Motorcycle Insurance in Florida: The Cheapest Quotes and Best Companies

The most affordable option for motorcycle insurance in Florida is a policy that meets only the state’s minimum coverage limits for bodily injury and property damage liability insurance. While choosing a liability-only policy costs significantly less than full coverage, it may not always be the best option. Having comprehensive and collision coverage is usually the better option for most Florida riders as it provides more protection and higher liability limits. For this analysis, MoneyGeek evaluated rates for a good rider with 50/100/25 liability-only coverage.

MoneyGeek’s study shows that the cheapest liability-only motorcycle insurance policies in Florida are from:

• Markel: $58 per year
• Progressive: $70 per year

On the other hand, Dairyland charges the most expensive rate for liability-only motorcycle insurance. Its average rate in the state is $249 per year, 76.7% more expensive than Markel.

If you want better protection, opting for a full coverage policy with comprehensive and collision insurance may be worth considering. This level of coverage will protect you against damages due to collisions with another vehicle or other structures. At the same time, it pays for damages to or the loss of your bike due to non-collision incidents like fire, theft or vandalism. Riders making payments on their motorcycles may need to buy a full coverage policy.

MoneyGeek used a good rider with 50/100/25 coverage and a $500 deductible for this analysis. Based on the research, the cheapest motorcycle insurance companies in Florida for full coverage are:

• Progressive: $200 per year
• Markel: $288 per year

Meanwhile, the company with the most expensive rate for a full coverage policy in Florida is Dairyland. The average rate of Dairyland policies with this level of coverage is $361 per year, which is 44.6% more than Progressive typically charges.

Motorcycle insurance rates in Florida vary depending on certain factors, such as coverage amounts, motorcycle model, riding record, age and years of riding experience. MoneyGeek gathered and compared average motorcycle insurance premiums for different rider profiles from insurers offering coverage in Florida.

For full coverage motorcycle insurance in Florida, the average premium cost is $297 per year or approximately $25 per month. In comparison, this rate is $67 cheaper than the national average of $364 per year. That means Florida riders tend to pay 18.41% less for motorcycle insurance.

The average cost of liability-only insurance in the state is $135 per year or about $11 monthly. The national average is $141 per year, which means Florida has a 4.26% cheaper liability-only insurance rate. Liability-only insurance does not cover the policyholder’s motorcycle or injuries if they caused the accident.

Policy coverages used to determine Florida averages were $50,000/$100,000 in bodily injury coverage with $25,000 for property damage and a $500 deductible for full coverage policies.

To calculate the final rankings and determine the best motorcycle insurance in Florida, MoneyGeek used a unique rating system that includes products and services, affordability and financial stability. Based on the study, Progressive is the highest-scoring carrier in the state. Learn more about MoneyGeek’s methodology below.

The best motorcycle insurance companies in Florida are:

Florida riders can get motorcycle insurance quotes online. Insurance carriers will require some pieces of information to help them calculate your premiums. Here is what you will need:

• ZIP code
• Florida address where you keep your bike
• Motorcycle year, make and model
• Your birthdate and riding record
• Insurance coverage elections (for more information on this, see below)

When it comes to motorcycle insurance, riders need to know the minimum requirements for the state where they reside. Motorcycle insurance in Florida is not required by law. However, it is strongly recommended. Riders who do not have motorcycle insurance in Florida are more vulnerable to potential lawsuits if they cause damages or injuries due to an accident.

Florida riders can get a combined single limit policy with at least the following coverages:

• $10,000 per-person bodily injury liability (BI)
• $20,000 per-accident bodily injury liability
• $10,000 property damage liability (PD)
• Personal injury protection (PIP)

Florida does not impose minimum coverage limits for riders as motorcycle insurance is not required in the state.

Motorcycle insurance in Florida is not required. While uninsured motorist, underinsured motorist and PIP coverage are not mandatory, riders can still purchase these coverages as part of their motorcycle insurance policies.

Finding the best motorcycle insurance in Florida requires riders to consider various factors. Here are some of the most commonly asked questions about motorcycle insurance in the state.

MoneyGeek collected motorcycle insurance quotes directly from insurance providers based on varying coverage amounts and driver profiles to help our users determine which is the least expensive provider in Florida. The best motorcycle insurance companies in Florida were determined using three factors, including policy cost in Florida (60% weighting), product offerings and service (30% weighting) and financial stability metrics from AM Best (10% weighting). The most recent license laws and insurance coverage requirements in Florida were gathered from the state Highway Safety and Motor Vehicles unit to ensure accurate and up-to-date information.