Can you imagine if your bike was stolen?
Worse yet, can you imagine if you weren’t reimbursed for the replacement?
When it comes to motorcycle insurance providers it’s important that your bike is covered from tire to tire. That means your bike is insured for all the latest check-ups, inspections, tune-ups, and more! In this post, we uncover the Top 10 Best Motorcycle Insurance Providers in 2019. Check it out down below.
1. Markel Insurance (Category: premium):
With its 40 years of experience and extensive coverage on all sorts of bikes including sportbikes, street bikes, and touring motorcycles, it is people’s first choice.
Markel offers extensive benefits for its customers which include special discounts. These discounts include both cash and in-kind benefits such as anti-theft alarm, safety course, anti-lock brakes etc. Further, it offers ‘no claim bonus’ of 25% which means that your premium for next year will be reduced by the said percentage if you remain accident-free in the previous year!
2. Safeco Insurance (Category: Affordable):
The name contains ‘Safe’ signifying the intent of this company. It is part of the Liberty Mutual insurance group and offers affordable for motorcycles.
Unlike Markel, Safeco insurance doesn’t cover touring and sports bikes. This service provider offers unique discount types including mature rider and safety foundation discounts for bikers who prefer safe traveling and refer fellow bikers to them. They are known for their affordable insurance plans suitable for all.
3. Allstate (Category: adventurous):
Allstate insurance company needs no introduction. They have come up with unique ideas for their customers. Allstate forgives the first-ever motorcycle accident without raising the premium.
As a general policy followed by insurance service providers, the insurance premium is increased at the time of renewal after rider files for a claim. Allstate forgives this first claim without hiking the premium payouts. They have curated their plans for young and enthusiast riders who ‘live to drive’ and thus offers motorcycle safety course and educational resources for all the customers.
4. Progressive Insurance (Category: customer-oriented):
Based in Ohio, Progressive is known for its customer-friendly rates, deep discounts, and coverage add-ons.
Progressive offers full replacement cost coverage and not just restores the pre-accident condition. In other words, if there has been damage then insurance companies usually reimburse the depreciated cost of part damaged. Progressive reimburses you the cost of the new part. Its varied coverage pays for damages to custom parts, original parts and upgrades too!
5. GEICO Insurance (Category: Cheap):
To establish its base in market GEICO has come up with innovative ideas of offering insurance. Do you know you can get a 10% discount on insurance premiums if you switch your insurance provider to GEICO? This discount is recurring because next year on renewal, GEICO offers you loyalty discount too! The bike insurance rates vary according to the area, but GEICO is a great service provider based on its coverage and cheap prices. In an average cost of $370 per annum, it offers roadside assistance and special coverage for customizations.
6. USAA (Category: Military):
This service provider is only for Military families in the USA. The benefits of this insurance provider are incredible (should be as the service recipients are protecting the nation).
All the benefits are not disclosed but the ones which are known to the world include distribution of profit to the customers. No insurance company distributes share of their profit to customers (we are not shareholders) apart from USAA. They have customized policies to suit the requirements of all Military families.
7. Dairyland (Category: occasional & high-risk drivers):
With its customized plans for occasional riders, Dairyland has made its place in the market because of this special option. It allows you to select the term of insurance (it can be as short as one day or as long as one year) which is helpful for infrequent riders. You can apply for this insurance on a rented bike and hence, international travelers can apply for their services. It is also useful for riders in the northern region of the US where bikes sit in a garage for winter months. They also offer special seasonal plans where you can extra cover yourself in the season when you drive your motorcycle the most.
8. Nationwide (Category: unique policies):
Just like credit card and loan providing companies are ready to offer loans to customers with good credit record, Nationwide offers unique policy features for bikers with safe driving history. Its claim-free option reduces policy premium-deductible every year. They offer multi-policy and multi-vehicle discount along with cash discounts. It also allows you to pay the premium in installments while covering you for roadside assistance, towing, collision and labor.
9. Auto-owners (Category: Quick Claims process):
Auto owners are known for their quick claim reimbursement policy. This means you need no follow-ups after you submit a request for a claim. Consider it done! With its coverage in 26 states, it offers special roadside assistance, personal injury protection, third party coverage, and additional expenses if you are stranded away from home because of your motorbike.
10. Farmers Insurance (Category: Farmers):
As the name suggests, this is only for farmers in the USA. They offer home, motorcycle and life insurance plans where you get a discount if you cover all three from them. the liability limits are flexible and can be increased or decreased to match the cost of the vehicle being covered. The insurance policy is available for all brands of motorcycles.
The thrill of the open road makes motorcycling fun, but it has its own side effects and risks which can be very serious. The motorcycle insurance policy provides you cover against damages and losses caused by physical injury. Financial assistance helps in recovering from the loss incurred. The 10 best motorcycle insurance providers understand the risks of motorcycle accidents and hence enriches your ride experience.