The Best Motorcycle Insurance Companies & Policies for 2023

COMPANY HIGHLIGHTS

According to our research, Dairyland offers the most affordable full coverage policy. This level of coverage is crucial for people riding motorcycles that are being financed or those riding more expensive, high-end machines.

Full coverage insurance includes comprehensive and collision coverage, which covers your bike if it's stolen, damaged in an accident or tips over while parked or in storage. They provide full coverage benefits for all motorcycles, including mopeds and scooters. Dairyland offers year-round, full coverage for your bike, but they don’t require that you carry the policy when your bike is in storage. They do, however, remind you that there is still risk involved with a stored bike, which means anything from theft to floods to fire could destroy your motorcycle even if you have it stored for the winter.

COMPANY HIGHLIGHTS

Progressive is the best choice when it comes to affordable liability-only insurance coverage. This reduced level of coverage tends to be most beneficial to people riding motorcycles that are paid off or people choosing to ride a cheaper bike that they can afford to replace out of pocket.

Like liability-only auto insurance, liability coverage is what pays for any damage you may cause to another person or their property while riding your motorcycle. This level of coverage is typically the minimum required by law, though loan companies may require people paying off their bikes to carry full coverage insurance. Progressive offers the lowest rates on liability-only coverage. However, keep in mind that your rates are based on many factors, including your ticket and accident history, as well as how many years you’ve been riding a motorcycle.

Progressive makes it clear they know motorcycle riders tend to bear the brunt of the damage when it comes to accidents, which is a big part of why their liability premiums are so low.

COMPANY HIGHLIGHTS

Harley-Davidson is the best choice for motorcycle riders who want plenty of discounts on their coverage. Bought a new bike? That’s a discount. Are you a member of the Harley Owners Group (H.O.G.)? That’s a discount too. Harley-Davidson offers money off for property ownership, having a motorcycle endorsement on your driver's license, paying your premium on time, owning more than one motorcycle, military discounts and using anti-theft devices, to name a few. Harley-Davidson may not have the lowest rates on motorcycle insurance, but they offer so many opportunities for savings that you might find they offer the lowest rate in your situation. You will need to compare quotes to make sure you are getting the best possible rate.

COMPANY HIGHLIGHTS

GEICO is a common household name when it comes to car insurance, so it isn’t surprising that they also offer coverage for motorcycles. Riders who own sport bikes, motorcycles with high CC engines or bikes that have high accident rates will find that GEICO offers some of the best rates for their needs. Your traffic ticket and accident history can have a big impact on your insurance premiums, but GEICO offers some of the best available rates for motorcycle riders who have a blemished record as a rider. They also offer several discounts for motorcycle riders, including up to 10% for mature riders and people who renew their motorcycle policy with GEICO.

COMPANY HIGHLIGHTS

Every insurance company offers the same basic insurance coverages, including liability, comprehensive and collision. What makes Markel stand out is that they provide some of the best additional coverages available for motorcyclists. These include accessory, mechanical breakdown, trailer, funeral expense, passenger liability, roadside assistance, trip-interruption and rental reimbursement coverage. While funeral expense coverage may seem morbid, motorcyclists are 29 times more likely to die in a crash than passenger car occupants, so this is a valid consideration.

COMPANY HIGHLIGHTS

USAA almost always has the lowest available motorcycle insurance rates in every state, but they are only available to veterans, active military members and their families. While this coverage can be beneficial for those who qualify, there are only 1.3 million active military members, less than one-half of one percent of the U.S. population. Because USAA coverage is only available to a small minority of people, it usually isn’t included in most insurance company comparisons.