The Best and Cheapest Motorcycle Insurance Companies in New York

The Best and Cheapest Motorcycle Insurance Companies in New York

COVID-19 Update: If you're thinking about motorcycle insurance in the context of coronavirus, see below for information on how it affects New York motorcycle riders.

We collected hundreds of motorcycle insurance quotes across the state of New York and found that Geico offers the lowest price for their motorcycle insurance, especially for people who live in New York City. Geico offers their motorcycle insurance for $547 annually, making it the cheapest option in New York.

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Motorcycle insurance isn't just a legal requirement – for riders who have a lot invested in their bikes, it also offers protection from accidental damage both on and off the road. We took a closer look at New York's best motorcycle insurance options and how much they cost.

Best for most people: Nationwide

Nationwide is the best insurance company for riders in New York due to its great balance of affordability, coverage and service.
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Our top choice for motorcycle insurance for motorcyclists in New York state is Nationwide. It offered a very competitive rate across New York, with an average price of $598 per year. That's 38% less than the average we found across all insurers.

We were also impressed with Nationwide's customer service ratings and coverage options. It had an impressively low complaint index of 0.49 from the National Association of Insurance Commissioners (NAIC), meaning that it received about half as many complaints as a typical insurer. And it offers a nice array of coverage options and discounts, such as a "disappearing" deductible: For each year you go claim-free, your deductible goes down by $100.

As a major national insurer, Nationwide offers a broad range of insurance products, including home, auto and life insurance. You may be able to reduce your rate even more by bundling your insurance policies.

Best for lowest rates: Geico

Geico is the best bang for your buck insurance company due to its low prices and potential savings by bundling.
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Motorcyclists focused on getting the lowest price for motorcycle insurance should start with Geico. With an annual price of $547 for motorcycle insurance, it was 43% cheaper than the typical motorcycle insurer in New York. It was also $41 cheaper than Nationwide, our overall top pick.

Because of how expensive motorcycle insurance is in NYC, we recommend Geico to New York City residents, in particular. We found that motorcycle insurance costs in NYC are 130% higher than across New York state. With a citywide average of $1,148, Geico offers savings of $1,060 when compared to the typical NYC price.

However, Geico's coverage options and discounts available aren't as plentiful as other competing insurers. For example, it doesn't offer a discount for being in a motorcycle affinity group, or offer an OEM parts coverage option.

On the plus side, Geico has a wide variety of different insurance products, so you can bundle your motorcycle, car and home insurance policies together, if you want. Doing so does get you a discount, and it simplifies the process of managing your insurance policies.

Best coverage options: Markel

Markel offers the broadest range of additional coverages in New York, making it the best option for riders who want maximum protection.
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For motorcycle owners who want the best coverage options and are less focused on the lowest price, we recommend Markel insurance. For instance, Markel includes mechanical breakdown coverage for some motorcycles — which covers the cost to repair your motorcycle, even if the damage isn't due to a crash. And you can buy up to $30,000 of coverage for accessories and add-ons, too.

Its rates were not as affordable as our top picks, but still slightly cheaper than average — the typical price we found from Markel was $921, or $38 cheaper than the average, overall.

Markel's other downside is that as a specialty insurance company, it doesn't offer regular car insurance and the potential savings of a bundle deal. If you own a car in addition to your motorcycle, you'll need to find coverage for that vehicle with another insurer.

The best reviewed motorcycle insurance companies in New York

When considering motorcycle insurance companies, a low price shouldn't be your only consideration — customer service and financial stability matter, too. With that in mind, we collected the National Association of Insurance Commissioners Complaint Index and A.M. Best financial strength rating of five of the top New York motorcycle insurers. The NAIC complaint index measures how frequently a company is the subject of a complaint to the NAIC; the A.M. Best rating judges how sound a company's financial footing is.

NAIC complaint index
A.M. Best rating

Markel did not receive any personal passenger vehicle insurance complaints in 2018. However, as a specialty insurer, it also has a very small market share, so its score of 0 may be an anomaly.

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Note that the NAIC combines automobile and motorcycle insurance into a single industry category; as such, these complaint indexes are based on each company's combined premium dollars for motorcycles and cars.

The cheapest motorcycle insurance companies in New York

We collected hundreds of motorcycle insurance quotes across dozens of cities in New York to determine which motorcycle insurer offers the lowest rates. Geico offered the most affordable rates, with a typical price of $547 per year.

Column chart comparing the average costs of the most affordable motorcycle insurance companies in New York

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New York Motorcycle Insurance Requirements

All motorcycle riders in the state of New York are required to have liability insurance. Unlike with automobiles, motorcycle insurance policies are not required to include personal injury protection (PIP) or uninsured/underinsured motorist coverage. Below, we've included a breakdown of New York's motorcycle insurance requirements.

Coverage type
Minimum limit
Bodily Injury Liability$25,000 per person / $50,000 per accident
Death Liability$50,000 per person / $100,000 per accident
Property Damage Liability$10,000
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Coronavirus and motorcycle insurance in New York

The coronavirus has had a major impact on travel and insurance in New York, but it's not all bad news for motorcycle riders. Auto and motorcycle insurance claims have decreased significantly as most people stay home. As a result, insurers are giving refunds on previously-purchased policies, or discounts the next time you renew.

For example, our cheapest pick for motorcycle insurance in New York, Geico, is giving a 15% credit on policies up for renewal between April and October. Check with your insurer to see if you're eligible for a rebate or discount during this time.

Additionally, the New York Department of Financial Services is requiring that people who are experiencing financial hardship due to the coronavirus be allowed to defer paying motorcycle insurance (as well as auto and home insurance) premiums for up to 60 days.

Motorcycle insurance costs: City-by-city breakdown

To help New York motorcyclists get an accurate understanding of how much motorcycle insurance costs, we calculated the average cost of insurance in 84 cities and neighborhoods across the state. For each place, we've included the average cost, as well as how it compares to the statewide average cost.

Average cost
% difference from state average
Bayside, New York City$2,069.35100.13%
Brooklyn, New York City$2,504.0474.20%
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Study Methodology

We collected 420 motorcycle insurance quotes from five major motorcycle insurance companies that operate in New York state. Our sample rider was a 45-year-old man who rides a 2019 Harley-Davidson Street Glide. The coverage limits we included are:

  • Bodily injury liability coverage: $100,000 per person/$300,000 per accident
  • Property damage liability coverage: $50,000 per accident
  • Collision coverage: Included/$500 deductible
  • Comprehensive coverage: Included/$500 deductible
  • All other coverages: Not included

Matt is a Technical Writer at ValuePenguin who works on distilling the complex details of insurance into accessible advice. He previously created educational content at Grovo Learning and MarketSmiths Content Strategists. Matt's consumer-focused analysis of insurance has appeared in publications like CNBC, Yahoo Finance and the Miami Herald.

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.