Motorcycle Insurance in New Jersey: The Cheapest Quotes and Best Companies

Generally, the cheapest insurance option for most riders is a policy that only meets the state’s minimum liability requirements. However, the least expensive motorcycle insurance in New Jersey may not always be the best choice. While liability insurance costs significantly less than a full-coverage plan, comprehensive and collision coverage insurance provides more protection and higher liability limits that come in handy after an accident. For this study, MoneyGeek used a rider with a good driving history and a 50/100/25 liability-only coverage plan.

For a good rider looking for liability-only motorcycle insurance in New Jersey, the most affordable carriers are:

• GEICO: $150 per year
• Progressive: $161 per year

The most expensive insurance carrier for this coverage level is Harley-Davidson. The average premium for Harley-Davidson liability-only motorcycle insurance in New Jersey costs $393 per year, 61.8% more than GEICO.

Average Annual Premium for Liability Coverage

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• Company
  Annual Premium
• 1.
  GEICO
  $150
• 2.
  Progressive
  $161
• 3.
  Dairyland
  $299
• 4.
  Markel
  $352
• 5.
  Harley-Davidson
  $393

Full-coverage motorcycle insurance in New Jersey is the best option for riders who want better protection. Aside from covering damages due to collisions, a full coverage policy also pays for your damages after a covered incident. It’s also important to keep in mind that full-coverage insurance is usually required if you’re still making payments on your bike.

MoneyGeek analyzed average rates for a rider with a good driving history, a 50/100/25 coverage policy and a $500 deductible for comprehensive and collision coverage. The cheapest options for this coverage are:

• Progressive: $457 per year
• Dairyland: $492 per year

The most expensive insurance provider for a full coverage policy in New Jersey is Markel, at $693 per year. That means you can save up to 34.1% by shopping around.

Average Annual Premium for Comprehensive and Collision

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• Company
  Annual Premium
• 1.
  Progressive
  $457
• 2.
  Dairyland
  $492
• 3.
  GEICO
  $557
• 4.
  Harley-Davidson
  $586
• 5.
  Markel
  $693

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The cost to insure a motorcycle in New Jersey is highly affected by multiple factors, such as coverage amounts, motorcycle model, riding record, age and years of riding experience. MoneyGeek collected and compared motorcycle insurance quotes in New Jersey from different companies offering coverage in the state.

For a 12-month period, the average cost of a full coverage policy in New Jersey is $557, or $46 per month. New Jersey riders tend to pay 34.6% more than the national average of $364.

The average cost of a liability-only motorcycle insurance plan in the state is $271 per 12-month period or $23 per month. The national average for this type of policy is $141, which means New Jersey riders typically pay 48% more. However, liability-only coverage does not cover your injuries or damage to your bike after an at-fault accident.

Policy coverage used to determine New Jersey averages were $50,000/$100,000 bodily injury coverage with $25,000 property damage, a $500 deductible for full coverage policies and PIP and Uninsured motorist minimum coverage requirements.

Car Insurance Costs by Coverage Type

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• Policy Type
  Average 12-Month Cost in New Jersey
  Average 12-Month National Cost
  Variance
• Full Coverage
  $557
  $364
  $193
• Liability Only
  $271
  $141
  $130

Compare Motorcycle Insurance Rates

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MoneyGeek used a unique rating system to determine the best motorcycle insurance in New Jersey. Final scores are based on motorcycle quote data unique to New Jersey, product offerings and selection, services and financial stability. Progressive got the highest score in the state.

The top three highest-scoring companies for motorcycle insurance in New Jersey are:

Expand All Rankings +

1

Progressive

Score:96

-

5/5

Affordability

4.7/5

User Satisfaction

4.5/5

Financial Stability

Geek Quick Take

Pros

• Affordable rates
• Accurate online quoting tool
• Various extra coverage options

Cons

• Latest J.D. power user satisfaction rating is below-average
• Not all discounts are available in all states
• Cheap annual premium for liability insurance is not available in all states

More About Progressive

High ratings across all categories helped Progressive gain a MoneyGeek score of 96.46 out of 100, making it the top insurer in New Jersey. The cost of a Progressive liability-only coverage motorcycle insurance is $161 per year on average. The company’s average annual rate for a full-coverage policy is $457.

Riders looking for a wide range of coverage may want to consider Progressive. The company’s motorcycle policies automatically cover custom parts and original equipment manufacturer (OEM) parts. Progressive also offers enhanced injury protection that pays riders up to $250 per week for two years if they incur injuries or cannot work because of a covered accident. In the event of death due to a fatal accident, the insurer pays beneficiaries $25,000. Safe and responsible riders get rewards in the form of discounts. Policyholders who qualify for the disappearing deductible can get 25% off their deductibles for every claim-free policy term.

