Five Best Motorcycle Insurance Companies for 2022

Live fast and ride hard, but save a couple bucks while you’re at it.

byRyan Tronier| PUBLISHED May 5, 2022 3:13 AM
Five Best Motorcycle Insurance Companies for 2022
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They say four wheels move the body, but two wheels move the soul. While the best motorcycle insurance doesn’t have fun slogans or look good in leather, choosing the right provider could save you hundreds or thousands of dollars over the life of your motorcycle. So before you tap your kickstand and hit the open road, take a look at coverage options from the best insurance companies on the market.

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Best Insurance Companies for Motorcycles

  1. Best for Daily Drivers: Dairyland
  2. Best for New Drivers: Harley-Davidson
  3. Best for Track Riders: Foremost
  4. Best for Liability-Only Coverage: Progressive
  5. Best for Discounts: Harley-Davidson
  6. Best for Custom Motorcycles and Collectors: Markel
  7. Best for Military Servicemembers and Veterans: USAA

Best for Daily Drivers: Dairyland

Pros

  • Rental reimbursement
  • Discounts for both members of rider groups and Harley Ownership Group (H.O.G.)
  • Coverage for high-risk riders
  • Quotes available online

Cons

  • Guest passenger insurance not included with standard personal injury protection
  • Not available in all states

Summary

Frequent riders and those who rely on their bike for daily transportation will find comfort with Dairyland’s rental reimbursement coverage, 24-hour hotline for speedy claims processing, and roadside assistance.

Traffic accidents and breakdowns are unwelcome disruptions to riders who use their bike for the daily grind. This is why Dairyland reimburses policyholders for costs associated with a rental vehicle while waiting for repairs. And with its physical damage plus add-on, repairs are made with genuine original manufacturer replacement parts. Also, the insurer’s total loss replacement pays for replacement of motorcycles that are three years old or newer.

In addition to the usual lineup of coverage, Dairyland provides riders with options for specialty equipment, roadside assistance, and property damage. Yet, for those who frequently ride with a spouse or partner, guest passenger insurance will need to be purchased separately.

Homeowners and those who transfer their policy to Dairyland will enjoy added savings, as will members of the Harley Owners Group and other affiliated rider clubs (you can stack these two discounts). With 4.5 stars from Trustpilot, you can also expect competitive pricing and good customer service. 

Best for New Riders: Harley-Davidson Insurance

Pros

  • Specialized equipment coverage
  • Money-saving opportunities with multiple discounts
  • Financing, extended warranties, and maintenance plans also available
  • Quotes available online

Cons

  • No other types of insurance policies offered
  • Guest passenger insurance not included with standard personal injury protection
  • Not available in all states

Summary

New riders can find one-stop shopping with this iconic American motorcycle manufacturer. Not only can you purchase a bike directly from Harley-Davidson, but your local dealership also offers financing, extended warranties, and insurance policies that cover all types of motorcycles.

Few insurance companies understand riders and their bikes better than Harley-Davidson, which is why its insurance division specializes in motorcycle coverage. The downside of this specialization is that the company doesn’t provide any other types of insurance coverage. So people who prioritize saving money on their policy through bundling auto and homeowners insurance with their bike coverage may need to look elsewhere.

Still, Harley-Davidson Insurance also offers an outstanding selection of discounts to keep your premiums affordable. In fact, it has so many discounts, Harley-Davidson Insurance is also our pick for Best Motorcycle Insurance for Discounts. We’ll explore the savings in more detail below. Rest assured, this provider is a strong choice for both new riders and motorists who can take advantage of its multiple price reductions.

Harley-Davidson has the standard policies one expects from an insurer, but it also offers a robust menu of add ons to further customize your coverage. You can repair or replace snazzy aftermarket parts, as well as your bike’s stylish leather and paint job. It also offers rental reimbursement for when your motorcycle is being repaired and vacation rental coverage for those who just want a summer tour. Also, unlike other providers on this list, Harley-Davidson Insurance will provide an extended warranty for up to seven years and a maintenance plan.

