Motorcycle Insurance: What It Is And What It Covers

Motorcycle insurance is very important, especially if you are always on the road. Just like car insurance, motorcycle insurance is meant to protect you and your bike from financial losses. These financial losses can be caused by an accident, vandalism, or theft.

Motorcycle Insurance: What It Is And What It Covers

Aside from that, motorcycle insurance protects you from liability. In a situation where you damage someone else’s property or cause injury to others, your motorbike insurance policy will cover it.

One reason why you should get motorbike insurance is so that your insurer can pay to repair or replace your bike, gear, or other components in your car after an accident.

When purchasing motorbike insurance, you should take into consideration the discounts, coverage, collision claims processes, complaints, and ease of getting quotes.

Even if you are a first-time motorcycle owner or a veteran rider, your motorcycle must be insured. However, there is optional coverage available as well. For instance, there is collision coverage and comprehensive coverage.

What is Motorcycle Insurance?

Motorcycle insurance, also known as motorbike insurance, is a type of financial coverage designed to protect motorcycle owners from financial losses associated with accidents, theft, or other unforeseen events involving their motorcycles. Like auto insurance, motorbike insurance provides a range of coverage options to suit the needs of the policyholder.

How Much is Motorcycle Insurance?

The cost of motorcycle insurance is determined by several factors. Most insurance companies use these factors to charge for motorbike insurance. These factors include location, driving history, credit score, average usage, type of bike, age, gender, and requested coverage.

However, the average cost of motorbike insurance is $209 per month. However, it is advisable to always compare policies and always read the fine print before choosing an insurance company.

Why is Motorcycle Insurance Important?

The fact that you can never tell the future is a good reason to get insurance for your motorcycle. Getting motorcycle insurance will protect you from any expenses in case your motorcycle gets involved in an accident. Below are some of the importance of motorbike insurance.

  • Motorbike insurance provides total-loss coverage.
  • It offers liability protection for injuries to other people.
  • It covers medical bills for injuries.
  • Rates are based on year-round coverage.
  • It covers any damage incurred on your bike.

Lastly, it covers damage to other vehicles in a collision.

What Does Motorcycle Insurance Cover?

If this is your first time purchasing motorcycle insurance, then you need to know the coverage you are getting. Here are the coverages offered by the motorbike insurance policy:

Uninsured/Underinsured Motorist Coverage

It pays your medical bill if a driver who is uninsured or underinsured causes a crash in your vehicle, thereby leaving you injured in the process.

Collision Coverage

Your motorcycle insurance policy will pay for repairs to your motorcycle. For instance, if your vehicle is damaged in a crash, your insurance policy will be responsible for the repairs.

Comprehensive Coverage

Comprehensive coverage has nothing to do with a car crash or collision. Your motorcycle insurance policy will cover any damage to your car caused by weather, fire, vandalism, or theft.

5 Best Motorcycle Insurance Companies in 2023

Choosing the best motorcycle insurance is very important. Don’t just choose any motorcycle insurance company. Choose the one that offers the best coverage and has the best rates. Let’s take a look at the best motorbike insurance companies right now.

1. Geico

You should try out the Geico insurance company. Geico is best for daily commuters, and it offers discounts for a variety of riders. It is available across the U.S., and it has multiple payment plan options.

When it comes to savings, you can get Geico to offer the best discounts to policyholders, including one for bike owners who transfer their policies from another insurer.

In addition, Geico offers coverage for different motorcycle types, for instance, self-built bikes, custom-made bikes, etc. It also offers coverage for optional protection for accessories like saddlebags, trike conversion kits, electronics, etc.

2. Progressive

Another motorbike insurance company you should consider is Progressive. We picked Progressive as the best because it makes replacement cost coverage a standard part of its comprehensive collision protection.

Aside from this, it offers additional coverage options like roadside assistance and trip-interruption protection. For Progressive Insurance, coverage for personal belongings is also available.

3. Safeco Insurance

If you have never heard of this insurance company before, now is an opportunity to purchase motorbike insurance from them. Safeco is a Liberty Mutual company that is best for custom bike owners. They offer coverage for homemade and kit bikes.

And there are also roadside assistance options available. Policyholders should expect discounts from Safeco Insurance. They offer bodily injury liability, OEM manufacturer parts coverage, and collision/comprehensive coverage.

4. Harley-Davidson Insurance

Coming fourth on our list is Harley-Davidson Insurance. This insurance company is suitable for Harley-Davidson riders. They also offer other financial services, like bike loans. This insurance company is available in the U.S., but it is not available in Alaska, Washington, D.C., or Hawaii.

5. Foremost Insurance Group

The foremost insurance group will be the last on our list. It is owned by the Farmers Group of insurance companies. It is suitable for motorcycle collectors, and it offers optional replacement cost coverage for up to five years on new bikes.

If you are a motorbike collector, you should first consider travel insurance, as it provides up to $10,000 in coverage. Foremost offers policies for low-speed or neighborhood electric vehicles like golf carts.


How Much Motorcycle Insurance Do I Need?

There are some coverages that are mandatory by state law. In some states, motorcyclists are required to have motorcycle liability coverage, while other coverages, like comprehensive coverage or collision coverage, are optional.

Does Motorbike Insurance Cover Theft?

Yes, it does. This coverage falls under comprehensive coverage. It does not cover damage to your motorcycle caused by a crash with another vehicle.

How Can I Get Cheap Motorcycle Insurance?

The best way to get cheap motorcycle insurance is to look for motorcycle insurance providers that offer lots of discounts for things like bundling policies, maintaining a clean driving record, and safety courses.