Motorcycle insurance protects you and your bike from damage and theft while on the road. MoneyGeek analyzed the average rates across different coverage levels to ensure that you get the best motorcycle insurance in Illinois for your needs. By using a unique scoring system that comprises affordability, financial stability and products and services, MoneyGeek ranked the cheapest motorcycle insurance providers in Illinois to help you find the best coverage for your bike.
Motorcycle Insurance in Illinois: The Cheapest Quotes and Best Companies
The Cheapest Motorcycle Insurance in Illinois
The state’s minimum required liability coverage policy is typically the cheapest motorcycle insurance option in Illinois. Although a liability-only policy costs less than full coverage, it only covers third-party bodily injury and property damage liability costs. Comprehensive and collision coverage costs more but offers higher liability limits and protection for your injuries and repairs. MoneyGeek utilized the costs of a sample rider with a good riding record and a 50/100/25 liability-only policy.
Cheapest Liability-Only Motorcycle Insurance Quotes in Illinois
According to MoneyGeek’s research, the cheapest insurers for a good rider with liability-only coverage in Illinois are:
- Nationwide: $105 per year
- Markel: $138 per year
Dairyland has the highest motorcycle insurance rates in Illinois, at $283 per year on average. Motorists with a Dairyland policy pay 62.8% more than what Nationwide policyholders pay per year.
Average Annual Premium for Liability Coverage
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- CompanyAnnual Premium
Cheapest Full Coverage Motorcycle Insurance Quotes in Illinois
Full coverage motorcycle insurance is vital if you want to get higher coverage limits on your policy. With full coverage, you will receive protection from damage caused by collisions with structures or other vehicles. The policy also covers the loss or damage of your bike due to theft, vandalism, fire and other non-collision events.
As per MoneyGeek’s analysis, the cheapest insurers for a full coverage motorcycle insurance policy with 50/100/25 coverage and a deductible of $500 for a good rider are:
- Progressive: $305 per year
- Harley-Davidson: $330 per year
Markel has the highest average cost of full coverage motorcycle insurance in the state at $580 per year. That’s 47.4% more than the cheapest insurers. A full coverage policy may be the best option if you are still making payments on your motorcycle.
Average Annual Premium for Comprehensive and Collision
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- CompanyAnnual Premium
What Is the Average Motorcycle Insurance Cost in Illinois?
Various factors influence the average cost of motorcycle insurance in Illinois, including your age, riding record, experience, motorcycle model and coverage level. MoneyGeek used various rider profiles to collect and analyze motorcycle insurance quotes across multiple companies to determine its average scores.
On average, the cost of motorcycle insurance in Illinois for a full coverage policy is $417 per month or about $35 per month, which is $53 higher than the national average.
The cost of a liability-only motorcycle insurance policy is $176 per year on average or about $15 per month. That’s $35 more than the national average. While this is cheaper than a full coverage policy, it does not cover your injuries or bike if you get involved in an at-fault accident.
The above figures represent average rates for a policy that has a bodily injury liability coverage of $50,000/$100,000, a property damage coverage limit of $25,000, a deductible of $500 and minimum uninsured motorist coverage.
Car Insurance Costs by Coverage Type
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- Policy TypeAverage 12-Month Cost in IllinoisAverage 12-Month National CostVariance
- Full Coverage$417$364$53
- Liability Only$176$141$35
The Best Motorcycle Insurance Companies in Illinois
MoneyGeek’s scores help riders find an insurance provider that offers affordable and quality service. The unique scoring system comprises factors like financial stability, affordability and product offerings and services. The best motorcycle insurance provider in Illinois is Progressive, with a score of 94.38 out of 100.
Based on the MoneyGeek study, the best motorcycle insurance in Illinois is from:
- Wide array of additional coverage options
- Process your claims online
- Has a mobile app
- Responsible rider discounts restricted to three years of accident-free riding
- Not all discounts are available in all states
- Large Accident Forgiveness discount is only available to customers of at least four years
Progressive scored highly across all categories. It has the best MoneyGeek score of 94.38 out of 100. Riders pay an average of $144 per year for a liability-only policy and $305 for a full coverage policy. Progressive offers a wide range of extra coverages and discounts. Customers get attractive rates if they pay their premiums before their policy starts. They also get accident forgiveness coverage, which results in subsidized premiums. Insurance policies from Progressive cover full replacement costs and total loss coverage for new bikes. Customers may add more coverage for personal items that they carry on their motorbike. Additionally, you may qualify for a disappearing deductible, which lowers your deductible by 25% every year. Completing a safety course also lowers your rates significantly.