Best for Track Riders: Foremost

Pros

  • Coverage for high-risk riders
  • Liability coverage includes towing, roadside assistance, and first accident forgiveness
  • Off-the-shelf packages available
  • Low-speed electric vehicle coverage

Cons

  • Limited discounts offered
  • Not available in all states
  • Limited information available on website

Summary

Track riders are a different breed. They’re daring and brave, and they need an insurer that is equally bold. Indeed, Foremost is one of several providers plucky enough to insure track riders, even on competition days. Foremost also provides policies for a variety of bikes, including vintage motorcycles and low-speed vehicles.

Foremost is a subsidiary of the well-known Farmers Insurance Company. Unlike its parent company, Foremost’s coverage comes in a variety of packages, including Saver, Plus, and Elite. Each package comes with its first accident forgiveness and towing and roadside assistance benefits. These perks are even extended to those who are purchasing Foremost’s liability-only plan. Yet, for those speeding their way around a racetrack, the Plus and Elite packages include its coveted track-day coverage.

The provider also has packages for vintage motorcycles that are 25 years old or older, custom bikes with more than $30,000 in optional equipment, and low-speed electric vehicles. Those speciality bikes, however, cannot enjoy Foremost’s total loss settlement that replaces bikes purchased new for up to five years (most insurers have a three-year threshold). You can also insure your motorcycle trailer, which is a nice touch for those with multiple bikes.

Despite all of the positives, those who look for discounts may be unimpressed. Foremost does not offer many savings opportunities outside of multi-vehicle, multi-policy (you can bundle Foremost and Farmers policies), and discounts for riders who have a motorcycle endorsement on their driver’s license. Still, high-risk riders may find Foremost cheaper than other insurers.

Best Liability-Only Coverage: Progressive

Pros

  • Total loss coverage for five years
  • Diminishing deductible included with comprehensive and collision
  • Money-saving opportunities with multiple discounts
  • Quotes available online, by phone, and in person

Cons

  • Not all discounts are available in all states

Summary

Progressive is a sound choice for all types of motorcycle riders, not just for those who are purchasing a liability-only policy, which is the minimum coverage required by most states. But with liability starting at only $75 a year, few will find better rates anywhere else.

Riders have a lot to like about Progressive. All policies include its full replacement cost with a no depreciation for parts benefit that restores your bike to pre-accident condition, without taking into account the depreciated loss in value for your parts. In fact, Progressive’s complimentary original equipment manufacturer (OEM) coverage ensures that you’ll get original parts when repairs need to be made.

This is why Progressive may be the best deal in town for liability-only coverage. Not only do you get access to the perks mentioned above, but liability policies start at $75 per year. Keep in mind that the price you get will depend on additional factors, such as your driving record and your bike’s value. Also, for those who financed a motorcycle, your lender might require full coverage until the loan is paid. But many drivers who own their bikes outright will find the rates ideal. 

Progressive also rivals Harley-Davidson when it comes to discounts. It also offers a wide variety of savings opportunities for those who make timely payments, sign up for automatic bill pay, or pay their annual premium in full. You’ll also get discounts for taking a motorcycle safety course and for being a member of a riding club. And unlike Harley-Davidson, you can bundle your motorcycle policy with homeowners and auto insurance to save even more.

Best for Discounts: Harley-Davidson

Pros

  • Specialized equipment coverage
  • Money-saving opportunities with multiple discounts
  • Financing, extended warranties, maintenance plans also available
  • Quotes available online

Cons

  • No other types of insurance policies offered
  • Guest passenger insurance not included with standard personal injury protection
  • Not available in all states

Summary

Harley-Davidson knows the motorcycle industry inside and out, which is why this venerable brand appears twice on my list. I chose it as the best for new riders and because of its extensive selection of discounts that help policyholders drive down the cost of their insurance policies without compromising on coverage.


Discounts are price reductions offered by insurance companies that help policyholders save money on their annual premiums. This is why deal seekers often evaluate a provider by the number of discounts they can take advantage of each year. The more discounts you have, the cheaper your monthly premium will be. 

