Motorcycle Insurance in Illinois: The Cheapest Quotes and Best Companies

The state’s minimum required liability coverage policy is typically the cheapest motorcycle insurance option in Illinois. Although a liability-only policy costs less than full coverage, it only covers third-party bodily injury and property damage liability costs. Comprehensive and collision coverage costs more but offers higher liability limits and protection for your injuries and repairs. MoneyGeek utilized the costs of a sample rider with a good riding record and a 50/100/25 liability-only policy.

According to MoneyGeek’s research, the cheapest insurers for a good rider with liability-only coverage in Illinois are:

• Nationwide: $105 per year
• Markel: $138 per year

Dairyland has the highest motorcycle insurance rates in Illinois, at $283 per year on average. Motorists with a Dairyland policy pay 62.8% more than what Nationwide policyholders pay per year.

Full coverage motorcycle insurance is vital if you want to get higher coverage limits on your policy. With full coverage, you will receive protection from damage caused by collisions with structures or other vehicles. The policy also covers the loss or damage of your bike due to theft, vandalism, fire and other non-collision events.

As per MoneyGeek’s analysis, the cheapest insurers for a full coverage motorcycle insurance policy with 50/100/25 coverage and a deductible of $500 for a good rider are:

• Progressive: $305 per year
• Harley-Davidson: $330 per year

Markel has the highest average cost of full coverage motorcycle insurance in the state at $580 per year. That’s 47.4% more than the cheapest insurers. A full coverage policy may be the best option if you are still making payments on your motorcycle.

Various factors influence the average cost of motorcycle insurance in Illinois, including your age, riding record, experience, motorcycle model and coverage level. MoneyGeek used various rider profiles to collect and analyze motorcycle insurance quotes across multiple companies to determine its average scores.

On average, the cost of motorcycle insurance in Illinois for a full coverage policy is $417 per month or about $35 per month, which is $53 higher than the national average.

The cost of a liability-only motorcycle insurance policy is $176 per year on average or about $15 per month. That’s $35 more than the national average. While this is cheaper than a full coverage policy, it does not cover your injuries or bike if you get involved in an at-fault accident.

The above figures represent average rates for a policy that has a bodily injury liability coverage of $50,000/$100,000, a property damage coverage limit of $25,000, a deductible of $500 and minimum uninsured motorist coverage.

MoneyGeek’s scores help riders find an insurance provider that offers affordable and quality service. The unique scoring system comprises factors like financial stability, affordability and product offerings and services. The best motorcycle insurance provider in Illinois is Progressive, with a score of 94.38 out of 100.

Based on the MoneyGeek study, the best motorcycle insurance in Illinois is from:

Motorcycle insurance rates in Illinois depend on several factors, including your age and riding record. The best way to find lower rates is by comparing quotes between several companies. Insurers allow you to request a quote online, but there is some information that you must provide, including:

• Your birthdate
• Year, make and model of your motorcycle
• Riding history and experience
• ZIP code and address where you will keep the bike
• Insurance coverage elections (check below for more information)

According to the Illinois motorcycle laws and requirements, every rider must have at least a minimum liability-only motorcycle insurance policy. The state minimum requirements are:

• $25,000 per person bodily injury liability
• $50,000 per accident bodily injury liability
• $20,000 property damage liability
• Uninsured motorist coverage
• Underinsured motorist coverage

The minimum liability-only coverage limit for motorcycles in Illinois is 25/50/20. If you purchase a liability-only policy, it should have at least $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident and $20,000 as property damage liability coverage. The limits represent the maximum amount your insurer will pay against your claims should you cause an at-fault accident.

In addition to bodily injury and property damage liability coverage, all riders in Illinois require uninsured motorist and underinsured motorist coverage as part of their minimum liability insurance policy.

The cost of motorcycle insurance in Illinois varies depending on several factors. Some of the common questions about motorcycle insurance in the state include:

To help you differentiate the cheapest motorcycle insurance providers from the most expensive, Moneygeek used quotes sourced from various providers at different coverage levels to determine the average rates for each insurer. The main factors used to determine scores in this study are policy costs (60% weighting), AM Best’s financial stability rating (10%) and product offerings and service (30%). MoneyGeek obtained the state’s laws and requirements from the DMV to ensure you get accurate and up-to-date information.