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Motorcycle Insurance in Maryland: The Cheapest Quotes and Best Companies
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The Cheapest Motorcycle Insurance in Maryland
If you are looking for the cheapest motorcycle insurance in Maryland, you will find that liability-only policies cost significantly less than full coverage policies. However, a liability-only policy offers limited protections for you and your motorcycle. Consequently, this type of policy is not the best option for the average rider in Maryland. Liability-only coverage does not cover collision damage or any losses caused by theft, vandalism or other risks. This means that a full-coverage policy offers better protection for your asset in case of accidents or any other insurable risk.
For this analysis, the coverage used was for a good rider in Maryland with 50/100/25 liability-only coverage.
Cheapest Liability-Only Motorcycle Insurance Quotes in Maryland
For liability-only coverage, the cheapest motorcycle insurance companies in Maryland on average are:
- Progressive: $98 per year
- Harley-Davidson: $120 per year
Compared to the most expensive option, Markel, which costs $265 per year, Progressive is cheaper by 63%. This means that riders can save up to $167 yearly by comparing quotes from different insurers.
Average Annual Premium for Liability Coverage
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- CompanyAnnual Premium
- 1.Progressive$98
- 2.Harley-Davidson$120
- 3.Dairyland$121
- 4.GEICO$133
- 5.Nationwide$188
Cheapest Full Coverage Motorcycle Insurance Quotes in Maryland
For the average rider in Maryland, a full coverage policy offers better protection for you and your motorcycle. A full-coverage policy in Maryland will cover you for collision damage, whether the collision is against other vehicles or a structure. In case your motorcycle gets stolen, vandalized or lost due to risks such as fire, you will also be reimbursed for your loss. If you are making payments on your motorcycle, you may need to have a full coverage policy for your bike.
To find the cheapest full-coverage policy in Maryland, we used the profile of a good rider in Maryland with 50/100/25 coverage and a $500 deductible for comprehensive and collision coverage.
On average, the cheapest motorcycle insurance providers in Maryland for a full coverage policy are:
- Dairyland: $175 per year
- Progressive: $244 per year
The most expensive option, Nationwide, costs $753 per year. This is 76.8% more costly than Dairyland.
Average Annual Premium for Comprehensive and Collision
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- CompanyAnnual Premium
- 1.Dairyland$175
- 2.Progressive$244
- 3.Harley-Davidson$266
- 4.GEICO$390
- 5.Markel$410
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What Is the Average Motorcycle Insurance Cost in Maryland?
Apart from the coverage amount on your policy, the cost of motorcycle insurance in Maryland is also determined by other factors such as your age, riding experience, make and model of your motorcycle and your riding history. These factors will affect how much you pay in premiums for your insurance.
To determine the average cost of motorcycle insurance in Maryland, MoneyGeek collected quotes from different providers in the state.
The average rider in Maryland pays an average of $373 per year for a full coverage policy. Compared to the national average of $364 per year, Maryland is marginally cheaper by roughly $9 or 2% per year.
For a liability-only policy, riders in Maryland pay an average of $154 per year, which is $13 higher than the national average of $141 yearly. While a liability-only policy tends to be cheaper, the coverage it offers is limited and it does not offer you protection in cases where the accident is your fault.
Maryland averages were determined using a policy coverage with $50,000/$100,000 bodily injury coverage, $25,000 in property damage protection, a $500 deductible for full coverage policies and PIP, uninsured motorist and underinsured motorist coverage.
Car Insurance Costs by Coverage Type
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- Policy TypeAverage 12-Month Cost in MarylandAverage 12-Month National CostVariance
- Full Coverage$373$364$9
- Liability Only$154$141$13
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The Best Motorcycle Insurance Companies in Maryland
Using a comprehensive rating system that incorporates affordability, product offerings and financial stability scores, MoneyGeek ranked the best motorcycle insurance in Maryland. More information about the scoring can be found in our methodology. Based on the scores in these key categories, Progressive emerged as the best motorcycle insurance provider in Maryland.
MoneyGeek’s analysis found that the top three best motorcycle insurance providers in Maryland are:
1
Progressive
Score:96
Pros:
- Many discount opportunities available
- Wide range of extra coverages for a customized policy
- Fast and easy quotes online
Cons:
- Coverages can vary by state
- Discounts may not be available in all states
- Large Accident Forgiveness has strict eligibility requirements
More About Progressive
Progressive offers riders in Maryland the best combination of affordability and quality coverage, earning them a score of 95.56 points out of a possible 100. On average, you’ll pay $244 per year for a full coverage policy and $98 per year for a liability-only policy with Progressive.
Progressive offers customized coverages for riders in Maryland, including total loss coverage for brand new bikes, coverage for upgrades, customizations, equipment and accessories and enhanced injury protection if you are injured and unable to work. All these coverages provide riders with maximum protection for their assets at an affordable rate. Furthermore, Progressive offers customers ways to save on their rates. For example, paying on time, bundling coverages and being a responsible driver will help you reduce your premiums.
