Getting motorcycle insurance in Florida is a great way to protect yourself from unexpected expenses due to the damage or loss of your bike in a covered incident. MoneyGeek collected average rates across several coverage levels to find you the cheapest motorcycle insurance in Florida. Using a unique rating system, including affordability, products and services offered and financial stability, MoneyGeek ranked carriers to determine the best motorcycle insurance companies in Florida. Compare insurers and their average premiums to find the best company suitable for your needs as a rider.
Motorcycle Insurance in Florida: The Cheapest Quotes and Best Companies
The Cheapest Motorcycle Insurance in Florida
The most affordable option for motorcycle insurance in Florida is a policy that meets only the state’s minimum coverage limits for bodily injury and property damage liability insurance. While choosing a liability-only policy costs significantly less than full coverage, it may not always be the best option. Having comprehensive and collision coverage is usually the better option for most Florida riders as it provides more protection and higher liability limits. For this analysis, MoneyGeek evaluated rates for a good rider with 50/100/25 liability-only coverage.
Cheapest Liability-Only Motorcycle Insurance Quotes in Florida
MoneyGeek’s study shows that the cheapest liability-only motorcycle insurance policies in Florida are from:
- Markel: $58 per year
- Progressive: $70 per year
On the other hand, Dairyland charges the most expensive rate for liability-only motorcycle insurance. Its average rate in the state is $249 per year, 76.7% more expensive than Markel.
Average Annual Premium for Liability Coverage
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- CompanyAnnual Premium
Cheapest Full Coverage Motorcycle Insurance Quotes in Florida
If you want better protection, opting for a full coverage policy with comprehensive and collision insurance may be worth considering. This level of coverage will protect you against damages due to collisions with another vehicle or other structures. At the same time, it pays for damages to or the loss of your bike due to non-collision incidents like fire, theft or vandalism. Riders making payments on their motorcycles may need to buy a full coverage policy.
MoneyGeek used a good rider with 50/100/25 coverage and a $500 deductible for this analysis. Based on the research, the cheapest motorcycle insurance companies in Florida for full coverage are:
- Progressive: $200 per year
- Markel: $288 per year
Meanwhile, the company with the most expensive rate for a full coverage policy in Florida is Dairyland. The average rate of Dairyland policies with this level of coverage is $361 per year, which is 44.6% more than Progressive typically charges.
Average Annual Premium for Comprehensive and Collision
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- CompanyAnnual Premium
What Is the Average Motorcycle Insurance Cost in Florida?
Motorcycle insurance rates in Florida vary depending on certain factors, such as coverage amounts, motorcycle model, riding record, age and years of riding experience. MoneyGeek gathered and compared average motorcycle insurance premiums for different rider profiles from insurers offering coverage in Florida.
For full coverage motorcycle insurance in Florida, the average premium cost is $297 per year or approximately $25 per month. In comparison, this rate is $67 cheaper than the national average of $364 per year. That means Florida riders tend to pay 18.41% less for motorcycle insurance.
The average cost of liability-only insurance in the state is $135 per year or about $11 monthly. The national average is $141 per year, which means Florida has a 4.26% cheaper liability-only insurance rate. Liability-only insurance does not cover the policyholder’s motorcycle or injuries if they caused the accident.
Policy coverages used to determine Florida averages were $50,000/$100,000 in bodily injury coverage with $25,000 for property damage and a $500 deductible for full coverage policies.
Car Insurance Costs by Coverage Type
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- Policy TypeAverage 12-Month Cost in FloridaAverage 12-Month National CostVariance
- Full Coverage$297$364-$67
- Liability Only$135$141-$6
The Best Motorcycle Insurance Companies in Florida
To calculate the final rankings and determine the best motorcycle insurance in Florida, MoneyGeek used a unique rating system that includes products and services, affordability and financial stability. Based on the study, Progressive is the highest-scoring carrier in the state. Learn more about MoneyGeek’s methodology below.
The best motorcycle insurance companies in Florida are:
- Has a handy mobile app
- Online quoting tool
- Extra coverage options
- J.D. Power user satisfaction rating is below average
- Not all discounts are available in all states
- Cheap annual premium for basic liability is not available in all states
Garnering a MoneyGeek score of 96.25 out of 100, Progressive is in first place in our rankings. Its ranking is based on high ratings across all categories. The average cost of a Progressive liability-only insurance policy in Florida is $70 per year. Meanwhile, the company’s full coverage policy costs $200 on average. The wide range of coverages that Progressive offers makes it one of the most appealing options for Florida riders. It has unique features that may not be available from other insurers in the state. For instance, all Progressive motorcycle insurance policies automatically include custom parts and original equipment manufacturer (OEM) parts coverage. The enhanced injury protection feature will pay you up to $250 per week for two years if you get injured or cannot work due to a covered incident. If you have this coverage, the company will also pay your beneficiaries $25,000 if you die due to a fatal accident. There may also be different discounts available to eligible policyholders.
