Motorcycle Insurance in Minnesota: The Cheapest Quotes and Best Companies

For Minnesota riders looking for the cheapest motorcycle insurance, a liability-only policy is usually the least expensive. However, liability-only policies are limited to covering claims resulting from injuries and damage to third parties or property. For riders in Minnesota who want motorcycle insurance coverage that includes collision coverage and coverage for losses due to damage, theft or fire, full coverage is a better option.

To identify the cheapest motorcycle insurance providers in Minnesota, we used a 50/100/25 liability-only coverage for an average rider in Minnesota.

On average, the cheapest motorcycle insurance companies in Minnesota for liability-only coverage are:

• Markel: $50 per year
• GEICO: $70 per year

The most expensive company for liability-only coverage in Minnesota is Harley-Davidson, at $111 yearly. Markel, the cheapest option, is 54.9% cheaper.

Apart from accidents, riders in Minnesota also face other risks that could lead to losses. This means that for the average rider in Minnesota, a full coverage policy with collision coverage and additional protection against damage and loss is the best option. Insuring your motorcycle on a full coverage policy offers better protection since you will be compensated for personal injuries to yourself or damage to your motorcycle. This enhanced protection is why riders who are still making payments on their motorcycle are required to take out a full coverage policy.

MoneyGeek used a 50/100/25 coverage for a good rider with a $500 deductible for comprehensive and collision coverage to determine the least expensive provider in Minnesota.

For the average rider in Minnesota, the cheapest motorcycle insurance companies for a full coverage policy are:

• Progressive: $146 per year
• GEICO: $174 per year

Compared to Nationwide, the most expensive option, which costs $335 per year, Progressive is 56.4% cheaper.

The cost of motorcycle insurance in Minnesota depends on several factors. Your age, riding experience and history, the make and model of your bike as well as the coverage limits all impact the amount of premium you pay for your motorcycle insurance in Minnesota. To find the average costs for riders in the state, we compared motorcycle insurance rates from different companies.

Riders in Minnesota pay an average of $224 yearly or approximately $18 monthly for a full coverage policy. This rate is 38% cheaper than the national average rate of $364 per year.

The average cost of a liability-only policy in Minnesota is much cheaper at $85 per year or $7 monthly. This is $57 cheaper than the national average. However, it is important to note that a liability-only policy only covers damages that you cause to others and does not cover damage to your motorcycle or injury to yourself.

The policy coverage limits used to determine Minnesota averages were $50,000/$100,000 bodily injury coverage with $25,000 property damage, a $500 deductible for full coverage policies, PIP, uninsured motorist and underinsured motorist coverage.

Based on MoneyGeek’s rating system, the best motorcycle insurance in Minnesota is Progressive. The scoring system incorporated the insurer’s pricing in Minnesota, their financial stability and the range of products and services offered. More information about the criteria used to evaluate insurer rankings can be seen in our methodology.

Using this scoring system, we found that the top three best motorcycle insurance providers in Minnesota include:

If you want to find out how much motorcycle insurance costs in Minnesota, getting a quote online is convenient and easy. All you need to do is provide the insurer with the following information to get your quote.

• Your location or address in Minnesota
• The particulars of your motorcycle, including make and model
• Personal details including age, riding experience and any past driving record
• Optional add-on coverages required (see below for more information)

Minnesota motorcycle insurance laws and requirements require riders in the state to have minimum liability coverages. This means it is important to check whether your policy meets the stipulated minimums mandated by Minnesota law as follows:

• $30,000 per-person bodily injury liability
• $60,000 per-accident bodily injury liability
• $10,000 property damage liability
• Uninsured motorist coverage
• Underinsured motorist coverage
• Personal injury protection (PIP)

The liability coverage for bodily injury and property damage for Minnesota is 30/60/10. This means that you need a minimum coverage limit of $30,000 per person bodily injury liability, a minimum $60,000 per accident limit and at least $10,000 property damage coverage. Liability coverage covers any claims for third-party bodily injury or property damage when you are at fault for the accident.

In addition to liability coverage, Minnesota motorcycle insurance laws and requirements require riders in the state to have uninsured motorist coverage of at least $25,000 per person and $50,000 for two or more people in addition to underinsured motorist coverage of $25,000 and $50,000 for two or more people. Personal injury protection (PIP) is also required with at least $40,000 per person per accident.

Most insurers in Minnesota have user-friendly online platforms where you can get more information on motorcycle insurance in the state. You can also find answers to some of the most frequently asked questions here.

The least expensive company for motorcycle insurance in Minnesota was determined by obtaining quotes from different providers using varying driver profiles and coverage amounts. MoneyGeek also rated the best motorcycle insurance companies in Minnesota using three factors, including policy cost in Minnesota (60% weighting), product offerings and service (30% weighting) and financial stability metrics from AM Best (10% weighting). We used the most recent Minnesota license laws and insurance coverage requirements gathered from the state DMVs to ensure the accuracy of the data.