The Best Motorcycle Insurance Companies (2023)

The Best Motorcycle Insurance Companies (2023)

Nationwide has the best motorcycle insurance for cheap coverage, and Progressive has the best protection for custom bikes.

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Best motorcycle insurance companies

The best motorcycle insurance companies combine affordable prices, dependable customer service and useful coverage options.

We chose top-rated motorcycle insurance companies across different categories, making it easy to find one that best fits your needs.


Best cheap motorcycle insurance: Nationwide

Editor's rating

Monthly rate: $49 ?


Pros and cons

  • Cheapest rates, on average
  • Vanishing deductible
  • Lots of coverage options
  • Mixed customer service reviews

Nationwide has the cheapest motorcycle insurance rates in the country. On average, policies cost $49 per month, with rates as low as $24 per month in some states.

The company also offers lots of discounts, including:

  • Multipolicy discount
  • Multivehicle discount
  • Homeowner discount
  • Paid in full discount
  • Motorcycle safety course discount
  • Anti-lock brakes discount
  • Theft recovery device discount
  • Riding association membership discount

Nationwide helps riders keep their costs low when making a claim with a vanishing deductible. Each year that you are accident-free, the deductible goes down by $100.

Nationwide offers a number of coverage options to customize your policy. That makes it a good fit for most riders, not just those looking for cheap insurance.

Bikers can add custom equipment coverage, original equipment manufacturer (OEM) coverage and roadside assistance.

However, Nationwide has mixed customer service reviews. The company doesn't get many customer complaints — it only has half as many complaints as other companies of the same size, according to the National Association of Insurance Commissioners (NAIC). But J.D. Power gave Nationwide a subpar score on its annual claims satisfaction survey, which means it may take longer for riders to get back on the road after an accident.


Best for daily riders: Dairyland

Editor's rating

Monthly rate: $73 ?


Pros and cons

  • Comprehensive roadside assistance
  • Rental reimbursement
  • Lots of discounts
  • Expensive rates
  • Poor customer service

Dairyland's roadside assistance and rental reimbursement coverage make it the best choice for riders who use their motorcycle as their main vehicle.

Emergency roadside assistance gives Dairyland customers peace of mind — fuel, fluid, oil or water refills are just a phone call away. Coverage also includes service for flat tires, bad batteries, mechanical or electrical problems and tow service if repairs are needed.

If you ride your bike to get to work or for everyday activities, an accident or breakdown can derail your life. Dairyland helps cover the cost of a rental vehicle while your motorcycle is being repaired.

In addition, Dairyland offers replacement cost coverage for motorcycles that are less than 3 years old. Many other companies have a mileage limit or set a one-year cap on full replacement coverage.

Motorcycle insurance from Dairyland is expensive compared to other insurance companies.

At $73 per month, a full coverage policy from Dairyland costs $13 more per month than the national average. The company offers lots of discounts to help make coverage more affordable, including a homeowner discount and a transfer discount for switching to Dairyland.

Riders aren't thrilled with the service they receive from Dairyland, though. It receives nearly three times as many complaints as other insurance companies of a similar size, according to the NAIC. If you're in an accident, it may take longer to settle your claim with Dairyland compared to other companies.


Best for custom bikes: Progressive

Editor's rating

Monthly rate: $52 ?


Pros and cons

  • Affordable quotes
  • Basic policy includes extra coverage
  • OEM and custom parts coverage is included
  • Accident forgiveness
  • Unreliable customer service

Progressive's coverage options, many of which are included at no additional cost, make it a great choice for custom motorcycles.

All of Progressive's motorcycle insurance policies include full replacement cost coverage, which means your motorcycle will be restored to pre-accident condition without a deduction for wear and tear.

Another perk is Progressive's original equipment manufacturer (OEM) coverage, which guarantees that any original or custom parts on your bike will be replaced with the same parts. Progressive includes $3,000 of coverage for damage to custom parts, upgrades and customizations with collision and comprehensive coverage, along with the ability to raise the limit up to $30,000 if needed.

A full coverage policy from Progressive costs around $52 per month, which is $8 per month cheaper than average. Progressive also offers lots of discounts and an accident forgiveness program. If you have an accident after four years accident-free, the first one won't count against you, as long as the accident costs Progressive less than $500.

However, Progressive earned the second-lowest score on J.D. Power's customer satisfaction survey. That means that customers aren't impressed with the service they receive from Progressive, despite its low number of customer complaints.


Best for military veterans: USAA

Editor's rating


Pros and cons

  • Highly rated customer service
  • Military-specific discounts
  • Offers loan financing for bikes
  • Only available to bikers with military ties

USAA doesn't offer motorcycle insurance directly. It refers its members to Progressive, one of the best companies for cheap motorcycle insurance. Despite this roundabout method of getting coverage, those who sign up for USAA motorcycle insurance through Progressive get military-specific discounts, making a policy from Progressive even more affordable.

Another added benefit of getting motorcycle insurance through USAA is that it offers motorcycle loans and financing for up to 100% of the value of your new bike. Therefore, it serves as a one-stop shop for people who are purchasing a new motorcycle.

Besides motorcycles, USAA also provides insurance policies for ATVs, mopeds and scooters.

