Is motorcycle insurance expensive? Although motorcycle insurance is usually much cheaper than auto insurance, it can still be pricey. A younger motorcycle rider or someone who owns a sports bike will pay significantly more for insurance than other riders. MoneyGeek has calculated the average cost of motorcycle insurance nationally and by state and has put together a list of the companies that offer the most affordable coverage based on our quote data, allowing you to compare coverage and decide which plan is the best choice for you.
The Average Cost of Motorcycle Insurance in the US
Motorcycle insurance rates vary from state to state, but it can be helpful to know the national average rates. For example, the average liability-only motorcycle insurance coverage costs $141 per year, but increasing your policy to full coverage raises that rate to $364 annually. Don’t forget that other factors impact your rates, too — an 18-year-old with full coverage motorcycle insurance has an average annual premium of $1,064, while a 40-year-old who owns a sports bike would pay an average of $3,924 per year for full coverage.
Keep in mind that local laws aren’t the only factor determining how much insurance you need to carry. Motorcycle riders making payments on their bike will likely be required by their lender to have full coverage insurance.
Average Cost of Motorcycle Insurance
18-Year-Old Full Coverage
Sport Bikes Full Coverage
Average motorcycle insurance costs were determined by analyzing full coverage and liability-only insurance (50/100/25) quotes across all 50 states. The rider profile chosen was a 40-year-old with a good driving record riding a Honda Rebel 500. For young riders, an 18-year-old rider was selected. For sport bike coverage, we used a Honda CBR1000.
How Much Does Motorcycle Insurance Cost by Company?
Each insurance company has its own proprietary system for setting its rates, which means the cost of motorcycle insurance can vary significantly from company to company. Getting multiple motorcycle insurance quotes is one of the fastest, easiest ways to make sure you have the lowest possible rates for your insurance policy.
For example, Progressive has the lowest liability-only policy at roughly $108 per year, while Harley-Davidson has the highest liability-only rates at about $166 per year. However, when it comes to full coverage, Progressive and Dairyland tie for the lowest annual rates at an average of $267, while Nationwide’s annual rates are the highest at around $658.
Motorcycle Insurance Cost by Company
Each company sets its own rates, which means companies can sometimes have a difference of hundreds or even thousands of dollars in premiums each year. For example, the difference between full coverage premiums from Dairyland and Harley-Davidson is only roughly $35 per year, while the average difference between full coverage premiums for Progressive and Nationwide is an astounding $391.
MoneyGeek’s Recommendation for Best Motorcycle Insurance Company
The best motorcycle insurance companies provide excellent service and affordable coverage that meets your needs. After reviewing the average cost of policies, discounts and service ratings from J.D. Power for most major motorcycle providers, MoneyGeek recommends Progressive and Dairyland as the best overall motorcycle insurance companies.
Best Overall: Progressive
Progressive offers motorcycle coverage in all 50 states.
Beyond motorcycle coverage, Progressive sells dozens of types of insurance to their customers, allowing them to take advantage of policy bundling discounts.
Progressive’s customer service ratings are good, but they still come in second behind Dairyland for the best customer service and lowest number of complaints.
Progressive has some of the best rates on motorcycle insurance, along with a wide variety of coverage options, such as full replacement cost, roadside assistance and coverage for accessories and custom parts. They also have multiple available discounts, including a bundling discount, a motorcycle safety course discount and a homeowner discount. In addition, progressive offers coverage for almost any type of bike, including cruisers, custom bikes, dirt bikes and even ATVs and UTVs.
Second-Best Overall: Dairyland
Earns high scores in affordability (especially for full coverage) and customer service ratings.
Offers a 24-hour hotline for filing claims.
Dairyland is not available in all 50 states.
Company receives more claims than providers of a similar size.