2

Dairyland

Score:88

-

4.2/5

Affordability

4.7/5

User Satisfaction

4.5/5

Financial Stability

Geek Quick Take

Pros

• Has a mobile app and online quoting tool
• Flexible payment options
• Wide range of coverage options

Cons

• Not available in all states
• May be more expensive than other insurers in the state
• May have fewer discounts than other companies

More About Dairyland

Among the companies offering motorcycle insurance in New Jersey, Dairyland ranked second-best with a MoneyGeek score of 87.84 out of 100. The average cost of liability-only motorcycle insurance from Dairyland is $299 per year, while a full-coverage policy costs $492.

Dairyland provides a wide range of coverage options for various types of motorcycles. Getting extra coverage is also possible. For example, if you use your bike for long drives, trip interruption coverage covers incidents far from home. If you get into an accident while you are more than 100 miles away from home, Dairyland also helps with food, lodging, transportation and towing expenses. Dairyland’s roadside assistance coverage includes emergency roadside services in the event of a flat tire, bad battery, mechanical breakdown and electrical breakdown. The same coverage will also cover a tow service to the nearest qualified facility if you need repairs.

3

GEICO

Score:85

+

4.6/5

Affordability

3.3/5

User Satisfaction

5/5

Financial Stability

Geek Quick Take

Pros

• Useful mobile app
• Accurate online quoting tool
• Various payment channels and methods

Cons

• Average product offering and service ratings
• Discounts may not be available in all states
• Hard to find local agents

More About GEICO

With a MoneyGeek score of 84.90 out of 100, GEICO is the third-best ranking company in New Jersey. The average cost of a liability-only motorcycle insurance policy from GEICO is $150 per year. Meanwhile, the company’s full coverage insurance costs an average of $557 annually.

The convenience that GEICO offers its policyholder sets it apart from the competition. The company allows riders to get personalized quotes online. It also has a mobile app, which enables customers to obtain proof of insurance, pay bills and change coverage. If you choose comprehensive and collision coverage, your policy automatically covers the extra accessories you have in your bike. If you want to have available help for emergencies on the road, you can also purchase towing and labor coverage.

Riders can get motorcycle insurance quotes in New Jersey online. Insurance carriers will need some pieces of information to calculate your annual premium, including your:

• Birthdate
• ZIP code
• New Jersey address where your bike will be located
• Riding record
• Insurance coverage elections (for more information on this, see below)

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Motorcycle insurance in New Jersey is a state requirement. So, riders should be familiar with the state minimum liability limits. Your policy should have at least:

• $15,000 per-person bodily injury liability (BI)
• $30,000 per-accident bodily injury liability
• $5,000 property damage liability (PD)
• Uninsured motorist coverage (UM)
• Underinsured motorist coverage (UIM)
• Personal injury protection (PIP)

New Jersey motorcycle insurance laws and requirements include bodily injury and property damage coverage. Generally, riders can choose between two types of insurance policies. The first one is the basic policy, which has 10/10/5 limits. That stands for $10,000 for bodily injury per person and accident and $5,000 for property damage liability per accident. The second type of policy is the standard policy with 15/30/5 limits. Choosing this requires riders to have at least $15,000 for bodily injury liability per person, a total of $30,000 per accident and $5,000 for property damage liability. The limits refer to the maximum amount that the insurer will pay if you cause an accident.

New Jersey riders must have personal injury protection (PIP) coverage with at least $15,000 per person or accident. If you choose to purchase a standard policy, you should also have uninsured/underinsured motorist coverage. The limits will be up to the amounts you select for the liability coverage.

MONEYGEEK EXPERT TIP

For most riders in New Jersey, MoneyGeek recommends purchasing a full-coverage policy of at least 50/100/25. Ideally, we recommend you go with a 100/300/100 policy because of the small incremental cost for a large increase in coverage. The state also requires uninsured/underinsured motorist coverage for riders with a standard policy. MoneyGeek recommends matching these coverages to the policy coverage stated above. The state also requires PIP — for this coverage, MoneyGeek recommends the state minimum or higher limits if you can afford them.

There are various factors to consider when choosing the best motorcycle insurance in New Jersey. Below are some of the frequently asked questions about motorcycle insurance in the state:

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About Mark Fitzpatrick

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Mark Fitzpatrick is a senior content director at MoneyGeek with over five years of experience analyzing the insurance market, conducting original research and creating content that can be personalized for every buyer. He has been quoted on insurance topics in several publications, including CNBC, NBC News and Mashable.

Mark earned a master’s degree in Economics and International Relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his economics and insurance knowledge to bring transparency around financial topics and help others feel confident in their money moves.

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