- Many different discounts available
- 24/7 claims support
- Online payment and claim filing
- Not available in all states
- Cannot be bundled with auto insurance
- Limited tools for customers
Markel, which got a MoneyGeek score of 87.45 out of 100, is the runner-up. The company has an average rate of $58 per year for liability-only motorcycle insurance in Florida. Meanwhile, its full coverage policy averages $288 per year. Markel policyholders have the option to add extra protection by getting additional coverages. For example, if you add $25 per year per unit, you can have roadside assistance and trip interruption coverage. Increasing that to $50 will include coverage for all private passengers, non-commercial vehicles and household vehicles in the nationwide roadside assistance program. You can also get rental reimbursement coverage, which will pay for your rental expenses if your motorcycle is unusable for over 24 hours because of a covered incident. Another advantage of Markel is its nine types of discounts. The transfer discount, for instance, will provide a 10% discount to riders who switch to Markel from another insurance provider.
- Online quotes and bill payment
- 24/7 claims filing via phone or internet
- Multiple discounts
- Can be more expensive than other insurers
- Cannot be bundled with your car insurance
- No mobile app
In third place is Harley-Davidson. It earned a MoneyGeek score of 83.5 out of 100. On average, the cost of a liability-only policy from Harley-Davidson is $199 per year. Meanwhile, the company’s full coverage policy in Florida costs an average of $289 per year. No matter the make and model of your bike, Harley-Davidson has a motorcycle insurance policy available for you. The company allows riders to get online motorcycle insurance quotes in Florida. Policyholders can also pay bills online. Harley-Davidson offers several different discounts, including those for riders whose bikes have safety features. The automatic accident forgiveness of this insurer is available for all its policyholders. This feature ensures that your annual premium will not increase if you make a claim at least 12 months after the start of your policy term.
How to Get a Motorcycle Insurance Quote in Florida
Florida riders can get motorcycle insurance quotes online. Insurance carriers will require some pieces of information to help them calculate your premiums. Here is what you will need:
- ZIP code
- Florida address where you keep your bike
- Motorcycle year, make and model
- Your birthdate and riding record
- Insurance coverage elections (for more information on this, see below)
How Much Motorcycle Insurance Coverage Do You Need in Florida?
When it comes to motorcycle insurance, riders need to know the minimum requirements for the state where they reside. Motorcycle insurance in Florida is not required by law. However, it is strongly recommended. Riders who do not have motorcycle insurance in Florida are more vulnerable to potential lawsuits if they cause damages or injuries due to an accident.
Florida riders can get a combined single limit policy with at least the following coverages:
- $10,000 per-person bodily injury liability (BI)
- $20,000 per-accident bodily injury liability
- $10,000 property damage liability (PD)
- Personal injury protection (PIP)
How Much Insurance Coverage Is Required in Florida?
Florida does not impose minimum coverage limits for riders as motorcycle insurance is not required in the state.
Do You Need Uninsured Motorist, Underinsured Motorist or PIP Coverage in Florida?
Motorcycle insurance in Florida is not required. While uninsured motorist, underinsured motorist and PIP coverage are not mandatory, riders can still purchase these coverages as part of their motorcycle insurance policies.
For most riders in Florida, MoneyGeek recommends a full coverage policy of at least 50/100/25 and preferably 100/300/100 because of the small incremental cost for a large increase in coverage.
Frequently Asked Questions About Motorcycle Insurance in Florida
Finding the best motorcycle insurance in Florida requires riders to consider various factors. Here are some of the most commonly asked questions about motorcycle insurance in the state.
MoneyGeek collected motorcycle insurance quotes directly from insurance providers based on varying coverage amounts and driver profiles to help our users determine which is the least expensive provider in Florida. The best motorcycle insurance companies in Florida were determined using three factors, including policy cost in Florida (60% weighting), product offerings and service (30% weighting) and financial stability metrics from AM Best (10% weighting). The most recent license laws and insurance coverage requirements in Florida were gathered from the state Highway Safety and Motor Vehicles unit to ensure accurate and up-to-date information.
About the Author
- Florida Highway Safety and Motor Vehicles. "Florida Insurance Requirements." Accessed May 13, 2021.
- Harley-Davidson Insurance. "The Right Motorcycle Insurance Coverage For You." Accessed May 13, 2021.
- Insurance Information Institute. "2020 Insurance Fact Book." Accessed May 12, 2021.
- J.D. Power. "2020 U.S. Auto Claims Satisfaction Study." Accessed May 12, 2021.
- Markel Insurance. "Motorcycle Insurance." Accessed May 12, 2021.
- Progressive. "Motorcycle Insurance." Accessed May 12, 2021.