How much is motorcycle insurance?

motorcycle insurance

According to our team’s cost analysis, motorcycle insurance premiums can cost as little as $85 per year for minimum coverage and $245 per year for full coverage.

Knowing how much you should pay for motorcycle insurance can make the shopping process go smoothly. Prices vary by motorcycle and rider, but the MarketWatch Guides team researched the average cost of motorcycle insurance for the top motorcycle insurance options across the country. Learn more about average motorcycle insurance rates and compare rates.

Motorcycle Insurance Cost

Motorcycle insurance can cost anywhere from $85 per year to $2,534 per year, depending on your coverage, the provider you choose, and your driving profile. Below we break down the average motorcycle insurance rates for minimum and full coverage for a variety of bikes, along with quotes from leading providers.

Minimum Coverage Motorcycle Insurance Cost

According to quotes from leading motorcycle insurers, the average cost of minimum coverage motorcycle insurance is $156 per year or $13 per month. However, this varies greatly depending on your bike. Below we summarize the average prices for standard, sport, and touring bikes.

  • Standard Bike: $91 per year or $8 per month
  • Sport Bike: $136 per year or $11 per month
  • Touring Bike: $241 per year or $20 per month

The table below summarizes quotes from leading motorcycle insurers so you can compare.

Motorcycle Insurance
Provider
Standard Bike
Annual Premium
Sports Bike
Annual Premium
Touring Bike
Annual Premium
Progressive $85.23 $142.37 $252.27
Geico $85.34 $123.25 $215.32
Dairyland $98.26 $136.86 $262.91
Allstate $97.00 $141.00 $234.00

Note: For the quote above, we selected a minimum coverage of $30,000 bodily injury liability limit per person, $60,000 bodily injury liability limit per accident, and $25,000 property damage liability limit per accident. is All of these estimates also apply to low-risk riders who have not had an accident in the past three years. Motorcycle prices are divided into Standard (2017 Yamaha SR400 with 399cc engine), Sport (2020 Suzuki GSX-R600 with 599cc engine), and Touring (2020 Honda Goldwing F6B with 1,832cc engine) motorcycle models. .

Full coverage motorcycle insurance cost

Full coverage costs significantly more than minimum motorcycle coverage, averaging $948 per year or $79 per month. As with the minimum cost of coverage, the cost will vary depending on the type of bike and the company you choose. We’ve broken down the average price of each type of motorcycle below.

  • Standard motorcycle: $1,376 per year or $115 per month.
  • Sports Motorcycle: $1,600 per year or $133 per month
  • Touring Motorcycle: $900 per year or $75 per month

Below you can compare motorcycle prices from leading insurers:

Insurance
Provider
Standard Bike
Annual Premium
Sports Bike
Annual Premium
Touring Bike
Annual Premium
Progressive $384.43 $1,269.53 $1,048.20
Geico $312.31 $1,191.31 $641.44
Dairyland $244.81 $1,407.89 $875.74
Allstate $434.00 $2,534.00 $1,034.00

Note: The quote above includes a $100,000 bodily injury liability limit per person, a $300,000 bodily injury liability limit per accident, and a $50,000 property damage liability limit per accident. Collision and comprehensive insurance cover the original cash value of your motorcycle minus a $500 deductible. All of these estimates also apply to low-risk riders who have not had an accident in the past three years. Motorcycle prices are divided into Standard (2017 Yamaha SR400 with 399cc engine), Sport (2020 Suzuki GSX-R600 with 599cc engine), and Touring (2020 Honda Goldwing F6B with 1,832cc engine) motorcycle models…

Comprehensive coverage combines comprehensive and collision coverage to pay to repair your bike after an accident or collision with a stationary object. Full coverage motorcycle insurance rates may seem expensive, but it may be wise to get more than your state’s minimum coverage requirements. Full coverage may not be necessary for your needs, but at least coverage won’t repair your bike if it’s damaged in an accident.

Source: Geico

Factors Affecting Motorcycle Insurance Premiums

Motorcycle insurance rates are constantly changing. Without getting a motorcycle insurance quote you can’t know exactly how much you will pay, but the following factors play a role in determining your rate.

  • Age: Drivers under the age of 25 are likely to pay higher insurance premiums.
  • Gender: Women generally pay less for motorcycle insurance than men.
  • Marital Status: Single drivers are generally charged more than married drivers.
  • Experience: Drivers with years of experience on the road pay less.
  • Driving record: You pay less if you have no traffic violations or accidents on your record.
  • Credit Score: The higher your credit score, the lower your annual premium will generally be.
  • Where you live: Expect higher rates in states like New York, Texas and Michigan. Congested cities, large numbers of uninsured drivers, and strict coverage standards don’t make motorcycle insurance cheap in these states.
  • Winter weather: Harsh winter weather can lead to lower usage and lower prices compared to motorcycle insurance in California,
  • Florida and other warmer states.
  • Type of motorcycle: Sport motorcycles are generally the most expensive to insure and touring motorcycles are the least expensive.
  • Motorcycles and three-wheelers are separate models, so prices may vary.
  • Model-specific factors: The model’s price tag, engine size, motorcycle safety standards, accident rates, and the number of incidents of theft and vandalism will all affect how much you pay.
  • Type of use: Motorcycle insurance is cheaper if you use it recreationally than for daily use.
  • Types of coverage: Comprehensive motorcycle insurance plans cost more.
  • Deductible: The lower your deductible, the higher your premiums are likely to be.

How to Reduce Your Motorcycle Insurance Costs

Motorcycle insurance prices vary depending on the provider and the factors mentioned above, but there are a few ways motorcyclists can save money on their insurance.

To reduce the amount of money your motorcycle insurance is draining from your bank account each year, consider these tips:

  • Choose a reasonably priced bike. As your motorcycle decreases in value, your premium will reflect that.
  • Look for safety features. If your motorcycle meets strict safety standards, has a smaller engine, or includes anti-lock brakes and anti-theft devices, your premium may be lower.
  • Reduce your annual mileage. Motorcycle insurance is cheaper for those who ride less.
  • Increase your deductible. The higher your deductible, the lower your insurance cost.
  • Look for discounts. Insurers often offer a variety of discounts.
  • Take motorcycle safety classes. Those who enroll in a rider safety course can save money on their insurance.
  • Join a riding group. Harley Owners Group members and other biker club members may qualify for lower rates.
  • Pick a bundle policy. Expect multi-insurance discounts if you bundle your homeowners, renters, or car with your motorcycle insurance.
  • Compare motorcycle insurance quotes. Get quotes from providers to find the service provider that fits your cost and coverage needs.

*Data accurate at the time of publication.

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