In the United States, motorbike insurance typically costs $519 a year. However, according to information from J.D. Power’s NADAguides, prices can vary from $400 to $500 depending on a number of criteria.
Motorcycle insurance has state-mandated minimum liability standards and the option to purchase additional coverage, just like auto insurance. Similar to auto insurance, motorcycle insurance increases in cost as you get more coverage and reduce the amount of deductibles you’ll be responsible for paying in the event of an accident.
Average Cost of Motorcycle Insurance
In the United States, motorbike insurance typically costs $178 per month. Your fees may vary based on your state and the coverage options you select, as you can see below.
The price difference between coverage in cold-weather and warm-weather states is particularly pronounced. Riders are more inclined to ride their bikes more frequently in regions where the weather is warmer for longer, which increases the danger of an accident or other catastrophe.
In Wisconsin, for instance, you could anticipate paying $60 monthly or $720 annually. In contrast, the cost of motorcycle insurance in California is outrageous—$514, or $6,168 annually—more than eight times what it is on average in Wisconsin.
The averages are based on the minimal requirements for uninsured motorist protection, collision and comprehensive coverage with a $500 deductible, and motorcycle liability insurance in each state. For a Harley-Davidson Street Glide, average quotes were provided by Allstate, Geico, Progressive, and Travelers.
What determines the cost of motorcycle insurance?
Compared to car insurance, motorcycle insurance is less expensive. However, because it covers both your liability needs and the repair or replacement of your motorcycle in the event of damage, full coverage motorcycle insurance may become rather expensive.
Coverage type
The Insurance Information Institute states that the following five types of coverage are typically offered by motorbike insurance policies:
- Liability insurance provides compensation for injuries or property damage you may cause to others. Typically, a minimum coverage policy will only cover this.
- Collision insurance: Protection that, in the event of an accident, will cover damages to your motorcycle.
- Comprehensive insurance: Covers damage resulting from causes other than accidents, such as theft or vandalism.
- Modifications, components, and accessories for motorcycles: Some insurance policies may pay to repair and replace attachments like sidecars, trailers, and improved parts, while other forms of coverage will pay to cover riding gear (such jackets and helmets).
- Coverage for underinsured or uninsured drivers: If an underinsured or uninsured driver hurts you or your bike, this policy will pay for it.
- When you purchase the bare minimum required by your state, you just buy one of these five types of insurance. If you have inadequate insurance, you might have to pay these costs out of pocket if you are in an accident.
Gender and age
Less experienced drivers may anticipate paying more for motorbike insurance, similar to auto insurance. For example, 18-year-old drivers typically pay higher rates than someone with a clean driving record in their 30s.
The price of your insurance is influenced by your gender as well. According to J.D. Power research, an 18-year-old man getting an insurance at GEICO might pay $443, whereas a female obtaining the same coverage at the same business might only pay $339.
What Factors Affect Motorcycle Insurance Prices?
Your motorbike insurance costs will vary depending on things like:
- how old you are; generally, younger and older riders pay more
- How spotless is your driving history?
- your residence
- Your chosen motorbike model; high-performance motorcycles typically cost more to insure
- how old the motorcycle is
- Over the course of a year, the distance you ride is calculated.
- where you store your bike when not in use
What Is Covered by Motorcycle Insurance?
You probably have a solid idea of the kind of coverage you can obtain with motorbike insurance if you’ve ever bought a vehicle insurance policy. Both of these policy kinds have many similarities.
Liability coverage provided by motorcycle insurance safeguards you in the event that you cause harm to another person or damage to their property. In some locations, insurance companies also provide guest passenger coverage, which will protect you in the event that a rider is injured.
You must have at least a minimum amount of liability insurance in the majority of states.
There may be other motorbike insurance options, such as:
- If your motorcycle is damaged in an accident, collision coverage will cover the costs of repairs.
- When something other than a collision damages your motorcycle, such as theft or vandalism, bad weather, or a fire, comprehensive coverage kicks in to cover the costs.
- If an accident is caused by a driver who is underinsured or uninsured, your medical bills will be covered by unan insured/underinsured motorist policy.
- Customized parts are frequently added to motorcycles by their owners. Custom parts are typically not covered by a conventional comprehensive or collision insurance coverage, which may only pay to replace them with standard parts.
Ask your insurer if it provides separate coverage for customised parts if you want to ensure that your flashy chrome parts or other enhancements are completely covered.
The Average Cost of Motorcycle Insurance in the US
Although the cost of motorcycle insurance varies from state to state, being aware of the national average can be useful. For instance, upgrading your policy to full coverage will increase the average cost of liability-only motorbike insurance from $141 to $364 yearly. Remember that there are other factors that affect your rates as well. For example, a full coverage motorcycle insurance premium for an 18-year-old costs on average $1,064, whereas a full coverage premium for a 40-year-old who owns a sports bike costs on average $3,924.
Remember that other factors than local regulations affect how much insurance you must have. Lenders will probably want full coverage insurance from motorcycle owners who are making payments on their vehicle.
The average cost of motorcycle insurance was calculated by comparing quotes for liability-only insurance (50/100/25) and full coverage insurance from all 50 states. The chosen rider profile was a Honda Rebel 500 driven by a 40-year-old with a clean driving record. A cyclist who is 18 years old was chosen for the younger riders. For sport bike coverage, we used a Honda CBR1000.
How Much Does Motorcycle Insurance Cost by Company?
Since each insurance provider uses a unique proprietary system to determine its rates, there is a wide range of variation in the price of motorcycle insurance among providers. One of the quickest and simplest ways to guarantee you get the lowest prices for your insurance coverage is to obtain various motorbike insurance quotes.
For instance, Progressive offers the cheapest liability-only policy, costing around $108 a year, while Harley-Davidson charges the most, costing about $166 a year. However, when it comes to complete coverage, Nationwide has the highest yearly rates at about $658, while Progressive and Dairyland are tied for the lowest at an average of $267.
Each firm determines its own prices, so premiums might occasionally vary by hundreds or even thousands of dollars year. For instance, the average difference between full coverage premiums from Progressive and Nationwide is staggering $391, yet the difference between full coverage premiums from Dairyland and Harley-Davidson is only about $35 annually.
According to our data, the average annual cost of motorbike insurance is $538. However, rates vary based on your location, age, and the kind of bike you ride.
Biker enthusiasts love for the wide road and the rush of the ride. Having motorcycle insurance is as vital but not quite as exciting.
Most states need motorcycle insurance, but it can be pricey. How much is motorcycle insurance, you might be wondering if you’re looking for a new policy? And where can I find the best bargain? Good questions!
Similar to car insurance, the price of motorbike insurance varies depending on your needs from state to state, provider to provider, and even person to person. Let’s examine some of the information you’ll find while looking for motorbike insurance and how to get the best deal on all the coverage you require.
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