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Balancing affordability and protection is key when selecting the right motorcycle insurance policy.
If your premiums have risen or your motorcycle insurance policy is too expensive, you may be asking yourself whether cheap motorcycle insurance is the right call.
We’ve got some advice to help you save the most money and ensure you and your bike are covered for whatever may come your way.
Ready to find a cheaper policy? Start comparing motorcycle insurance quotes today.
What is the Cheapest Motorcycle Insurance?
The cheapest motorcycle insurance you can get will be a liability coverage policy that only meets your state’s minimum insurance requirements.
This type of coverage is often available for as little as $6 to $12 per month.
However, going this route will not give you the best protection.
Your liability coverage kicks in when you are found at fault for an accident.
Assuming your limits are high enough, this type of coverage will protect you from financial liability when you cause damage to other vehicles, people, or property, but it will not protect you if your bike is stolen or damaged by other means.
When should you go with the cheapest liability coverage only?
There may be a few instances where the minimum policy makes sense for you.
Some examples include:
- If your bike is not worth very much.
- If you don’t ride very far or very often.
- In the event your bike is stolen or totaled, you can afford to replace it yourself.
In order to decide what type of coverage you need, you’ll need to evaluate your financial situation, your bike, where and how you ride, as well as the rates you’ll be able to get.
Who has the Cheapest Motorcycle Insurance?
Top insurance providers like Progressive, Dairyland, GEICO, and Nationwide all offer competitive rates on their motorcycle insurance policies.
However, the rate you can get depends on a wide variety of factors, such as:
- Your age and riding experience.
- Where you live.
- Your history of claims and accidents.
- The type of bike you’re insuring.
- Your deductible.
- Any discounts you may qualify for.
In order to get the cheapest rates, you need to compare quotes from a few different companies.
Insurance providers can change the rates they’ll offer you all the time. As circumstances change, you may find that your insurance rates go up or down.
How to Get Cheaper Motorcycle Insurance
In order to get the cheapest motorcycle insurance, you’re going to need to do a little homework first.
Step 1: How Much Coverage Do You Need?
Your first step will be to determine how much coverage you need.
To start, you’ll at least need a policy that meets your state’s minimum liability coverage.
This is required to register and ride your bike, and it will protect you financially if you are found to be at fault for an accident.
Next, you’ll need to evaluate your own situation to determine other types of coverage you may want, such as:
- Comprehensive and Collision, or Full Coverage, which will cover damage to your motorcycle caused by you, theft, colliding with a stationary object, fires, water damage, and anything other than a standard vehicle-vehicle accident.
- Uninsured Motorist Coverage, which protects you in the event that someone without insurance or too little insurance hits you.
- Equipment coverage, which covers damage to your riding gear, helmet, and accessories you may have on your bike.
Different types of motorcycles may require different policies depending on the bike’s value, accessories, and how it’s ridden. Learn more about the different types of motorcycle insurance coverage.
Step 2: Qualify for Discounts
Once you’ve decided how much coverage you’ll need, you should see what discounts you’ll be able to qualify for.
Insurance discounts are a great way to lower your premiums and get the cheapest rates possible.
Some examples of popular discounts include:
- Bundling discounts for multiple policies (e.g. Motorcycle and Auto).
- Good driver discounts.
- Motorcycle safety course discounts.
- Motorcycle club discounts.
- Pay-in-full discounts.
- Discounts for safety features.
Since not every insurance provider offers the same discounts, it definitely pays to compare.
In some cases, you may need to speak with an insurance agent to get them to apply the discounts to your motorcycle policy.
Step 3: Shop Around & Compare Quotes
So, now you know what coverage you’ll need and the discounts you may apply for. It’s time to get to work.
Start comparing quotes from different motorcycle insurance providers to find out what rates you can qualify for.
Be sure to enter the same information and select the same coverage with each provider. This will give you the best apples-to-apples comparison.
The basic information you’ll need to get started includes:
- Your full name and driver’s license information.
- Your address.
- Your riding experience.
- Details for your motorcycle (year, make, model, VIN, extra features, etc.).
You’ll typically be able to finish your quotes online, and while some companies have a better online quote experience than others – they all really only take a few minutes each.
Once you’ve got a few different quotes to compare, you can select the cheapest one or the one that best meets your coverage needs.
Ready to get started? Start comparing quotes right here at MotorcylceZombies.com!