Harley-Davidson Insurance offers more high-value discounts than any other insurance company. You’ll be treated to additional savings for buying a new bike, being an experienced rider or a homeowner, paying on time, and having an eligible anti-theft device. Similarly, you’ll get discounts for renewing your policy, being claim free or a member of the Harley Owners Group, and successfully completing its H-D Riding Academy Course. Veterans and active-duty service members also enjoy special savings, too.

Harely-Davidson insures all types of motorcycles, and coverage is available in most states (Alaska, Hawaii, and Washington, D.C. are not included). But if you live in a covered state, you will have protection in those excluded locations.

Best for Custom Motorcycle Owners and Collectors: Markel

Pros

  • Mechanical breakdown coverage
  • Generous 25 percent disappearing deductible
  • Funeral expense coverage

Cons

  • No mobile app
  • Not available in Massachusetts and North Carolina

Summary

Motorcycle collectors, riders with classic or custom bikes, and motorists with distinctive insurance needs might find Markel’s customizable coverage advantageous. While this provider is among the smaller companies on this list, Markel is a prestige service that might please a niche segment.

Apart from Markel’s accident forgiveness program and its diminishing deductible — it awards a 25 percent reduction on your deductible for each consecutive year without accidents — this boutique insurer provides the customary coverage you’d anticipate. But it also features some unique add-on coverage.

It’s these extras that may make Markel appealing to motorcycle collectors or policyholders who have engineered their own custom rides. Collectors with a vault of classic bikes will enjoy an agreed-value settlement that pays out the appraised value established at the beginning of your policy. For fully loaded bikes, you can purchase additional accessory coverage in $1,000 increments, up to a $30,000 maximum.

Everyday riders, or those with older bikes, may also find value in Markel’s mechanical breakdown coverage that pays for non-accident repairs due to normal wear and tear. When you add a wide range of discounts to its value statement, it’s no wonder that many consider Markel to be among the best motorcycle insurance companies on the market.

Best for Military Servicemembers and Veterans: USAA

Pros

  • Low-cost coverage
  • Coverage available to children, spouses, and former spouses of military service personnel 

Cons

  • Coverage not available to the general public

Summary

Eligible veterans and military service members will enjoy deep discounts on their motorcycle insurance through USAA. This provider generally has the lowest insurance premiums available, but not everyone can enjoy the savings.

Because of their sacrifice and service, veterans and military personnel enjoy benefits that are not available to the general population. One such well-deserved bonus is access to USAA Insurance, which provides some of the lowest insurance rates for homeowners, auto, life, health, and, of course, motorcycles. The good news is that children, spouses, and former spouses of military service members also qualify for coverage from this exclusive provider.

USAA provides eligible riders with four types of basic protections: comprehensive and collision, bodily injury and property damage liability, uninsured and underinsured motorist, and medical payments. Similarly, policyholders can further reduce the cost of their coverage through several discounts including completion of a safety course, responsible driving, and multi-policies.

USAA has contracted out its motorcycle insurance to Progressive. So, while you may not have access to all of Progressive’s policies and discounts, you will enjoy a flat 5 percent premium reduction on Progressive’s lowest prices. 

Average Cost of Motorcycle Insurance

One independent survey ballparks the average cost of motorcycle insurance to be about $700 annually in the U.S. Other sources estimate that average at about $1,000 per year. The reason for the variance is because, as with mortgage loan rates, the insurance premium you’ll get will be determined by your specific situation. In other words, your insurance rates will be largely based on your motorcycle’s dollar value and engine size and your personal policyholder profile. Other variables also impact what you’ll pay for insurance. These include:

  • Age and value of the motorcycle
  • Frequency of use
  • Where you live
  • Your claims history
  • Your driving record and experience

However, you can still lower the cost of monthly insurance premiums by comparing quotes and qualifying for as many policy discounts that your provider offers.

How to Save on Insurance

The first rule of saving money on an insurance policy is to shop around. Agreeing to the first quote you get can be an expensive mistake. As a rule of thumb, you should get quotes from three to five insurance companies. Shopping itself will fetch you a lower insurance rate.

