6 Best Motorcycle Insurance Companies

You know car insurance is a must-have, but what about motorcycle insurance?

Accidents happen, and insurance can give you the peace of mind that comes from being financially protected against expensive repairs and related costs. Most states require some form of motorcycle insurance, and the right coverage can save you thousands of dollars in the event of an unforeseen incident.

We’ve done some research into the best motorcycle insurance companies of the year to help you determine which carrier and coverage are right for you.

Our Top Picks for the Best Motorcycle Insurance Companies

• Harley-Davidson: Best for New Riders
• Progressive: Best for Accident Forgiveness
• Foremost: Best for Track Riders
• Nationwide: Best for Motorcycle Collectors
• Markel: Best for Mechanical Breakdown Coverage
• Safeco: Best for Homemade and Kit Bikes

Why we chose it: Harley-Davidson offers a range of perks and discounts specifically for new riders. It offers discounts for new vehicles and participating in the H-D Riding Academy New Rider Course. It also services and finances bikes, so you can meet all your motorcycle needs in one place.

Harley-Davidson is the only motorcycle specialist in the insurance industry. It offers coverage for a full range of motorcycle types, from standard bikes to sports bikes and scooters. And not only does it insure your bikes, but it also offers bike loans and maintenance plans, making Harley-Davidson a one-stop motorcycle shop.

Besides offering a well-rounded base coverage, Harley-Davidson extends a wide array of add-ons. These include full replacement cost coverage for total losses, equipment replacement cost, and medical coverage for you and a passenger.

However, there are two things to keep in mind if you’re considering a Harley-Davidson motorcycle insurance policy. First, coverage is unavailable in Alaska, Hawaii and Washington, DC. Second, you may pay more for coverage through Harley-Davidson than with other companies. Still, although premiums are higher, it does offer several discounts that could help you save.

We we chose it: We chose Progressive as the best in this category because its policies are particularly generous compared to other insurers, especially when it comes to accident forgiveness. It automatically covers your small claims without raising your rates. Plus, if you ride accident-free for four years, it covers your first major claim of over $500.

Progressive leads in both coverage and pricing. If you get in an accident, Progressive offers a broad selection of replacement parts and will replace custom parts too. Another unique add-on that sets Progressive apart is total loss coverage for new motorcycles. It also beats its competitors in enhanced protection for injuries. If you’re injured and can’t return to work, the company will pay you up to $250 every week for two years under this policy.

Progressive also offers a seasonal insurance option called lay-up motorcycle insurance. If you ride only when the weather is nice, Progressive makes it easy to adjust your coverage and your payments during the off-season. With this option, you can pause liability and collision coverage while maintaining theft and non-accident damage protection.

What about the drawbacks? First, Progressive has the lowest customer satisfaction rating on this list. Also, because Progressive sells coverage both directly through their company and through independent insurance agents, it’s not easy to find the best quote. You could get wildly different numbers depending on how you purchase your coverage.

Why we chose it: Many insurance companies won’t cover track riders because of the high risk of injury or damage to your bike, but Foremost will. In fact, no other insurer on this list specifically protects track bikes. Moreover, Foremost offers accident forgiveness for your first accident, so even beginners can hit the tracks with peace of mind.

Foremost offers a wide range of plans and a fantastic set of discounts to match. But where it really stands out is in its Plus and Elite plans, which include replacement cost coverage, track-day coverage and roadside assistance (plus towing and trip interruption). While Plus includes the above features — along with $3,500 optional equipment coverage — the Elite plan provides added benefits like $5,000 in coverage for optional equipment and $2,000 for personal effects at replacement cost.

Foremost covers other types of bikes as well. Your vintage, low-speed or custom motorcycles will all be safe and sound under Foremost’s robust plans. These even cover enhanced rental and include permissive-use benefits, which insures your bike when others ride it.

Where Foremost falls behind is in customer service. First, it doesn’t offer 24-7 customer support; if you have an issue in the middle of the night, you’re stuck until service hours. Second, it doesn’t have the best internet presence, so you can’t buy a policy online.

