Updated: October 16, 2024
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To identify the cheapest motorcycle insurance in Indiana, MoneyGeek utilized a sample rider with a good riding history and a 50/100/25 liability-only insurance policy. While the minimum policy costs less, it may not be the best option since it only includes third-party bodily injury and property damage coverage.
If you wish to get more protection and higher limits, you may need to purchase comprehensive and collision coverage, although this will mean that you pay more for your premiums.
From the MoneyGeek study, Indiana companies with the lowest rates for motorcycle insurance include:
The most expensive insurer in the state is Dairyland, charging an average of $129 per year. Riders can save about 41.7% of this amount if they get their coverage from the cheapest provider in the state.
Company | Annual Premium | |
|---|---|---|
1. | Progressive | $75 |
2. | GEICO | $99 |
3. | Markel | $100 |
4. | Harley-Davidson | $120 |
5. | Nationwide | $121 |
6. | Dairyland | $129 |
To obtain average full coverage motorcycle insurance costs in Indiana, MoneyGeek analyzed prices using a 50/100/25 policy with a deductible of $500. Full coverage policies cost more but provide better protection for your assets, including coverage for collisions with structures and other vehicles. They also protect your bike from loss or damage due to non-collision incidents such as fire, vandalism and theft. If you are still making payments for your motorbike, MoneyGeek recommends that you get full coverage insurance instead of the minimum liability coverage.
According to MoneyGeek’s study, the companies with the lowest average cost of motorcycle insurance in Indiana for a full coverage policy are:
The most expensive motorcycle insurance for a full coverage policy in the state is from Nationwide. Customers pay an average of $1,081 per year, which is 85% higher than Dairyland’s average rate.
Company | Annual Premium | |
|---|---|---|
1. | Dairyland | $162 |
2. | GEICO | $224 |
3. | Harley-Davidson | $254 |
4. | Progressive | $319 |
5. | Markel | $653 |
6. | Nationwide | $1,081 |
Motorcycle insurance companies in Indiana determine their rates using various factors such as riding history and experience, age, motorcycle model and amount of coverage. MoneyGeek determined the average rates across the state by comparing motorcycle insurance quotes from different insurers.
A full-coverage policy in the state costs an average of $449 per year, which is about $37 per month and $85 more than the national average. Meanwhile, a minimum liability-only policy costs $107 per year on average. That’s about $9 per month and $34 less than the national average. If you get involved in an at-fault accident, a liability-only policy will not cover your bike or injuries.
The policy used to determine the above scores has a bodily injury coverage limit of $50,000/$100,000, a property damage coverage limit of $25,000 and a deductible of $500 for a full coverage policy. It also has minimum uninsured motorist coverage.
Type | Cost | National Average | Delta vs National Average |
|---|---|---|---|
Full Coverage | 449 | 364 | 85 |
Liability | 107 | 141 | -34 |
MoneyGeek ranked the best motorcycle insurance in Indiana by analyzing different coverage levels for each insurer. The data used in this research is unique to motorcycle insurance rates in the state. Overall scores depend on policy costs, financial stability scores from AM Best and product offerings and selection. From the scores, the best insurer in the state is Progressive.
Pros
Cons
Progressive has the highest MoneyGeek score, at 94.95 out of 100. Its liability-only policy costs an average of $75 per year, while a full coverage policy from the company costs roughly $319 per year.
Customers can purchase several specialized coverage options from Progressive. For instance, full replacement, accessories and OEM parts coverages are automatically added to your standard policy. Additional coverage options include total loss coverage that applies to new motorcycles and carried contents coverage that covers any items carried on your motorbike if they get damaged, lost or stolen.
Riders may also get roadside assistance to tow their bike if it breaks down anywhere in the country. In addition to this coverage, they can also add trip interruption to their policy, which pays for accommodation, transport and food expenses up to $500.
Progressive also deducts 25% of your deductible for each claim-free year.
Pros
Cons
Dairyland is the third-best insurer in Indiana, with a MoneyGeek score of 85 out of 100. A minimum liability-only policy from the company costs an average of $129 per year, whereas a full coverage policy costs $162 per year.
Aside from standard insurance coverage, Dairyland offers various specialized coverage options, including rental reimbursement insurance to cover the cost of renting a vehicle if your bike gets damaged and roadside assistance for towing your motorcycle in case of electrical or mechanical issues.
Riders with multiple bikes, members of a motorcycle riders’ association and those who complete a safety course receive discounts on their insurance premiums with Dairyland. You also pay less if you switch to Dairyland from another insurer.
Motorcycle insurance companies in Indiana allow you to request a quote through their websites. You will need to provide several details to complete the process. This information may vary from one provider to the next but typically includes:
Before purchasing motorcycle insurance in Indiana, you need to ensure that the policy meets the minimum requirements for the state. Indiana’s motorcycle insurance laws dictate that your policy should include the following minimum liability requirements:
In Indiana, riders must have at least a minimum liability-only policy with 25/20/25 as the coverage limits. While purchasing motorcycle insurance coverage in the state, you will need to ensure that it has a bodily injury coverage of at least $25,000 per person, $50,000 per accident and $25,000 as the property damage coverage limit. Indiana’s minimum liability coverage limits represent what your insurer will pay if you get involved in an at-fault accident.
All liability insurance policies in Indiana should include uninsured and underinsured motorist coverage unless riders reject it in writing. The limits for uninsured motorist coverage are the same as the minimum liability-only limits.
To get more protection in Indiana, MoneyGeek recommends that you purchase a full coverage policy with 50/100/25 limits. The 100/300/100 policy is even better since it costs only a few dollars more but provides significantly higher limits. You should also ensure that your uninsured motorist insurance coverage matches the above limits.
Motorcycle insurance helps you protect your bike from damage caused by road and non-road incidents. Some of the common questions you may come across while looking for motorcycle insurance coverage in this state are:
The cheapest insurer in Indiana for a full coverage policy is Dairyland, with an average cost of $162 per year. Meanwhile, the most affordable motorcycle insurance provider for a minimum liability-only policy is Progressive, at $75 per year.
The average cost of liability-only motorcycle insurance in Indiana for most riders is $107 per year or about $9 per month.
MoneyGeek ranks progressive as the best motorcycle insurance company in Indiana.
Yes, motorcycle insurance is a mandatory requirement in Indiana.
To help you get the cheapest motorcycle insurance provider in Indiana, MoneyGeek compared insurance quotes across various driver profiles and coverage levels. The best scores were based on three factors: AM Best’s financial stability ratings (10% of the total score), cost of coverage (60%) and product offerings and services (30%).
MoneyGeek obtained the most recent laws and minimum requirements from Indiana’s DMV to ensure that you get the latest and most accurate information.
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.
