Motorcycle insurance: compare bike policies for 2018 | finder

Compare motorcycle insurance

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Find the best bike insurance for daily rides and weekend road trips.

Are you looking to insure your motorbike, moped or scooter? Insuring your motorcycle is a little different from insuring a car. Here’s what to look for in a policy, how to get a quote, how to make a claim on your policy and how premiums work. Compare a range of motorcycle insurance brands and policies to find the policy that is right for you.

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What insurance options do I have?

Standard motorcycle insurance usually requires bodily injury and property damage liability coverage, depending on the state.

Bodily injury and property damage liability cover you in an at-fault accident, and comprehensive and collision coverage can help you repair or replace a damaged or stolen bike.

Other states could require additional motorcycle coverage, including uninsured or underinsured motorist coverage and personal injury protection, which cover medical bills for passengers and pedestrians after an accident.

What affects my motorcycle insurance premiums?

  • The value of your bike. Newer, more expensive and more powerful bikes will usually cost more to insure than older, cheaper and less powerful models. Consider how much your bike will cost to insure before you buy your motorcycle.
  • Your riding history. If you’ve got a long string of speeding and traffic offences, insurers will see you as posing a high level of risk and will increase your motorcycle insurance premiums.
  • Your claim history. You could get a discount on your premiums by not making insurance claims. If you’ve made a claim on your motorcycle insurance in the past, insurers will classify you as posing an increased likelihood of making a future claim. This will drive your premiums up. On the flip-side, a no claims bonus can help lower the cost of coverage significantly.
  • Your age. Riders under the age of 25 are more expensive to insure than older drivers. If you’re over 25, consider whether it’s worth adding a younger rider to your motorcycle insurance policy could cost you a lot of money.
  • How much you ride. Weekend warriors could save money on usage-based or mileage-based insurance, so you only pay for coverage for the miles you ride. Make sure not to over or underestimate your annual mileage when purchasing coverage.
  • Who rides your bike. If you’re an experienced rider with an unblemished claims history and you’re the only person riding your bike, the cost of your coverage should stay low. But if you want your motorcycle insurance policy to also cover a 22-year-old rider with a speeding conviction and several previous insurance claims, expect your premiums to skyrocket.
  • Where you live. Theft is more likely if you live in an urban or high crime area, which could increase your rate.
  • Where you keep your bike. Securing your bike in a garage whenever it isn’t being ridden will lower your premiums. If your bike is left parked on the street, you can expect to pay more for your motorcycle insurance.
  • Security systems. Bikes with alarm systems are less likely to be stolen, so you could get an anti-theft discount.
  • Modifications. Expect a premium increase if you add performance enhancements to make your bike faster or more powerful.
  • Your deductible. You can opt to pay a higher deductible in return for a lower premium. Make sure you can afford to pay the deductible in case of an accident and you’ll save on your monthly bill.
  • Your level of coverage. If you need to be covered for more risks under a comprehensive policy, expect higher premiums.

What else should I be looking for in a policy?

Consider the extras available in a policy. These additional benefits may be available to you based on the specific policy and level of coverage you have. For example, accessory coverage for motorcycles or custom parts and equipment (CPE) coverage includes coverage for helmets, sidecars, antennas, trailers, custom paint or exhaust and trike conversion kits.

Check the terms and conditions to make sure you’re covered for what you expected. You can talk to your provider about exactly what’s included in extra coverage and what you’d need to do to make a claim or prove these additional items were damaged.

Some extras may include:

  • Helmet coverage. For safety reasons, if you crack your helmet in an accident, you can’t use it again. Helmet coverage helps offset the price of purchasing a new one.
  • Riding gear and bags. You can only get coverage for these if you take out this additional extra.
  • Replacement for bikes less than two years old that are written off.
  • Tools. Cover the tools of the trade if your bike is a business vehicle
  • Rental car. Coverage for a rental car after your bike has been stolen or damaged. Check requirements for preferred providers, reimbursement and maximum costs per incident.
  • Personal items. You can get covered for the theft or damage of personal items and trailers.
  • Windshield and glass damage. Get coverage for damage to the windshield and side mirrors.
  • Total loss coverage. If your bike gets totaled, total loss coverage will pay the retail price of the current model year version of your motorcycle.
  • Trip interruption coverage. Don’t let an accident or breakdown slow down your cross-country bike ride. Protect yourself with trip interruption coverage to continue your trip with coverage for lodging, alternative transport and food during your road trip.

How can I get cheap motorcycle insurance?

As a young or inexperienced driver, it’s an unfortunate reality that you will have to pay more on your premiums. And if you’ve already purchased your bike, you might not have a choice in how much you’ll pay for that model. However, there are some ways to help reduce your premiums.

  • Choose a bike with a less powerful engine. Larger and more powerful engines are more expensive to insure.
  • Keep your bike in a secured garage. This reduces the likelihood of your bike getting damaged.
  • Drive safely. Try to avoid accidents to build up a no-claim history.
  • Re-assess the value of your bike. For example, if you’ve insured a brand new motorcycle then it might be over-insured two years later, and you might be paying too much for cover.
  • Pay premiums annually. Many insurers will charge less overall for premiums paid annually rather than monthly.
  • Get discounts. You may be entitled to a range of discounts, including loyalty bonuses, no claims bonuses, discounts for signing up online, multi-policy discounts and others.
  • Adjust your coverage. You might be paying extra for policy options that you don’t feel strongly about.

How do I get scooter and moped insurance?

Moped insurance and scooter insurance are widely available. Motorbike insurance premiums are determined by the vehicle’s engine capacity, so less powerful mopeds and motor scooters enjoy lower insurance premiums than higher end motorcycles.

Is the scooter or moped less than 225cc?

Compare scooter insurance policies by knowing what kind of engine it has. Mopeds typically have a very low engine capacity, and are almost always less than 225cc, while most but not all scooters are.

225cc and under is the lightest class of motorcycles, and this category of moped or scooter will lower your insurance premiums than standard motorcycle insurance.

How does passenger coverage work?

Guest passenger coverage or pillion coverage protects passengers other than the driver riding on your motorcycle. Passenger coverage might be included as part of your bodily injury liability coverage, but in some states it could cost be considered optional coverage and cost extra. The price you’ll have to pay typically being influenced by factors such as your age, riding experience and the type of bike you own.

If you choose not to get passenger coverage but are involved in an incident while carrying a passenger, you could risk voiding your policy altogether.

Frequently asked questions about motorcycle insurance

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