Motorcycle Insurance in Virginia: The Cheapest Quotes and Best Companies

Although affordability is an important factor to consider when choosing an insurance policy for your motorcycle, it shouldn’t be the only determining factor. Policies that have liability-only coverage are generally the most affordable option in Virginia but provide limited protection. It helps you pay for damages incurred by the other person, such as bodily injuries, but not against the cost of damages to yourself or your motorcycle. Full coverage policies, on the other hand, include collision and comprehensive insurance. These protect against collision and non-collision-related damages. For most riders, this is a better alternative.

For this study, MoneyGeek used the profile of a good rider in Virginia with a liability-only coverage of 50/100/25.

Of the several providers offering liability-only coverage policies, the ones with the cheapest insurance for your motorcycle in Virginia on average are:

• Progressive: $117 per year
• GEICO: $120 per year

On the other end of the spectrum is Harley-Davidson, which offers a policy with similar coverages at $268 per year. Progressive’s policy is 56.4% less expensive.

While liability-only policies cover expenses from damages to other people, full coverage gives the same protection plus collision and comprehensive insurance. This helps you with costs if you get injured or if your motorcycle is damaged. Riders are better off getting full coverage since these do a much better job protecting your belongings. More than that, riders who purchase their bikes through bank financing and are making payments most likely need a full-coverage policy rather than liability-only.

Using a rider’s profile with 50/100/25 coverage limits plus collision and comprehensive coverages with a $500 deductible, MoneyGeek evaluated several providers to find which ones offer the cheapest full coverage motorcycle insurance in Virginia. On average, these are:

• Progressive: $258
• GEICO: $294

Shopping around for motorcycle insurance quotes in Virginia gives you an idea of how wide the range is between carrier’s rates. Nationwide offers the most expensive policy, which costs $644 a year. Progressive’s policy is 60% cheaper.

The cost of motorcycle insurance in Virginia is impacted by multiple factors. These can include motorcycle type, driver history, driver age, coverage amount, credit score and more. The monthly averages included are based on premiums collected by MoneyGeek from various insurers. Final rates, however, may vary since carriers factor in several elements when calculating motorcycle insurance rates in Virginia.

On average, a full-coverage policy for motorcycle insurance in Virginia costs $413 annually. This is $49 or 12% more than the national average.

For riders who choose a liability-only policy, it’ll only cost $197 for a 12-month cycle, which is $56 more than the national average. Keep in mind that liability-only coverage does not offer as many protections as a full-coverage policy.

Virginia averages were calculated using a policy with $50,000/$100,000 coverage limits for bodily injury and $25,000 coverage limits for property damage. The full-coverage policy included collision and comprehensive coverage with $500 worth of deductibles, as well as the minimum limit for uninsured motorist and uninsured motorist coverage.

Different riders have different priorities when comparing motorcycle insurance quotes in Virginia. MoneyGeek’s study used three areas to rank several insurance carriers in Virginia, including affordability, available products and services and the carrier’s financial strength. Details of how each element led to the individual rankings are found in the methodology section of the page. The insurance company at the top of MoneyGeek’s list is Progressive.

The top three companies offering the best motorcycle insurance in Virginia are:

Comparing quotes on motorcycle insurance in Virginia has multiple benefits. You can request quotes online with no difficulty by having the following information on hand:

• Personal details such as your age and your address
• Your riding experience and record
• Your motorcycle’s mileage
• Your motorcycle’s year, make and model
• Preferred insurance coverages (details on these can be found below)

Considered an at-fault state, being responsible for an accident in Virginia means you shoulder the costs of the other person’s damages. Making sure you have adequate coverage protects you from spending out of your savings. Virginia law requires riders to have motorcycle insurance.

Proof of insurance is also needed when registering a bike. If the motorcycle is uninsured, you are required to pay a $500 uninsured motor vehicle fee to the DMV on top of the usual registration fees. It’s important to note that this does not provide any coverage. If you get into an accident and are responsible, you will still be held personally liable.

At the very least, your motorcycle insurance policy in Virginia should include the following:

• $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 coverage required in Virginia is 25/50/20. It means that all accidents have bodily injury coverage up to $50,000, with each person having a limit of $25,000. Should there be property damage, the policy covers up to $20,000.

Under Virginia law, uninsured and underinsured motorist coverages are required when getting motorcycle insurance. These help with damages from an accident caused by someone who isn’t insured or doesn’t have enough coverage.

Riders in Virginia need to have insurance for their bikes. Comparing motorcycle insurance quotes helps you find the best policy that suits your needs. Here are questions most riders ask.

The insurance carrier in Virginia that offers the most affordable policies was determined by comparing quotes with various coverage amounts and rider profiles. Asides from policy price (60%), availability of products and services (30%) and a carrier’s financial stability as determined by AM Best (10%) were the factors used to identify the best motorcycle insurance in Virginia. Requirements for insurance and financial responsibility were based on data from Virginia’s Department of Motor Vehicles.