you call. It pays to shop around for the best coverage.
Raise Your Deductible: Paying the lowest deductible means you pay higher premiums, so by raising it, you can lower your premiums. Keep in mind that you’ll typically need to pay your deductible first before seeing any payouts, so you’ll want to be sure you can afford the deductible.
Bundle: Most insurance providers offer loyalty discounts for policyholders that bundle their motorcycle insurance with other insurance products, like auto or home insurance.
Clean Driving Record: As with auto insurance, you may be eligible for premium discounts if you maintain a blemish-free driving record.
Take a Motorcycle Training Class: Many insurers offer discounts to riders if they graduate from an accredited motorcycle training class. This may be especially helpful for riders under the age of 25.
Belong to a Motorcycle Group: If you belong to a motorcycle organization, you may be eligible for discounts, but be sure to ask your provider which organizations are applicable.
Lay-Ups: If you store your bike over the winter, you’ll see a drastic premium reduction. Although, be aware that if you hit the road while paying lay-up premiums and get into an accident, insurance won’t cover you.
Long-Time Rider: If you’re above 55 or have been riding a long time, inquire about a long-time rider’s discount.

There are always ways to find savings on your motorcycle insurance quote, but it’s up to you to find and ask for discounts. Start by getting a free quote from ConsumerCoverage and then find discounts on top of that.

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Get the Best Motorcycle Insurance Today

Nothing beats hitting the open road on a motorcycle, except maybe finding the right motorcycle insurance quote! It pays to know what to look for when shopping for the best motorcycle insurance, as it’ll get you back in the saddle sooner and give you peace of mind while riding.

Find the best motorcycle insurance quote today thanks to ConsumerCoverage. You’ll get access to free quotes that do the work for you to find you the best rate for your coverage needs.

Jessica Fox Jessica Fox has been a freelance writer for five years, with a specialty in health, wellness, and insurance. During this time, she’s written for some of the biggest B2B and B2C brands from around the world. Jessica is also the mother of two young daughters and loves coffee, writing, and working out.