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The Best Motorcycle Insurance Companies (2020)

Purchasing motorcycle insurance is about more than fulfilling your state’s registration laws. The best motorcycle insurance providers combine affordable prices with dependable customer service and varied, practical coverage options.Best Motorcycle Insurance Companies

Our compilation of the top-rated motorcycle insurance companies across different categories makes it easy to find one that best fits your needs.

Progressive’s discounts and quality of coverage make it the best all-around insurance if you ride every day.

 Insurer Highlights

  • Generally affordable coverage
  • Free add-ons included
  • Range of discounts

Progressive’s deep discounts and coverage add-ons, many of which are included at no additional cost, make it an outstanding cheap choice for most motorcycle riders. For instance, all of Progressive’s motorcycle insurance policies provide full replacement cost coverage, ensuring your motorcycle is restored to pre-accident condition without a depreciation deduction.

Another perk that helps cement Progressive as our first choice is its original equipment manufacturer (OEM) coverage, which guarantees that any original or custom parts on your bike will be replaced by the same parts. Progressive includes $3,000 of coverage for damage to custom parts, upgrades, and customizations with collision and comprehensive coverage.

Progressive also offers a long list of discounts and accident forgiveness programs which open up many different opportunities to keep your premiums low. Also, if you go four years accident-free and then have an accident, the first one won’t be counted against you as long as the accident costs Progressive more than $500.

Best for Low-Cost Coverage: GEICO

GEICO is the cheapest provider of motorcycle insurance, offering a large menu of discounts and the option to pay in installments.

 Insurer Highlights

  • Cheapest rates on average
  • Offers multiple discounts
  • Allows payment in installments

GEICO consistently offers some of the most affordable motorcycle insurance policies. This includes some of the states with the most motorcycle riders, including Florida and California. Based on our motorcycle insurance quote comparison, GEICO was the most affordable motorcycle insurance company by a margin of 76% in Florida with an average motorcycle insurance cost of $374 per year.

GEICO also offers a wide range of motorcycle insurance discounts that can drive down its rates even further. For instance, newcomers with previous policies at a different insurer get an automatic discount of up to 10% for switching to GEICO. If you’re already with GEICO, renewing your motorcycle insurance will get you the same reduction as a loyalty discount.

Another feature that makes GEICO one of the best providers in that it allows its policyholders the option to pay in installments. This is optimal for motorcycle riders who are on a budget and can’t afford to pay a policy in whole upfront. Keep in mind that you’ll be subject to a small fee for each installment, with longer payment plans costing higher fees.

Best for Custom Bikes: Foremost

The higher coverage limits available at Foremost make it a good choice if you’ve invested a lot into customizing your motorcycle.

 Insurer Highlights

  • High OEM and custom parts limits
  • Accessories coverage available

Foremost motorcycle insurance policies offer high optional equipment coverage limits, making it our top-rated motorcycle insurance company for those who enjoy customizing their motorcycles. Foremost includes an unusually high $3,500 of coverage for customized equipment on its comprehensive policies at no additional cost to riders. Some examples of what’s covered include:

  • Chroming
  • Custom paint jobs
  • Sidecars

You can increase your coverage limit on custom equipment up to $15,000 with Foremost. The company also provides $1,500 in coverage for safety apparel such as helmets and goggles. Most motorcycle drivers who have custom motorcycles will be able to receive coverage through Foremost, as it offers motorcycle insurance policies everywhere but Hawaii and Massachusetts.

Best for Military Veterans: USAA

Through Progressive, USAA offers military-only discounts for motorcycle insurance that help keep premiums low.

 Insurer Highlights

  • Highly rated customer service
  • Military-specific discounts
  • Offers loan financing for bikes

The United Services Automobile Association (USAA) doesn’t offer motorcycle insurance directly, but 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 a Progressive motorcycle insurance policy through USAA will have access to military-specific discounts.

In other words, U.S. military members, veterans, and their families can take advantage of extra discounts and get the cheapest rates on what we consider the best motorcycle insurance. Plus, USAA is the top motorcycle insurance in terms of customer reviews. Besides motorcycles, USAA also provides insurance policies for ATVs, mopeds, and scooters.

Another added benefit of getting motorcycle insurance through USAA is that it offers motorcycle loans and financing. Therefore, it serves as a one-stop-shop for those who are purchasing a new motorcycle. USAA offers up to 100% loan financing on motorcycles.

Who Is Eligible for USAA?

  • Veterans
  • Active service members
  • Cadets and midshipmen at service academies
  • Military families

Best for Collectors: Markel

Hobbyists and collectors will find a good fit at Markel, with its multiunit discount and ability to insure all kinds of motorcycles.

 Insurer Highlights

  • Offers multi-bike discounts
  • Covers many types of recreational vehicles
  • Diminishing deductible available

Markel has been insuring motorcycles for more than 40 years, making it familiar with the needs of motorcycle enthusiasts. Markel is great for motorcycle hobbyists, as it offers multiunit discounts and provides coverage for a wide array of motorcycle types.

The multiunit discount lowers a policyholder’s quote if they have more than one motorcycle insurance policy with Markel. Furthermore, Markel insures more motorcycle types than is typical, making it perfect for anyone having trouble getting coverage. Here are some of the types of motorcycles Markel covers:

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

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

Best for Occasional Riding: Dairyland

Choosing Dairyland may let you lower your coverage at any time to save money if your motorcycle spends a significant part of the year in storage.

 Insurer Highlights

  • Adjustable coverage for seasonal riders
  • Offers temporary insurance for international riders

Whether you’re an infrequent motorcycle rider or you’re an international visitor, Dairyland is the best motorcycle insurance for the occasional rider. Dairyland allows its policyholders to modify coverage limits at any time, which is especially useful if your motorcycle sits in storage during the winter.

The Dairyland Cycle Visit USA program also makes it the best motorcycle insurance company for international visitors. International travelers can apply and get a quote for a temporary motorcycle insurance policy through the program. The insurance policy is available in increments of 30, 60, and 90 days and provides coverage for one driver and motorcycle.

The Visit USA coverage can be applied to a motorcycle you already own, one you rent, or one you buy during your visit.

Best-Rated Motorcycle Insurance Companies

The best motorcycle insurance companies will combine great service with affordability and the financial ability to cover claims in any situation. Below, we outline how each of the best motorcycle insurance companies fares in the aforementioned categories.

Motorcycle Insurance CompanyA.M. BestJ.D. Power
ProgressiveA+ (Superior)3
GEICOA++ (Superior)4
ForemostAn (Excellent)NR
USAAA++ (Superior)5
MarkelAn (Excellent)NR
DairylandA+ (Superior)NR

NR signifies that an entity is not rated; J.D. Power ratings are on a 5-point scale.

J.D. Power is an industry expert when it comes to determining the best-rated insurance companies for overall customer satisfaction. While J.D. Power doesn’t review companies based solely on their motorcycle insurance policies, we used auto insurance ratings as a proxy as both drivers are likely to have similar experiences.

All of the large motorcycle insurance companies are rated by A.M. Best, a prominent rating agency that analyzes companies based on their financial strength.

In conclusion, when we looked at motorcycle insurance companies from a cost perspective, the most affordable option in most states turned out to be GEICO. That doesn’t necessarily make it the best choice for every rider, but it did produce the cheapest quotes overall in our research, which you can read more about here.