Best Motorcycle Insurance Companies in the United States
What do you look for in an insurance company? Are you looking to insure your own motorcycle, or does your family have motorcycles and you’re looking to get them all insured? Either way, there are many factors you should consider when choosing the right company to insure your motorcycle with.
There are quite a few things that make some insurance companies better than others, and these things differ from one person to the next. Here are some of the top factors that you should consider when trying to find the best motorcycle insurance company in the United States.
(1) Progressive
Progressive is a subsidiary of insurer and Fortune 500 company Progressive Corporation, which offers a variety of car insurance, home insurance, and life insurance options.
The company consistently ranks as one of America’s favorite providers and was named the most admired auto insurer by Fortune magazine.
It’s not just customer satisfaction; Progressive has repeatedly been ranked as one of America’s safest insurers. Consumers have chosen Progressive for their financial strength rating from A.M. Best, which assesses an insurer’s financial standing based on regulatory criteria as well as its operating performance over time, for several years in a row—one reason why Forbes placed it on its list of America’s Most Trustworthy Financial Companies.
(2) Amica
Amica doesn’t specifically focus on motorcycles but is generally considered one of the most affordable options for any type of vehicle.
Amica offers quotes for $10/month and will cover riders who have as many as three vehicles on their policy. It offers a variety of discounts and can save you hundreds if you’re lucky enough to qualify.
The company bases its premiums on driving records, claims history, credit score, and other similar factors, so you can expect to pay more if your record is clean or less if you have a ton of moving violations on your criminal record. Note that Amica does not provide coverage for ATVs or dirt bikes.
(3) Geico
Geico offers multiple products, including car insurance and boat/motorcycle insurance. Geico is popular among bikers because of its cost-effective rates (as low as $9 per month with full coverage) and low mileage limit (250 miles).
In addition, customers are rewarded for safe driving with accident forgiveness. For example, if you have a clean record for five years, your company will pay for damages caused by one at-fault accident that occurs after that time period.
As mentioned above, Geico offers affordable multi-line discounts to bikers who insure their cars with them as well. The average customer saves 25 percent on their annual premium when they bundle their auto policy with motorcycle coverage.
(4) Esurance
Esurance has solid coverage and claim service. In 2015, Esurance was named best auto insurer by J.D. Power for its excellent claims and customer service.
You’ll find that Esurance will go above and beyond to help you get back on track after an accident or other incident—even if you don’t purchase your policy with them.
Their financial strength is also an A+. They’ve been around since 1993 and are financially secure. They’re currently rated at a 4/5 from Consumer Reports. More than 1 million people have given their online quote system 4 out of 5 stars (according to Talkinsurp).
Best of all: If you have an issue, complain, or need assistance at any time, their 24/7 customer service line won’t let you down.
(5) Kemper
A good option for riders who want to pay monthly, Kemper is not one of our top picks but it’s still worth mentioning.
They offer a variety of plans with low-cost premiums and are available in all 50 states. In addition, they have a pretty good rating with their customers.
Overall, if you’re just starting out riding motorcycles or you don’t ride too often and want to pay monthly, Kemper could be a great choice for you.
(6) Allstate
Allstate is probably most famous for its car insurance, but it also sells coverage for motorcycles and watercraft, too.
If you’re looking for a company that covers all your bases—say, homeowners and renters along with vehicle insurance—you might be interested in Allstate. Its motto is You’re In Good Hands With Allstate®. You can find out more by clicking here.
(7) State Farm
This company ranks highest on our list of the best motorcycle insurance companies. Its rates are very affordable, and you get to choose how much liability coverage you need for your bike.
With State Farm, there are no policy minimums and you can decide how much money you want to spend on repairs or if you want to deal with them yourself. Their plans even cover damage caused by potholes and animals.
The only negative is that they don’t offer trip interruption or other typical rider benefits (like roadside assistance). Still, it’s a great choice if your state laws require that drivers carry a certain amount of liability coverage.
(8) Foremost
If you are looking for a company that provides you with protection against financial loss, Foremost is a good option.
They offer protection in cases of death or dismemberment to all insured riders. Their coverage extends to off-road riding and racing activities. If a covered person dies from injury due to an accident while riding, their beneficiaries receive up to $25,000 in compensation (depending on state law).
In addition, if an insured rider loses one hand or both feet as a result of an accident while riding, they also receive compensation. However, if they are injured but not dismembered during an accident while riding—or die from other causes—they do not receive any compensation at all.
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