Jane Dotson
There are several insurance companies that offer motorcycle insurance, including GEICO, State Farm, Progressive, Dairyland, and Harley-Davidson Insurance. These companies offer a range of coverage options, discounts, and additional benefits such as roadside assistance and rental reimbursement. When choosing a motorcycle insurance agent, it is important to consider factors such as cost, coverage limits, customer service, and the specific needs of the rider and their bike. It is also worth noting that insurance requirements for motorcycles can vary by state, so it is essential to review the requirements for your specific location.
| Characteristics | Values |
|---|---|
| Number of agents | 19,000 |
| Types of vehicles covered | 2 & 3-wheeled vehicles, mopeds, off-roading vehicles, lightweight vehicles, classic motorcycles, high-performance motorcycles, multi-utility tractors, e-bikes, and more |
| Coverage | Custom parts and equipment, collision, comprehensive, bodily injury, replacement cost, rental reimbursement, roadside assistance, liability-only, full replacement cost, and more |
| Discounts | Multi-vehicle, multi-policy, safety course completion, military/law enforcement, and more |
| Customer Service | Easy claims process, 24/7 availability, online and phone support, mobile app, and more |
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What You'll Learn
Types of motorcycle insurance
There are several types of motorcycle insurance available, and the right coverage for you will depend on various factors, such as the value of your bike, whether it's being financed or leased, and your state's requirements. Here are some common types of motorcycle insurance:
Liability Insurance
Liability insurance is required by law in almost every state. It covers the injuries or damages to others if you cause an accident. The minimum amount of liability insurance you must purchase is usually the same as your state's car insurance minimum requirements. However, consider buying extra liability coverage to protect your assets in case you are sued over an accident.
Collision Insurance
Collision insurance pays out for damage to your motorcycle, minus your deductible amount. This type of insurance is typically required if you finance or lease your bike.
Comprehensive Insurance
Comprehensive insurance covers your motorcycle if it is stolen or damaged by something other than a collision with another vehicle. Animal collisions are also covered under this type of insurance. Comprehensive insurance usually includes coverage for custom parts, equipment, and accessories, but up to a certain limit.
Medical Payments (MedPay) or Personal Injury Protection (PIP)
Medical payments coverage pays for medical bills if you and your passenger are injured in an accident, regardless of fault. PIP is similar but may also cover pedestrians and lost wages, depending on the state. However, MedPay is not available in all states, and some states may not allow insurance companies to sell PIP coverage to motorcyclists due to their high accident rate.
Uninsured/Underinsured Motorist Coverage
This type of insurance covers your medical bills and damages if you are in an accident with a driver who does not have insurance or does not have enough insurance to cover the costs.
Actual Cash Value, Stated Amount, and Agreed Value
These terms refer to the settlement you will receive if your bike is destroyed or stolen. Actual cash value pays out the worth of your bike minus depreciation and your deductible. Stated amount pays out the amount you selected when purchasing the policy, while agreed value is a fixed amount agreed upon between you and the insurance company, with no deductible taken from the claim check.
In addition to these standard coverage options, many insurance companies offer add-ons such as trip interruption coverage, which reimburses you for lodging, transportation, and food if your bike breaks down far from home. You can also often get coverage for custom parts, equipment, and accessories, as well as for your riding apparel.
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Cost of motorcycle insurance
The cost of motorcycle insurance depends on several factors, including location, age, type of bike, riding experience, accident history, and coverage selection.
Location
Motorcycle insurance is typically more expensive in places with high crime rates, more traffic, severe weather, or higher accident rates. For example, Kentucky has the most expensive motorcycle insurance quotes in the country, with an average of $69 per month for full coverage. Conversely, North Dakota has the cheapest motorcycle insurance quotes, with rates as low as $18 per month.
Age
Age plays a significant factor in determining motorcycle insurance costs. Younger riders tend to pay higher insurance rates, with 21-year-olds paying 20% more than 35-year-olds on average. As riders gain experience and age, their insurance rates generally decrease, assuming they maintain a clean riding record.
Type of Bike
The type of motorcycle also influences insurance costs. Sport, supersport, and street bikes are generally more expensive to insure due to their higher replacement costs and theft risks. Models with larger engines tend to cost more to insure because they are considered high-performance bikes, which pose a greater risk of accidents.
Riding Experience and Accident History
Insurance companies consider riding experience and accident history when determining rates. Riders with more experience and a clean riding record may qualify for lower insurance premiums. Conversely, accidents, especially at-fault collisions, can significantly increase insurance costs, depending on the state and the nature of the accident.
Coverage Selection
The chosen coverage level directly impacts the cost of motorcycle insurance. A liability-only policy is typically the most affordable option, but it does not cover physical damage to the insured's bike. Comprehensive and collision coverage are often required by lenders for leased or financed motorcycles and add to the overall insurance cost. Additionally, custom parts and equipment coverage can increase the premium, but it ensures protection in case of theft or accidents.
Insurance Company
Comparing quotes from multiple insurance companies is essential to finding the best rates. The difference in prices between the most affordable and most expensive companies can be significant, with a gap of up to $51 per month from one state to another.
It is worth noting that insurance rates can vary widely, and it is always advisable to get personalized quotes from different providers to determine the actual cost of insuring a motorcycle.