Besides comparing quotes, here are a few more tips to save money on insurance.

  • Forgo full coverage: If you’re financing your bike, your lender probably requires full coverage until the loan is paid. But if you own your motorcycle outright, dropping full coverage can be an effective way to lower your monthly premiums. Keep in mind that by dropping collision and comprehensive, you’ll have to pay for repairs and personal injury out of pocket. But for lower-value bikes, the savings may be worth it.
  • Raise your deductible: Increasing your deductible is often the quickest way to lower your policy premium and keep your collision and comprehensive coverage. Plus, when you can afford more agreeable coverage, it’s simply a matter of setting the deductible back to its original value.
  • Join a riding club: Not only do some insurance providers offer savings to members of motorcycle clubs, a riding group is a unique opportunity to compare notes with other enthusiasts.
  • Bundle your policies: Most insurers will offer some form of multi-policy discount when you bundle policies for your home, car, and motorcycle together. Some providers even have bundle discounts for life insurance policies.
  • Take advantage of discounts: Choosing an insurance company that offers multiple opportunities for discounts can be a prudent move. 

Here’s how to look out for discounts and which ones I recommend. Each insurance company may have a different title for their discounts, and, certainly, individual providers each offer their own unique selection of discounts. But these common options will help keep your motorcycle insurance premiums low.

  • Multiple-bike discounts: For those who are lucky enough to have more than one bike in their garage, providers will often offer a discount when you insure them all.
  • Safe driving record: While the time frames will vary, many insurers offer savings to riders who have a clean driving record for anywhere between three and five years.
  • Home ownership: Many motorcycle insurers offer additional savings to homeowners, and you may even enjoy a multi-policy discount when you bundle your bike and homeowners policies.
  • Riding group member: Many providers understand there is safety in numbers, which is why you may earn savings for being a member of an insurer-affiliated club, such as H.O.G., American Legion Riders, Red Knights, LAMA, and GWRRA.
  • Motorcycle safety course: Drivers who complete a safety certification typically receive extra savings.
  • Installed safety devices: Motorcycles equipped with safety features, such as airbags or anti-lock brakes, will often enjoy discounted rates.
  • Transferred policies: If you take your business elsewhere, the new place might give you a good welcome discount.

Essential Cost Variables for Insurance

A host of variables can affect the cost of your insurance. 

Age

Young drivers pay more for insurance than older motorists because age is one of many cost variables that determine rates. In fact, one study found that teenage drivers pay more than 300 percent more than their grandparents.

Gender

Although insurance companies are coming under increasing scrutiny for using gender as a cost variable for insurance policies, research shows that women typically pay lower rates than men. This gender gap begins to balance out as motorists age. Several states including Hawaii, Michigan, and North Carolina have legislation in place prohibiting the use of gender to establish insurance costs.

Credit Score

Just as banks and credit-card issuers use your credit rating to determine your likelihood of paying back a loan, insurance providers use scores to forecast your probability of filing a claim. Generally, higher credit scores equal lower insurance premiums, while higher insurance rates go to those with a lower credit rating. According to one source, motorists with “very poor” credit pay more than $1,500 more for insurance each year than those with exceptional credit.

Location

Providers use a policyholder’s ZIP code to determine risk based on nearby crime rate, environmental threats, and traffic congestion. Additionally, since auto insurance is regulated by each state, your location is a determining factor in your minimum coverage requirements.

Data suggests that riders in states such as California and Louisiana pay, on average, more than $1,000 per year for motorcycle insurance. On the other hand, those living in North Dakota and Iowa may pay less than $400 annually for similar coverage. Additionally, drivers in rural areas will typically pay less than those in crowded metro areas.  

Type of Motorcycle

Insurance companies base the cost of your premium largely on the type of motorcycle you drive. Your bike’s value, age, engine capacity, and crash and theft rates are all used to calculate your premium. A bike with an engine of smaller displacement will cost much less to insure than a sports bike with larger displacement. Similarly, an expensive Harley-Davidson cruiser will cost more to insure than a used Yamaha dual sport.

