Motorcycle Insurance in New Jersey: The Cheapest Quotes and Best Companies

Generally, the cheapest insurance option for most riders is a policy that only meets the state’s minimum liability requirements. However, the least expensive motorcycle insurance in New Jersey may not always be the best choice. While liability insurance costs significantly less than a full-coverage plan, comprehensive and collision coverage insurance provides more protection and higher liability limits that come in handy after an accident. For this study, MoneyGeek used a rider with a good driving history and a 50/100/25 liability-only coverage plan.

For a good rider looking for liability-only motorcycle insurance in New Jersey, the most affordable carriers are:

• GEICO: $150 per year
• Progressive: $161 per year

The most expensive insurance carrier for this coverage level is Harley-Davidson. The average premium for Harley-Davidson liability-only motorcycle insurance in New Jersey costs $393 per year, 61.8% more than GEICO.

Full-coverage motorcycle insurance in New Jersey is the best option for riders who want better protection. Aside from covering damages due to collisions, a full coverage policy also pays for your damages after a covered incident. It’s also important to keep in mind that full-coverage insurance is usually required if you’re still making payments on your bike.

MoneyGeek analyzed average rates for a rider with a good driving history, a 50/100/25 coverage policy and a $500 deductible for comprehensive and collision coverage. The cheapest options for this coverage are:

• Progressive: $457 per year
• Dairyland: $492 per year

The most expensive insurance provider for a full coverage policy in New Jersey is Markel, at $693 per year. That means you can save up to 34.1% by shopping around.

The cost to insure a motorcycle in New Jersey is highly affected by multiple factors, such as coverage amounts, motorcycle model, riding record, age and years of riding experience. MoneyGeek collected and compared motorcycle insurance quotes in New Jersey from different companies offering coverage in the state.

For a 12-month period, the average cost of a full coverage policy in New Jersey is $557, or $46 per month. New Jersey riders tend to pay 34.6% more than the national average of $364.

The average cost of a liability-only motorcycle insurance plan in the state is $271 per 12-month period or $23 per month. The national average for this type of policy is $141, which means New Jersey riders typically pay 48% more. However, liability-only coverage does not cover your injuries or damage to your bike after an at-fault accident.

Policy coverage used to determine New Jersey averages were $50,000/$100,000 bodily injury coverage with $25,000 property damage, a $500 deductible for full coverage policies and PIP and Uninsured motorist minimum coverage requirements.

MoneyGeek used a unique rating system to determine the best motorcycle insurance in New Jersey. Final scores are based on motorcycle quote data unique to New Jersey, product offerings and selection, services and financial stability. Progressive got the highest score in the state.

The top three highest-scoring companies for motorcycle insurance in New Jersey are:

Riders can get motorcycle insurance quotes in New Jersey online. Insurance carriers will need some pieces of information to calculate your annual premium, including your:

• Birthdate
• ZIP code
• New Jersey address where your bike will be located
• Riding record
• Insurance coverage elections (for more information on this, see below)

Motorcycle insurance in New Jersey is a state requirement. So, riders should be familiar with the state minimum liability limits. Your policy should have at least:

• $15,000 per-person bodily injury liability (BI)
• $30,000 per-accident bodily injury liability
• $5,000 property damage liability (PD)
• Uninsured motorist coverage (UM)
• Underinsured motorist coverage (UIM)
• Personal injury protection (PIP)

New Jersey motorcycle insurance laws and requirements include bodily injury and property damage coverage. Generally, riders can choose between two types of insurance policies. The first one is the basic policy, which has 10/10/5 limits. That stands for $10,000 for bodily injury per person and accident and $5,000 for property damage liability per accident. The second type of policy is the standard policy with 15/30/5 limits. Choosing this requires riders to have at least $15,000 for bodily injury liability per person, a total of $30,000 per accident and $5,000 for property damage liability. The limits refer to the maximum amount that the insurer will pay if you cause an accident.

New Jersey riders must have personal injury protection (PIP) coverage with at least $15,000 per person or accident. If you choose to purchase a standard policy, you should also have uninsured/underinsured motorist coverage. The limits will be up to the amounts you select for the liability coverage.

There are various factors to consider when choosing the best motorcycle insurance in New Jersey. Below are some of the frequently 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 find the least expensive providers in New Jersey. The best motorcycle insurance companies in New Jersey were determined using three factors, including policy cost in New Jersey (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 New Jersey were gathered from the state’s Department of Banking & Insurance to ensure accurate and up-to-date information.