Why we chose it: Nationwide is one of the leading car insurance companies, and its generous policies extend to motorcycle insurance too. Nationwide provides more robust coverage than other insurance companies and will cover more bikes as well. It allows up to twelve custom bikes on a single policy, with maximum coverage of $50,000 per bike and $30,000 for accessories and trailers.

Nationwide stands out because of its extensive coverage and the number of bikes it allows you to add under one policy. It offers a range of more common benefits as well, including original parts replacement and a vanishing deductible that reduces by $100 every accident-free year.

Nationwide’s coverage stretches beyond bikes. It provides up to $500,000 per person per accident in bodily injury liability coverage, which is among the highest levels of coverage in the industry.

While Nationwide offers excellent coverage, it comes at a price — and the company offers relatively few discounts. Discounts exist for taking a safety course and for paying your premium in full, but little else beyond bundling insurance policies will garner you a lower price.

Why we chose it: Motorcycle insurance policies generally cover accidents and injuries, but Markel takes this a step further by covering repairs if your bike breaks down or fails for any reason. And not only is your bike covered for mechanical breakdown, but your motorcycle trailer is too. Markel is the only company on this list offering such protection.

In addition to common coverage options and perks like accident forgiveness, Markel will cover repairs and breakdowns even if you never get into an accident. Additionally, customers can get coverage for trailers and almost any type of bike. You can even get up to up to $30,000 coverage in $1,000 increments for custom gear and accessories like leathers, helmets and goggles.

Another way that Markel stands out is through funeral coverage. If an insured rider dies in an accident, Markel will pay out a set amount to cover the funeral expenses — which is a rare extra in the industry. It also offers a variety of discounts, like a safe driver discount, multi-bike discount and renewal discount. After four years without an accident, Markel will forgive your first at-fault loss and reduce your deductible by 25% for each accident-free year.

Unfortunately, Markel motorcycle insurance is available in only nine states. You can get coverage only if you live in Alaska, California, Florida, Georgia, Michigan, North Dakota, South Dakota, Vermont or Wyoming.

Why we chose it: Of the major insurers on this list, Safeco, part of Liberty Mutual, is the only motorcycle insurance company that extends coverage to select homemade and kit bikes. Safeco also offers a number of unique and customizable features, including replacement coverage for original equipment manufacturer parts (in select plans) and a 24-7 roadside assistance program that services riders anywhere in the U.S. or Canada.

Safeco is unique for covering homemade bikes, kit bikes and even ATVs and snowmobiles. It will also cover the replacement of original equipment manufacturer parts under its comprehensive and collision policies.

Another great perk of working with Safeco is that it offers roadside assistance and emergency assistance across the U.S. and Canada. Services under the roadside assistance program include help with lockouts, battery jump-starts, flat tires, emergency fuel delivery and towing. The emergency assistance program, on the other hand, will cover such items as lodging (up to $500) and emergency expenses, personal property coverage and transportation expenses.

However, Safeco may not be the most convenient motorcycle insurance to obtain. The company is agent-based, which means you need to call for quotes. Also, Safeco doesn’t offer as many discounts as other companies do. Finally, Safeco does not cover bikes used for racing, and only select homemade and kit bikes will make the cut.

How We Found the Best Motorcycle Insurance Companies

As when purchasing car insurance, there are many factors to consider when comparing motorcycle insurance. To find the best companies selling motorcycle insurance, we assessed companies’ products, discounts, customer service awards and financial strength ratings.

Every motorcycle rider is different, so we also sought out insurance companies that tailor policies to unique situations. Each provider on our list stands out because of the type of coverage they offer or because of perks and discounts.

To measure customer service and satisfaction, we considered J. D. Power’s latest US Auto Claims Satisfaction Study and included only companies ranked above 850/1000. As evidence of financial strength and ability to pay out claims, we looked to AM Best’s financial strength ratings. All motorcycle insurance providers on this list are rated as excellent or superior.

Summary of Money’s Best Motorcycle Insurance Companies of 2022

• Harley-Davidson: Best for New Riders
• Progressive: Best for Accident Forgiveness
• Foremost: Best for Track Riders
• Nationwide: Best for Motorcycle Collectors
• Markel: Best for Mechanical Breakdown Coverage
• Safeco: Best for Homemade and Kit Bikes