Many bikers can't buy USAA motorcycle insurance, though. It's only available to current and future military members, veterans and their families.


Best for collectors: Markel

Editor's rating

Monthly rate: $69 ?


Pros and cons

  • Covers many types of bikes
  • Diminishing deductible available
  • Offers lots of discounts
  • Rates are more expensive than average
  • Limited availability

Markel is great for motorcycle hobbyists — it offers multivehicle discounts and coverage for lots of motorcycle types. A full coverage policy from Markel costs an average of $69 per month, which is $9 more per month than average.

Motorcycle collectors can save money with Markel's multivehicle discount, which lowers your rate if you have more than one motorcycle insurance policy with Markel. It insures more motorcycle types than many other companies, making it easier for riders to take advantage of the multibike discount. Markel covers:

  • Cruisers
  • Sport bikes
  • Touring motorcycles
  • Sport-touring bikes
  • Big twins
  • Street bikes
  • Scooters
  • Mopeds
  • Dirt bikes
  • Trikes
  • Custom motorcycles

Markel is also a great choice for bikers with a vintage bike who are having trouble getting coverage elsewhere.

While Markel has features that make it great for enthusiasts, it also offers a way for safe motorcycle riders to save money through its diminishing deductible. Markel will reduce your deductible by 25% each year you avoid an accident, until it's $0. It's one of the best money-saving features for safe motorcycle riders with high deductibles.

One major drawback is Markel's limited availability. The company only sells motorcycle insurance in a handful of states which means most bikers can't get coverage.


Best for young riders: Geico

Editor's rating

Monthly rate: $51 ?


Pros and cons

  • Cheap rates
  • Offers multiple discounts
  • Allows payment in installments
  • Coverage options are limited

Geico is the best insurance company for young riders because it offers some of the most affordable motorcycle insurance quotes, along with a wide range of discounts. For example, young riders who complete a Motorcycle Safety Foundation or Military Safety Course get a 10% discount.

Geico allows drivers to customize their motorcycle insuranceto meet their needs, so policies don't automatically include complex options that young riders may not require.

However, it doesn't offer some popular upgrades , like original equipment manufacturer (OEM) coverage.

Geico also gives riders the option to pay their premium in installments instead of all at once. This is useful for young motorcycle riders who are on a budget and don't want to pay their annual rate in full up front. Keep in mind that you'll probably have to pay a small fee for each installment.


Best-rated motorcycle insurance companies

The best motorcycle insurance companies combine dependable service with affordable quotes and useful coverage options.

USAA is the best motorcycle insurance company for riders that are eligible.

However, only military members, veterans and their families can buy motorcycle insurance from USAA. Bikers that aren't eligible for USAA should consider Geico and Nationwide.

Best motorcycle insurance companies

Company
Editor's rating
J.D. Power
AM Best
USAA logo
USAA
909A++ (Superior)
Geico logo
Geico
881A++ (Superior)
Nationwide logo
Nationwide
876A+ (Superior)
Markel logo
Markel
NRA (Excellent)
Progressive logo
Progressive
862A+ (Superior)
Dairyland logo
Dairyland
NRA+ (Superior)

When you're shopping for motorcycle insurance, choosing a company with reliable customer service is just as important as finding the cheapest rate.

Great customer service can help make the claims process less stressful after an accident. On the other hand, companies with poor service reviews may take longer to process your claim, and you could end up paying more out of pocket.

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Frequently asked questions

What is the best motorcycle insurance company?

The best motorcycle insurance depends on your coverage needs, the type of motorcycle you have, your riding habits and where you live. For example, Nationwide has the best cheap quotes for most riders, but Progressive is the best company for custom bikes because of its OEM and custom parts coverage, while Geico is the best choice for young riders.

What is the cheapest motorcycle insurance company?

The most affordable motorcycle insurance comes from Nationwide — a policy costs $49 per month for full coverage, on average. Geico also offers cheap quotes at around $51 per month.

Does USAA have motorcycle insurance?

Yes, military members, veterans and their family members can buy motorcycle insurance from USAA. USAA doesn't write the motorcycle insurance policies, though — it refers riders to Progressive. However, you'll still get military-specific discounts, making coverage from Progressive even cheaper.

How expensive is motorcycle insurance?

The average cost of full coverage motorcycle insurance is $60 per month in the U.S. That's cheaper than car insurance, which costs $149 per month for a full coverage policy.

Methodology

We collected thousands of quotes from top insurance companies across the country to determine average rates. Quotes are based on a 50-year-old single male rider with good credit and a clean driving record.

Full coverage quotes include comprehensive and collision coverage with a $500 deductible, along with higher liability limits than the state requirements.

To choose the best insurance provider in each category, we analyzed the coverages offered, rates and available discounts.

Insurance company ratings from ValuePenguin editors, AM Best and J.D. Power were evaluated to determine the best companies.

  • ValuePenguin editor's ratings are based on customer service reviews, coverage availability and the overall quality a company provides its riders.
  • AM Best is a rating agency that analyzes companies based on their financial strength.
  • The J.D. Power 2021 U.S. Auto Claims Satisfaction Study provides an overall customer satisfaction rating index, which is based on a 1,000-point scale. Companies that received an NR in our table were not represented in the study data.

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.