Having motorcycle insurance in Rhode Island is a legal requirement that can help protect riders from accidents and injuries. However, motorcycle insurance rates in Rhode Island can vary based on coverage and carrier. To help give riders the options that suit their needs, MoneyGeek examined the companies offering the best and cheapest motorcycle insurance in Rhode Island. Review the necessary coverages, various price points and best options you have to insure your motorcycle and protect your assets.
Motorcycle Insurance in Rhode Island: The Cheapest Quotes and Best Companies
The Cheapest Motorcycle Insurance in Rhode Island
The cheapest motorcycle insurance in Rhode Island consists of liability coverage. This alone cannot fully protect a rider in case of accidents, but it does cost significantly less. Getting full coverage, which includes comprehensive and collision coverage, might be a more expensive option, but it can protect riders if they get into or cause an accident. In MoneyGeek’s analysis of Rhode Island’s liability-only policies, a sample rider profile was used. This rider has a good riding history along with a 50/100/25 liability-only coverage.
Cheapest Liability-Only Motorcycle Insurance Quotes in Rhode Island
On average, the companies that offer the cheapest motorcycle insurance in Rhode Island for liability-only policies include:
- Dairyland: $192 per year
- Harley-Davidson: $244 per year
In contrast, the most expensive liability-only policy is offered by Nationwide, whose average cost stands at around $389 per year. The cheapest option, Dairyland, is 50.6% cheaper. This demonstrates why getting motorcycle insurance quotes in Rhode Island is a must before making a decision.
Average Annual Premium for Liability Coverage
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- CompanyAnnual Premium
Cheapest Full Coverage Motorcycle Insurance Quotes in Rhode Island
A full-coverage policy is the best option for Rhode Island riders who want better protection. It comes with everything a liability-only policy has, along with comprehensive and collision coverage. Comprehensive coverage protects damages to a motorcycle not caused by an accident, while collision coverage helps pay for accidents where you are at fault. Note that riders who are still making payments on their motorcycle are likely to be required to have full coverage insurance.
MoneyGeek’s analysis covered a Rhode Island rider with a good history and a 50/100/25 coverage with a $500 deductible for comprehensive and collision coverage. On average, the cheapest full coverage insurance policies in Rhode Island are offered by:
- Dairyland: $211 per year
- Harley-Davidson: $257 per year
Nationwide offers the most expensive full coverage insurance option in the state, costing an average of $1,238 per year. Dairyland’s average premium is 82.9% cheaper.
Average Annual Premium for Comprehensive and Collision
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- CompanyAnnual Premium
What Is the Average Motorcycle Insurance Cost in Rhode Island?
The average cost of motorcycle insurance in Rhode Island can vary based on a number of factors, such as the desired coverage, riding history and experience, age and motorcycle year, make and model. MoneyGeek gathered prices from various carriers in order to help riders get a rough estimate of motorcycle insurance rates in Rhode Island.
For full coverage motorcycle insurance policies, the average cost in Rhode Island stands at $565 per year or $47 per month. This is $201 or 36% higher than the state average.
On the other hand, liability-only policies cost an average of $288 per year or $24 per month. This is $147 per year more than the national average. While this option is cheaper than full coverage, it offers limited protection.
The average policy rates in Rhode Island were gathered with $50,000/$100,000 bodily injury coverage, $25,000 in property damage and a $500 deductible for full coverage policies in mind.
Car Insurance Costs by Coverage Type
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- Policy TypeAverage 12-Month Cost in Rhode IslandAverage 12-Month National CostVariance
- Full Coverage$565$364$201
- Liability Only$288$141$147
The Best Motorcycle Insurance Companies in Rhode Island
To find the best motorcycle insurance in Rhode Island, MoneyGeek used three criteria, including policy cost in Rhode Island, product offerings and service and financial stability. MoneyGeek analyzed multiple providers in Rhode Island to determine the best company. Based on the results, MoneyGeek found that Dairyland scored the highest and is the best insurer in Rhode Island.
- Discounts to members of riding clubs or motorcycle associations
- Insures high-risk riders
- Mobile app where policyholders can pay bills and review information
- Services not available in all states
- Not accredited by the Better Business Bureau
- No official claims response time promise
Ranking the highest in Rhode Island is Dairyland, scoring perfectly in affordability and getting a MoneyGeek score of 97 out of 100. Their full coverage motorcycle insurance policy following state minimums costs an average of $211 per year. On the other hand, their liability-only policies cost an average of $192 per year. Dairyland has established itself as an affordable insurance company in Rhode Island for high-risk riders. They offer riders a range of discounts with simple eligibility requirements, such as passing a safety course within the past five years, being part of a rider group and being a loyal policyholder for more than a year. Their motorcycle insurance includes coverages like bodily injury, property damage, medical expense, optional/special equipment, replacement cost, personal injury protection and more. They cover a range of motorcycles from Harley-Davidson and Honda to Suzuki and Yamaha, along with various motorcycle types to serve every rider.