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Discounts on motorcycle insurance
There are various types of discounts offered by insurance companies for motorcycle insurance. Progressive, for instance, offers discounts for customers who quote at least one day before their policy starts, and for those who have auto, home, renters, condo, boat, or RV insurance with them. Progressive also offers discounts for customers who belong to the Harley Owners Group or United Services Automobile Association (USAA), and for those who have a valid motorcycle license or add a motorcycle endorsement to their driver's license. Completing an approved motorcycle, ATV, or snowmobile safety course can also lower your insurance rate. Additionally, Progressive offers a discount for customers who are at least 45 years old with more than three years of riding experience and have had no accidents or motor vehicle violations in the past three years.
State Farm, on the other hand, offers competitive motorcycle insurance for 2 & 3-wheeled vehicles, with 19,000 agents nationwide, an easy claims process, and 24/7 customer service. GEICO also offers competitive rates and various ways to pay your bill, depending on the state and premium amount. They also have a mobile app that makes your motorcycle policy more accessible.
Other ways to lower your motorcycle insurance costs include taking advantage of multi-cycle, homeowner, paid-in-full, and rider group discounts. Completing a motorcycle rider training course, choosing a higher deductible, and regularly reviewing and customizing your motorcycle coverage based on your requirements can also help reduce your premium. Additionally, motorcycles are typically less expensive to insure than cars since they cost less to buy, maintain, and repair.
It is worth noting that the cost of motorcycle insurance depends on several factors, such as your location, riding experience, accident history, coverage selection, and type of bike. It is always a good idea to shop around and get quotes from multiple insurance companies to find the best rates and coverage options for your needs.
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Online motorcycle insurance quotes
When it comes to motorcycle insurance, there are a variety of companies that offer online quotes. Many companies, such as GEICO, Dairyland, and Progressive, offer free online quotes for motorcycle insurance. These companies provide coverage for a wide range of motorcycles, including sport bikes, cruisers, mopeds, and custom-built bikes. Some companies, like Progressive, also offer insurance for off-roading vehicles and classic motorcycles.
To obtain an online quote for motorcycle insurance, you will typically need to provide information about your bike, including its make, model, year, and Vehicle Identification Number (VIN). Additionally, personal details such as your full name, date of birth, address, and driver's license number may be required. Details about your riding history, including any past accidents or violations, are also relevant factors in determining your insurance quote.
It is worth noting that motorcycle insurance rates can vary depending on several factors. The type of motorcycle, its replacement cost, and your choice of coverage can influence the premium. Your location, driving record, and riding experience also play a role in determining the cost of insurance. By taking advantage of various discounts offered by insurance companies, you may be able to obtain more affordable coverage. These discounts may include dual-policy discounts, completion of motorcycle safety courses, or installation of anti-theft devices.
When considering online motorcycle insurance quotes, it is important to review the specific coverage options and requirements provided by each company. Some companies offer additional benefits, such as accessory coverage for modifications or reimbursement for travel expenses in the event of a breakdown. It is also recommended to compare quotes from multiple companies to ensure you receive competitive rates and adequate coverage for your needs.
By utilizing the online quote services offered by motorcycle insurance providers, you can conveniently compare rates, coverage options, and discounts to make an informed decision about insuring your motorcycle. Remember to provide accurate and detailed information to receive the most precise quotes, and don't hesitate to contact the insurance companies' agents or representatives for further assistance and clarification.
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Customer service
When it comes to motorcycle insurance, customer service is a key consideration. You want to be able to reach out to your insurance provider with any queries or issues and feel confident that they will be resolved efficiently and effectively.
Many insurance companies, such as GEICO, offer multiple ways to connect with their customer service teams, including via phone or online. Testimonials from GEICO customers highlight the helpfulness and courtesy of their agents, as well as the ease of use of their website and overall positive experience with their customer service.
State Farm also boasts an impressive customer service offering with 19,000 agents nationwide, an easy claims process, and 24/7 customer service availability. Their large network of agents means that customers can easily find a nearby agent to offer personalized service and help fit their specific needs.
Progressive, which has been rated as the best insurance company for motorcycles by some, offers reliable customer service at an affordable rate. They receive 35% fewer complaints compared to an average company of the same size, indicating high customer satisfaction.
Harley-Davidson Insurance Services also receives positive reviews for its customer service, with customers describing their agents as "very kind and helpful" and praising the "fast, easy and trustworthy experience". They have been offering motorcycle insurance for over 20 years and emphasize their experience and knowledge in getting customers back on the road.
When considering customer service, it's important to look at the availability, responsiveness, and helpfulness of insurance agents, as well as the overall ease of use and satisfaction with the company's services.
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Frequently asked questions
Some insurance companies that offer motorcycle insurance include GEICO, State Farm, Progressive, Dairyland, and Harley-Davidson Insurance.
The premium for motorcycle insurance depends on various factors, such as your location, driving record, the type of motorcycle, and its replacement cost.
Motorcycle insurance typically covers liability, collision, and comprehensive claims. It may also include protection for custom parts, equipment, and safety gear.
To obtain a quote for motorcycle insurance, you should contact an insurance agent or visit the website of the insurance company. They will require information such as your bike's year, make, model, and Vehicle Identification Number (VIN).
Yes, there are several ways to reduce the cost of motorcycle insurance. You can bundle insurance policies with the same provider, take advantage of discounts offered by the insurance company, or adjust your coverage and deductibles.