Dairyland has low rates and outstanding customer service. Like Progressive, Dairyland offers multiple coverage options and a wide variety of discounts, including one for taking a rider safety course. The company allows you to choose a policy directly through their website or through an independent agent, whichever works best for you. Dairyland motorcycle insurance is only available in 42 states.
The Cost of Motorcycle Insurance by State
Your location has a significant impact on your motorcycle insurance rates. Moving to a new state or even to a new ZIP code can change your insurance rates, sometimes by hundreds of dollars each year. This is because insurance rates are determined by several factors, including local and state-level laws and regulations. Your rates can also go up or down based on the number of accidents in a given ZIP code, the availability of street parking or even just the number of people living in the area.
Average Cost of Motorcycle Insurance by State
10 States With the Most Expensive Motorcycle Insurance
The states with the highest rates for full coverage motorcycle insurance are New Jersey, Mississippi and Rhode Island. The weather in Mississippi allows people to ride motorcycles all year long, while New Jersey’s large, dense population means millions of people are all sharing the same roads, increasing the likelihood of an accident.
10 States With the Lowest Cost Motorcycle Insurance
The states with the lowest rates for full coverage motorcycle insurance are Alaska, North Dakota and Montana. All three states have cold, snowy winters, limiting the amount of time motorcycle riders spend on the road each year. In addition, Montana and North Dakota are both in the Midwest, which generally has lower insurance rates because the populations in those states are smaller and more spread out, reducing the likelihood of an accident.
How Much Does Age Impact Motorcycle Insurance Cost?
Motorcycle insurance for younger riders is significantly more expensive than coverage for more mature riders. In fact, it can sometimes be hard to find an insurance company that will cover riders under 18. Once a rider is 18, it becomes easier to find an insurance policy, but the cost is still very high. Because older riders tend to have more experience on the road, your motorcycle insurance costs will go down as you get older. For example, an average 16-year-old rider will pay 103% more for insurance than an average 40-year-old rider.
Average Cost of Motorcycle Insurance by Age
Full Coverage Annual Premium
How Does Your Motorcycle Choice Affect Motorcycle Insurance Cost?
Insurance rates are significantly higher for sport bikes, and for good reason. Insurance claims for sport bikes are more common and more costly than claims for more traditional motorcycles, which means insurance companies will charge higher premiums to compensate. There are many reasons sport bikes are more expensive to insure, including:
Sport bikes are faster than a standard motorcycle or ATV and more commonly owned by younger riders, which means sports bike owners are much more likely to file a claim than people who ride more traditional motorcycles.
Sport bikes are often more expensive to repair, making comprehensive or collision claims for sport bikes more costly than claims for other types of motorcycles.
Sporty, expensive motorcycles are more likely to be stolen than larger motorcycles, which means insurance companies are more likely to have to pay claims for theft.
Insurance companies work primarily off of statistics. And the statistics say that people who ride sport bikes are more prone to dangerous behavior on the road and more likely to be in an accident. Although there has been a decline in the number of motorcycle accidents over the last several years, insurance companies are still concerned — people in cars are more likely to be in an accident, but motorcyclists are more likely to have a fatal accident than people riding in a car.
Average Annual Cost of Cruiser Insurance by Model
Honda Rebel 500
Harley Davidson Sportglide
Yamaha V Star 250
Average Annual Cost of Touring Insurance by Model
Honda Gold Wing Tour
BMW S 1000 XR
Yamaha Tracer 900
Average Touring Bike
Average Annual Cost of Sport Bike Insurance by Model
Yamaha YZF R6
Average Sport Bike
Frequently Asked Questions About the Cost of Motorcycle Insurance
With so many options for motorcycle insurance, it can be challenging to choose which policy is the right one for you. MoneyGeek has included some of the most common questions people have about motorcycle insurance to help you find the policy that best suits your needs.
Learn More About Motorcycle Insurance
About Rachael Brennan
- Insurance Information Institute. "Facts + Statistics: Motorcycle Accidents." Accessed May 16, 2021.