- Policyholders can pay online
- Several payment options available, including monthly, quarterly and annual
- Many discounts available
- Not available in all states
- Standard auto insurance not offered
- Coverage options vary by state
Following Dairyland is Harley-Davidson, scoring 95.34 out of 100 in MoneyGeek’s ranking system. Liability-only policies from this insurer cost an average of $244 per year in Rhode Island, while their full coverage policies stand at around $257 per year on average. The small difference of $13 may easily convince riders to upgrade from a liability-only policy to full coverage. Harley-Davidson has been in the business for more than 20 years. They’re dedicated to serving riders by providing motorcycle insurance that keeps their unique needs in mind, from state-required liability insurance to the safety gear you wear. They even cover a wide variety of motorcycle types, such as cruisers, sport bikes, autocycles and more. The company also offers policyholders easy-to-get discounts. For instance, completing a riding class, having a good number of riding years and making payments on time are just a few simple eligibility requirements to get discounts.
- Vintage and antique bike coverage
- Extensive standard coverages
- OEM parts included in their standard policies
- Disappearing deductible not offered in all states
- Discounts not available in every state
- Large Accident Forgiveness not available in CA, NC and NY
Getting a MoneyGeek score of 91.16 out of 100, Progressive is also well-known for its affordability in Rhode Island. Their full coverage policies stand at an average of $404, while their liability-only policies cost $251 annually. Progressive is a well-established insurer across the country and is the 86th largest U.S. corporation by total revenue according to Fortune 500. Progressive’s motorcycle insurance is the most affordable for riders in Rhode Island who want comprehensive and affordable coverage. Riders with cruisers to vintage motorcycles can rely on Progressive, as they insure all types of motorcycle types. They also offer supplemental coverages for added protection, such as total loss coverage, Carried Contents coverage and enhanced injury protection. Policyholders can also take advantage of money-saving discounts if they meet certain criteria.
How to Get a Motorcycle Insurance Quote in Rhode Island
Rhode Island-based riders need to have a list of information prepared before they can get an online quote. Such information includes:
- The ZIP code and address
- The vehicle’s year, make and model
- The personal information of the rider, including riding record and experience level
- The insurance coverage elections, see below for more information
How Much Motorcycle Insurance Coverage Do You Need in Rhode Island?
In Rhode Island, motorcycle insurance is a legal requirement to ensure that riders have some form of protection while on the road. Rhode Island motorcycle insurance laws and requirements state that riders need to meet these minimum coverages:
- $25,000 in bodily injury liability per person
- $50,000 in bodily injury liability per accident
- $25,000 in property damage liability
How Much Insurance Coverage Is Required in Rhode Island?
Rhode Island’s minimum liability coverage for motorcycle insurance is 25/50/25. This is $25,000 in bodily injury liability limits per person, $50,000 in bodily injury liability limits for all persons injured in an accident and $25,000 in property damage liability. While this is the minimum, it’s best to get full coverage in order to stay fully protected.
Do You Need Uninsured Motorist, Underinsured Motorist or PIP Coverage in Rhode Island?
Rhode Island motorcycle insurance laws and requirements state that, at a minimum, riders need bodily injury and property damage liability coverage, but PIP, uninsured motorist or underinsured motorist coverages are optional.
While it may be tempting to stick to state minimums to save on costs, MoneyGeek recommends getting a full coverage policy of at least 50/100/25 or preferably 100/300/100 because of the small incremental cost for a large increase in coverage.
Frequently Asked Questions About Motorcycle Insurance in Rhode Island
Understanding motorcycle insurance rates in Rhode Island can be difficult for those who are new to insurance in general. Here are a few commonly asked questions about motorcycle insurance in the state.
MoneyGeek collected motorcycle insurance quotes in Rhode Island from various insurance providers in the state based on varying coverage amounts and driver profiles to provide riders with the cheapest motorcycle insurance rates in the area. The best motorcycle insurance companies in Rhode Island were determined using three factors, including policy cost in Rhode Island (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 Rhode Island were gathered from the state DMVs to ensure accurate and up-to-date information.
About the Author
- Fortune 500. "Progressive." Accessed May 6, 2021.
- Injury Prevention. "Motor vehicle driver injury and marital status: a cohort study with prospective and retrospective driver injuries." Accessed March 9, 2021.
- Insurance Information Institute. "2020 Insurance Fact Book." Accessed June 11, 2021.
- Insurance Information Institute. "Facts + Statistics: Teen drivers." Accessed March 5, 2021.
- State of Rhode Island Department of Business Regulation. "CONSUMERS GUIDE TO AUTO INSURANCE." Accessed May 6, 2021.