How to get affordable motorcycle insurance
The key to inexpensive motorcycle insurance is taking advantage of available discounts and choosing the right coverages to protect you and your bike. Here are several ways to lower your motorcycle insurance and still ride with peace of mind:
1. Complete a motorcycle safety course
Whether you’re a new rider or have years of experience, Progressive and many other insurers offer savings on your policy for completing a motorcycle safety program. Check with the department of motor vehicles in your state for a list of approved safety courses.
2. Maximize all available discounts
Progressive is the country’s No. #1 motorcycle insurer for many reasons, including our array of discounts that help our riders save.* We offer discounts for everything from quoting in advance to paying your policy on time and in full.
3. Customize your coverages to your bike and situation
Select only the motorcycle coverages and limits you need. If your bike is paid off, worth less than a few thousand dollars, or you ride a cheaper scooter or moped, it may not be worth paying for physical damage coverages. Just make sure, if you pass on comprehensive or collision, you can afford the cost of repairing or replacing your bike if it’s damaged in an accident.
4. Increase your deductible
You can decrease your motorcycle insurance rate by increasing your deductible amount for comprehensive and collision coverage, assuming you’re willing to pay more out of pocket if you have a claim.
5. Combine policies
Progressive and other insurers offer a multi-policy discount when you bundle motorcycle insurance with other products, including auto, renters, condo, boat, and RV insurance.
6. Keep your policy current
Remove any riders listed on your motorcycle policy that no longer operate your bike. Make sure to update your address as well if you’ve moved — your motorcycle insurance rate may change with your ZIP code.
7. Avoid motorcycles with modified engines
Adding a turbo and/or nitrous oxide kit or modifying your bike’s engine usually makes your bike riskier to ride and could cause the cost of motorcycle insurance to rise.
8. Pick an insurer offering accident forgiveness
At Progressive, we won’t increase your rate if you have an accident claim for less than $500. If you stay with us for four years and ride accident-free, we won’t increase your motorcycle insurance rate for your first accident over $500.
9. Choose a shrinking deductible option
If you join Progressive, we’ll subtract 25% from your deductible for every policy term that you don’t file a claim with our “disappearing deductibles” feature. For example, if your deductible on collision insurance is $1,000 and you haven’t filed a claim by your next renewal, Progressive takes your deductible down to $750. And we won’t stop there. If you keep riding accident free, you could lower your deductible to $0.
Keep in mind that adding our disappearing deductible feature will increase the cost of your policy but could save you money if you have a future accident.
If you already have motorcycle insurance, check your existing policy for discounts provided by your insurance company. Additionally, look over your coverage selections and determine if you’re paying for protection you don’t need. If you’re new to motorcycle insurance, choose a motorcycle insurance company that can offer cheap motorcycle insurance without compromising the coverages that best protect your bike.