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

The cheapest motorcycle insurance may not always be the best choice for riders. In New York, a minimum coverage policy may only come with liability insurance, which doesn’t cover your motorcycle or your injuries if you cause an accident. A liability-only motorcycle insurance policy can be significantly cheaper to insure since it only covers injuries and damage to other property or people. However, a policy offering comprehensive and collision coverage is a better choice for most riders because it offers more coverage and higher liability limits.

MoneyGeek analyzed rates using the profile of a good rider in the state with a good driving record and a 50/100/25 liability-only coverage policy.

When researching the cheapest motorcycle insurance plans in New York for liability-only coverage, the following companies were found to offer the lowest average rates for a rider with a good record:

• Markel: $75 per year
• Progressive: $75 per year

Dairyland is the most expensive motorcycle insurance carrier in the state. A comparable policy from Dairyland costs an average of $202, which is 62.8% higher than Markel and Progressive.

A full-coverage policy could be the best option for motorcycle riders because it includes comprehensive and collision coverage. The policy covers damages caused by collisions, regardless of whether the collision is with a vehicle or structure. This coverage also is a protection against damages caused by vandalism, theft, weather events, falling objects or fire. Additionally, if you're making payments on your motorcycle, it's best to go for a full coverage policy rather than a liability-only policy that offers limited coverage.

After analyzing the profile of a good rider with a 50/100/25 coverage and a $500 deductible for comprehensive and collision coverage, MoneyGeek found that the following two companies offer the cheapest motorcycle insurance rates in New York, on average:

• Progressive: $183 per year
• GEICO: $223 per year

Nationwide quoted an average annual cost of $497 for full coverage, making it the most expensive provider. This is 63.1% higher than the quote from Progressive.

Various factors, such as coverage levels, motorcycle model, riding record, age and years of riding experience, determine the cost of motorcycle insurance in New York. MoneyGeek gathered the average cost of motorcycle insurance in New York from various insurance companies.

It will cost you an average of $282 per year or around $24 a month for a full coverage policy in New York. The comparison also indicates that the rate is $82 or 23% cheaper than the national annual average of $364.

If you go with a liability-only motorcycle insurance policy that doesn't cover your motorcycle or your bodily injuries caused during an accident, it will only cost an average of $124 per year or around $10 per month. Compared to the national annual average of $141 for liability-only insurance, this rate is $17 less.

Prices were evaluated for New York using a motorcycle insurance plan with bodily injury liability coverage of $50,000/$100,000 and property damage coverage of $25,000. Also considered was a full coverage policy with PIP, uninsured motorist and underinsured motorist minimum coverage and a $500 deductible.

MoneyGeek rated various insurance companies to determine the best motorcycle insurers in New York that offer affordable rates with quality service. The ratings were based on MoneyGeek's unique scoring system, which took into account motorcycle insurance quotes specific to New York, product offerings and choices, customer service, affordability and financial stability. Progressive was rated the best in New York state.

Getting a motorcycle insurance quote online in New York is fairly easy. Most insurance providers offer quotes online by collecting some important information from you. In general, companies will ask you for the following details:

• ZIP code and address in New York where the bike will be located
• Your date of birth
• Vehicle make, model and manufacturing year
• Your riding experience level
• Your riding record
• Insurance coverage elections (for more information on this, see below)

Before buying an insurance policy, it is important to understand your state's minimum coverage criteria. New York’s motorcycle insurance laws and requirements necessitate all motorcycle riders to buy an insurance plan covering no less than the following criteria:

• $25,000 per-person bodily injury liability
• $50,000 per-accident bodily injury liability
• $10,000 property damage liability
• Uninsured motorist coverage
• Underinsured motorist coverage
• Personal injury protection (PIP)

In New York, all motor vehicles must have a minimum liability-only coverage of 25/50/10. This shows that your motorcycle insurance policy in New York can provide up to $50,000 in coverage for all those injured in an accident with a limit of $25,000 per person and $10,000 in property damage coverage. In case you cause an accident, these are the liability limits that your insurance company will cover.

Yes, New York requires Uninsured Motorist, Underinsured Motorist and PIP coverage for all motor vehicles besides bodily injury and property damage coverages. All policyholders must also have 50/100 for wrongful death coverage, which means they will have $100,000 coverage for the death of two or more people in an accident and a limit of $50,000 for bodily injury.

You must weigh several factors while looking for the best motorcycle insurance in New York. The following are some of the most frequently asked questions about purchasing motorcycle insurance in New York:

Based on varying coverage amounts and driver profiles, MoneyGeek gathered motorcycle insurance quotes directly from insurance companies. This data will help you determine which insurer in New York is the most affordable. Three criteria were used to assess the best motorcycle insurance firms in New York, including policy cost in New York (60% weighting), product offerings and service (30% weighting) and financial stability metrics from AM Best (10% weighting). To provide you with the most accurate and up-to-date details, we gathered the most recent license laws and insurance coverage standards in New York from the state DMVs.