2
Harley-Davidson
Score:96
Pros:
- Replacement cost coverage with no depreciation for parts
- Wide range of coverage options for customized bikes
- Round the clock online claims handling
Cons:
- Cannot be bundled with other insurance
- Discounts and coverage options can vary from state to state
- Not the cheapest option
More About Harley-Davidson
Harley-Davidson scored highly on the MoneyGeek ranking system and earned a score of 95.54 out of 100 based on its scores in product offerings and service, affordability and financial stability. Harley-Davidson charges an average of $266 per year for a full coverage policy in Maryland and an average of $120 yearly for a liability-only policy.
Harley-Davidson is well-known for its motorcycles, but many people might not be aware that they also offer motorcycle insurance. The company offers riders in Maryland a wide range of coverages that are especially suited to those with custom bikes requiring extra protection for upgrades. This policy also comes with discounts for Harley Owners Group (HOG) members in Maryland and accident forgiveness, even for new policies that have been in effect for at least 12 months. Overall, Harley-Davidson knows motorcycles and provides coverage options to suit riders in Maryland.
3
Dairyland
Score:95
How to Get a Motorcycle Insurance Quote in Maryland
If you are looking for a motorcycle insurance quote in Maryland, you can easily get one online. Below is the information that you will need to provide the insurer with to get your online quote.
- Your address and ZIP code
- Personal details like your riding experience and your age
- The year, make and model of your motorcycle
- Optional coverages required (further details on coverage elections are below)
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How Much Motorcycle Insurance Coverage Do You Need in Maryland?
Maryland motorcycle insurance laws and requirements require riders in the state to have a liability policy with 30/60/15 coverages. To operate your motorcycle legally in Maryland, your motorcycle insurance policy must meet the following minimums:
- $30,000 per-person bodily injury liability
- $60,000 per-accident bodily injury liability
- $15,000 property damage liability
- Uninsured motorist coverage
- Underinsured motorist coverage
- Personal injury protection (PIP)
How Much Insurance Coverage Is Required in Maryland?
For riders in Maryland, the motorcycle insurance laws stipulate a 30/60/15 coverage. This means that you must have a minimum of $30,000 bodily injury liability per person, at least $60,000 coverage per accident and a property damage limit of at least $15,000.
Do You Need Uninsured Motorist, Underinsured Motorist or PIP Coverage in Maryland?
Maryland law mandates that riders in the state must have uninsured motorist coverage, underinsured motorist coverage and personal injury protection (PIP) in their motorcycle insurance policy. The uninsured/underinsured coverages provide protection for injury or property damage to yourself if the other vehicle’s driver does not have sufficient liability insurance. Requirements for uninsured/underinsured motorist coverage are 30/60/15, while $2,500 is required for PIP coverage.
MONEYGEEK EXPERT TIP
MoneyGeek recommends a full coverage policy for riders in Maryland because of the added protections that help to safeguard your asset. Ideally, you should have a full coverage policy of at least 50/100/25. However, you can also increase the coverage to 100/300/100 at a slight additional cost. Since Maryland also required riders in the state to have uninsured/underinsured motorist coverage, we also recommend that you get this coverage in an amount equivalent to your policy coverage. Furthermore, the PIP coverage minimum set by Maryland is at least $2,500 per person, but you can opt for higher limits.
Frequently Asked Questions About Motorcycle Insurance in Maryland
Getting motorcycle insurance in Maryland is easy since most insurers have online customer support. Some of the most frequently asked questions regarding motorcycle insurance in Maryland include:
The cheapest motorcycle insurance provider in Maryland for a full-coverage policy is Dairyland at $175 yearly, while the cheapest liability-only policy in Maryland is Progressive Insurance at $98 per year.
For most Maryland riders, the average cost of motorcycle insurance is $154 for a liability-only policy and $373 for full coverage.
The best motorcycle insurance provider in Maryland is Progressive. This insurer scores highest in Maryland in terms of affordability, product offerings and service and financial stability.
Yes, motorcycle insurance is required by law in Maryland. Riders in Maryland need to have a policy with at least 30/60/15 liability coverage to operate legally in the state. They also need to have uninsured/underinsured motorist coverage and PIP.
Compare Motorcycle Insurance Rates
Ensure you're getting the best rate for your motorcycle insurance. Compare quotes from the top insurance companies.
Methodology
For our analysis, MoneyGeek used varying coverage amounts and driver profiles to obtain motorcycle insurance quotes from insurers in Maryland. This data was used to determine the cheapest providers in Maryland. To identify the best motorcycle insurance companies in Maryland, we used a unique rating system with weighted scores given to each provider for policy cost in Maryland (60% weighting), product offerings and service (30% weighting) and financial stability metrics from AM Best (10% weighting). To ensure data accuracy, MoneyGeek obtained the most recent license laws and insurance coverage requirements in Maryland from the state DMV.
About Mark Fitzpatrick
sources
- Dairyland Insurance. "Motorcycle Insurance." Accessed May 9, 2021.
- Harley-Davidson. "Motorcycle Insurance Coverages." Accessed May 9, 2021.
- Insurance Information Institute. "2020 Insurance Fact Book." Accessed May 9, 2021.
- Maryland Government. "Motorcycle-Insurance-FAQs." Accessed May 9, 2021.
- Maryland Insurance Administration. "A Consumer Guide for Auto Insurance for Teens and Young Adult Drivers." Accessed May 18, 2021.
- Progressive Insurance. "Motorcycle Insurance." Accessed May 9, 2021.