Type of Coverage 

It’s no surprise that the amount of coverage and the size of your deductible will affect the cost of your motorcycle insurance. The more coverage you buy, the more you’ll pay. Similarly, the lower your deductible, the more you’ll pay. While most states require only liability, you’ll find an array of protection and add ons. Full coverage — which is liability, collision, and comprehensive — will obviously cost more than liability alone. When you add extras, however, such as total-loss replacement and roadside assistance, you’ll pay upwards of 30 to 40 percent more than you would for a standard full-coverage policy. 

While titles and premiums may vary by provider, these are the common types of motorcycle coverage:

  • Liability: Covers both vehicle damage and medical costs for others.
  • Personal injury protection: Covers damages to other’s property.
  • Collision: Covers damage to your motorcycle due to roadway accidents, regardless of fault.
  • Comprehensive: Covers damage unrelated to roadway accidents such as fire, vandalism, and theft.
  • Uninsured or underinsured motorist: Covers damage from other motorists.
  • Personal injury protection: Covers your medical costs and lost wages due to an accident.
  • Guest passenger liability insurance: While this coverage for your passenger is sometimes included alongside personal injury protection, its inclusion will depend on your provider. Unlike cars and RVs, which generally have more than one passenger, motorcyclists are often single riders. As such, some insurers will not automatically include passenger protection.

Talk to your agent to explore your options and consider limiting your policy to the protections that you think you’ll actually need.

FAQs

You’ve got questions. The Drive has answers.

Is full coverage on a motorcycle worth it?

As a rule of thumb, if your motorcycle is worth $5,000 or more, you should consider full coverage. If your bike is not worth $5,000, it’s likely that, over several years, the higher policy premiums will exceed the value of your vehicle. In this case, you may consider purchasing the minimum required liability insurance, forgoing collision and comprehensive, and paying for repairs out of pocket with the money you’ll save. 

A policyholder who rides a motorcycle daily or relies on one as their primary mode of transportation might see real value from full coverage. In this instance, rather than waiting on another driver’s insurance company or being sidelined by theft, you’re back on the road.

How can I lower my motorcycle insurance?

There are a number of ways to lower your motorcycle insurance, the simplest being to increase your deductible and reduce your coverage. Your deductible is the amount you’re responsible for paying when you file a claim. So, the higher your deductible, the lower your monthly premium costs. 

Furthermore, when your insurance policy has fewer coverage add ons, such as roadside assistance or total loss coverage, you’ll pay less to insure your motorcycle. Other common ways to lower the cost of motorcycle insurance include bundling multiple policies with a single insurance company, taking full advantage of any available discounts, and completing a safety certification course.

Can I cancel my motorcycle insurance for the winter?

Yes. Unless your state has mandatory year-round coverage, you can cancel your motorcycle insurance during the winter months. However, you might face early termination fees, and legally, you will be unable to ride. If you’re financing your bike, your lender may require coverage until the loan is paid. Your motorcycle also won’t be covered in the event of damage or theft. 

A better option to save money on your insurance during the winter is to enroll in “laid up” or “lay up” policies for bikes that are officially in storage. Lay-up policies basically pause liability and any other coverage you normally carry, but retain comprehensive coverage, which insures against theft, fire, and other non-accident damage. 

A third option to save money during the winter is to simply raise your deductible. Policyholders who raise their deductibles effectively lower the monthly cost of their premiums. It’s a low-effort strategy to pay less for insurance during the winter, without compromising your coverage or paying a termination penalty.

How does motorcycle insurance work?

Motorcycle insurance works similarly to auto insurance in that it protects the rider from financial liability should they cause an accident while on their bike. A motorcycle insurance policy might also insure against damages or losses due to theft, fire, or other hazards as well as bodily injury protection to cover medical expenses and lost wages. Some insurance companies also offer additional coverage for passengers, motorcycle accessories, carried contents, original equipment manufacturer parts, and more.

Our Methodology

To choose the best companies and products for this list, I looked at a large number of financial products from various providers. I focused on cost, product features and options, ease of use, customer service, and past customer ratings as the most important factors in our ratings.

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