- Exceptional product offering and service scores
- Request quotes and make payment online
- Numerous discount options
- Cannot be used to insure certain types of bikes
- One of the lowest liability scores in Illinois
- No mobile app
Harley-Davidson is the next-best motorcycle insurance provider in Illinois, with a score of 89.56 out of 100. It has the highest total product and service score. Customers pay $229 per year on average for a liability-only policy and $330 per year for a full coverage policy. The company has several coverage options besides standard coverage. Customers enjoy several discount options, such as the homeowners and multiple bike discounts. If you are interested in roadside assistance, you can select from several options. Harley-Davidson also offers vandalism and theft coverage.
- Highest financial stability score
- Online quote process
- Flexible payment terms and platforms
- 24/7 customer support
- Discounts not available in all states
- Accessories coverage restricted to comprehensive and collision coverage
GEICO is the third-best insurer in Illinois, with an 83.74 out of 100 score. The average cost for a liability-only policy from the company is $156 per year, while a full-coverage policy costs $369 per year. GEICO allows users to carry out most transactions through the company’s app. You can save up to 10% of your premium on various discounts, such as when you transfer your motorcycle insurance to GEICO from another insurer and if you are an experienced rider. Customers get a discount after completing a safety course and a waiver of up to 20% if they renew their policy with the company. You can also save money by bundling motorcycle coverage with your GEICO auto insurance.
How to Get a Motorcycle Insurance Quote in Illinois
Motorcycle insurance rates in Illinois depend on several factors, including your age and riding record. The best way to find lower rates is by comparing quotes between several companies. Insurers allow you to request a quote online, but there is some information that you must provide, including:
- Your birthdate
- Year, make and model of your motorcycle
- Riding history and experience
- ZIP code and address where you will keep the bike
- Insurance coverage elections (check below for more information)
How Much Motorcycle Insurance Coverage Do You Need in Illinois?
According to the Illinois motorcycle laws and requirements, every rider must have at least a minimum liability-only motorcycle insurance policy. The state minimum requirements are:
- $25,000 per person bodily injury liability
- $50,000 per accident bodily injury liability
- $20,000 property damage liability
- Uninsured motorist coverage
- Underinsured motorist coverage
How Much Insurance Coverage Is Required in Illinois?
The minimum liability-only coverage limit for motorcycles in Illinois is 25/50/20. If you purchase a liability-only policy, it should have at least $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident and $20,000 as property damage liability coverage. The limits represent the maximum amount your insurer will pay against your claims should you cause an at-fault accident.
Do You Need Uninsured Motorist, Underinsured Motorist or PIP Coverage in Illinois?
In addition to bodily injury and property damage liability coverage, all riders in Illinois require uninsured motorist and underinsured motorist coverage as part of their minimum liability insurance policy.
MoneyGeek recommends full coverage of 50/100/25 for most riders instead of a liability-only policy. A 100/300/100 coverage limit is even better due to the relatively minimal increase in the cost of coverage. While purchasing motorcycle insurance coverage in Illinois, you will also need to get uninsured and underinsured motorist coverage.
Frequently Asked Questions About Motorcycle Insurance in Illinois
The cost of motorcycle insurance in Illinois varies depending on several factors. Some of the common questions about motorcycle insurance in the state include:
To help you differentiate the cheapest motorcycle insurance providers from the most expensive, Moneygeek used quotes sourced from various providers at different coverage levels to determine the average rates for each insurer. The main factors used to determine scores in this study are policy costs (60% weighting), AM Best’s financial stability rating (10%) and product offerings and service (30%). MoneyGeek obtained the state’s laws and requirements from the DMV to ensure you get accurate and up-to-date information.
About the Author
- Progressive. "Motorcycle Insurance." Accessed May 8, 2021.
- Harley-Davidson Insurance. "The right motorcycle insurance coverage for you." Accessed May 8, 2021.
- GEICO. "You could save money on motorcycle insurance." Accessed May 8, 2021.
- Insurance Information Institute. "2020 Insurance Fact Book." Accessed May 8, 2021.