If you’re in the market for motorcycle-insurance, it’s important to compare providers before making a purchase. Consider things like coverage options, customer service and financial stability. Each company has strengths and weaknesses, so choose the one that best fits your needs and budget.
Progressive offers extensive add-on coverage for riders, including custom parts and accessories coverage. The company also has an online policy management system that allows you to view your policy and make changes anytime. Progressive ranks high in terms of customer satisfaction and provides a wide range of discounts. Its comprehensive coverage protects your bike against nondriving damage, including theft and vandalism. It also covers medical payments for you and your passenger regardless of who is at fault in an accident.
GEICO is known for its low rates and extensive coverage options. In addition to standard motorcycle coverage, it also offers rider education and roadside assistance. The company is highly rated by A.M. Best for financial strength and has a solid reputation for customer service. However, its premiums are higher than some competitors’, especially for those with less-than-perfect driving records.
USAA specializes in military and veteran-related insurance, but it also offers competitive motorcycle insurance. Its comprehensive coverage includes original parts replacement and a vanishing deductible, which decreases by $100 every year that you’re accident-free. It also offers a variety of other discounts, such as bundling policies and taking a motorcycle safety course.
Nationwide is another company that offers a wide range of motorcycle insurance. Its comprehensive coverage is particularly noteworthy because it covers your bike for all nondriving damage, including theft and animal collisions. Additionally, it offers a broad selection of replacement parts and will even cover your bike’s custom features.
Erie is known for its affordable pricing and excellent customer satisfaction ratings. Its unique add-on coverage options include protection for passengers and customized equipment, as well as total loss coverage for new bikes. However, it doesn’t offer as many discounts as some other insurers and its policies are not available in all states. Its basic policies pay back “actual cash value” in the event of a total loss, which accounts for depreciation. This is less than the sales price of your bike, which can be a drawback for some. In contrast, some companies will pay an agreed value for your motorcycle if it’s totaled. This may be a better option for those who want to keep their bikes as long as possible.