How Much is Motorcycle Insurance (and Why Rates Vary)

At Harley-Davidson Insurance Services, we know that having a motorcycle is a thing of beauty. It opens the world in new ways that can only be experienced on two wheels.

But to get there legally, you must have two things: a motorcycle and insurance.

How Much Does Average Motorcycle Insurance Cost?

The average cost of motorcycle insurance in the United States in 2023 is approximately $721 annually or $60 per month¹.

But the average isn't the whole story. Motorcycle insurance premium is based on many factors including:

age
riding experience
type of motorcycle
location and zip code
the choices you make for your motorcycle insurance policy
The discounts you are eligible for

Some choices are in your control, but some are legal requirements. To ride in most states, you need to have liability insurance at the very least. Still, to ensure you are protected in an unforeseen incident, you will want to include collision and comprehensive coverage.

>> Learn more about motorcycle liability insurance

How Do Insurance Deductibles Affect Your Premium?

Unlike healthcare insurance, motorcycle coverage is a patchwork of different coverages that work together to protect you in a multitude of situations. Not all are mandatory, but the more you have, the more likely insurance will cover damages in an incident.

Each policy will offer coverages which may include deductibles and will include limits of coverage—the lower your deductible, the higher your premium.

How to Shop for Motorcycle Insurance Coverage?

The best way for new motorcycle riders to find the cost of motorcycle insurance is to call or email a reputable insurance provider and speak with a motorcycle insurance professional.

Speaking with a motorcycle insurance agent will ensure you get a personalized quote that addresses your needs and situation.

Choosing your insurance policy based on the lowest annual rate is not always the smartest decision. These quotes are often only for liability insurance which may be inadequate in the case of a major incident. Finding a balanced plan with a wide array of coverage types will guarantee that your coverage is adequate for most situations.

>> Learn how to review your current motorcycle insurance coverage

Coverage Selections

While minimum basic liability coverage, in most states, includes bodily injury, property damage, and uninsured or underinsured motorist coverage, we believe it's important to know what the other policy options provide and why these additional insurance coverages are the right choice for most motorcyclists.

Basic Coverage

These are the standard coverages that most states require in order for you to ride protected.

Bodily Injury Liability Coverage: This coverage may defray medical costs for injuries to others associated with an incident that is your fault.
Property Damage Liability: This coverage may pay for the costs associated with damage to property you don’t own in an incident that is your fault.
Uninsured or Underinsured Motorist: This coverage may provide bodily injury damage protection in an incident with a motorist driving illegally without insurance or with inadequate insurance to cover the damages. In some states, this coverage is optional and not required.

“The term Full Coverage”

Full Coverage is a term consumers use when they seek a policy that will pay for both damages to others caused by the rider and damage to the rider’s bike. This is what some insurers refer to as a policy, which typically includes liability coverage plus other optional coverages such as collision coverage, comprehensive coverage, and other extra coverages.

These extra and optional coverages may be available at the request of the consumer.

Collision Coverage: This motorcycle insurance may cover damage to the rider’s own bike when events within a vehicle operator's control happen, such as hitting a stationary object (fences, trees, streetlights), accidents that take place while parked, crashing into ditches, or damage from faulty roadwork, and even some hit-and-run incidents.
Comprehensive Coverage: May provide protection by paying for damage to the rider’s own bike when events happen like so-called Acts of God such as fires, floods, falling objects, and other natural disasters, as well as damages if your motorcycle is stolen or vandalized.

Basic Extra Coverages

These extra coverage options will add additional costs to your policy but give some riders peace of mind.

Optional Equipment Coverage: Harley-Davidson Insurance’s Optional Equipment coverage is an accessory coverage that may pay for non-factory standard equipment attached to your bike that might be damaged during an incident.
Medical Payment Coverage: This coverage may defray the cost of medical bills associated with an incident. In some states, this coverage is required and not optional.
Personal Injury Protection: This coverage, also known as P.I.P. or no-fault insurance, may cover injuries regardless of who is at fault in an accident. In some states, this coverage is required and not optional.
Replacement Cost Coverage: This total loss motorcycle insurance coverage may provide coverage for your replacement costs if your motorcycle is too badly damaged to repair.
Roadside Assistance Coverage: This is helpful in case of a breakdown and often covers towing or transporting necessary repair materials.
Trip Interruption Coverage: If a motorcycle trip is derailed, this coverage may pay for a hotel stay, food, and other necessities while you’re sidelined.
Vacation Rental Coverage: This isn't a rental reimbursement but may cover the motorcycle you rent while on vacation.

Other Factors on Motorcycle Insurance Pricing

Your Driving History

Every motorcycle insurance company wants to know that you take motorcycle safety seriously. Experience is a priority, so a 50-year-old single male rider with a decade of riding under his belt will likely pay less than a 25-year-old rider who is new to the hobby.

Speeding tickets and incident claim history also play into the price of an insurance premium. A clean driving record indicates that a rider will be safer on the streets and have a lower crash rate.

Your Financial History

Your financial records are also important to motorcycle insurance companies. In most states, they will run an insurance score (which is similar to a credit score) as a tool which may influence your premium.

Your Motorcycle

What type of bike are you riding?

Larger engine sizes will be more expensive to repair, and with great power comes greater premiums. A touring bike will see more mileage than a moped, which may also be factored into your quote.

Similarly, the theft rate of your bike’s brand or type is also factored into your quote. Very few riders choose the motorcycle they want to ride based on insurance premiums, but it is something to be aware of.

Discounts on Insurance

Garnering discounts is easy when you speak with an agent. Even new riders may receive discounts after completing a motorcycle safety course. Certain safety features, safe storage, or the right payment plan make you more attractive to a motorcycle insurance company.

You can take advantage of a multi-vehicle discount if you have multiple motorcycles to insure. If one of those bikes is a Harley-Davidson® motorcycle and you are a H.O.G.® (Harley Owners Group) member, you can receive a discount with Harley-Davidson Insurance Services.

>> Discover ways to lower your average cost of motorcycle insurance

Harley-Davidson Insurance Services is Here to Help

Call one of our licensed agents today to find an affordable motorcycle insurance plan that meets your needs.

How Much is Motorcycle Insurance