Geico offers motorcycle insurance coverage for standard, racing and antique bikes

Insurance
Geico offers motorcycle insurance coverage for standard, racing and antique bikes.

This article:

Geico Company Overview
Geico Motorcycle Insurance Coverage
How Much Does Geico Motorcycle Insurance Cost?
Reviews And Ratings For Geico
Our Take On Geico Motorcycle Insurance: 4.5 Stars
Top Recommendations For Motorcycle Insurance
Geico Company Overview
Geico was originally established in 1936 to provide insurance for government employees. It has grown to be one of the largest players in the U.S. Insurance market. It is a Berkshire Hathaway wholly-owned subsidiary and has been AM Best A++ rated.

Geico motorcycle insurance can be purchased in all 50 states. The lowest-cost policies start at $70 per year. Geico offers coverage for your motorcycle only or as a bundle with homeowners, renters, and auto insurance policies.

 

Geico Motorcycle Insurance
Geico’s motorcycle insurance products are similar to car insurance. Most states require that you have a minimum level of liability coverage. This will cover the cost of any property damage or medical bills incurred by other riders and drivers if you are at fault in an accident. You can purchase additional coverage beyond what is required by the state.

These are the main types of Geico motorcycle insurance that you can purchase, along with a few additional options.

Geico Motorcycle Insurance What it covers Are You Require to Have It?
Bodily injury liability If you are responsible for an accident, medical bills for your passengers as well as other parties involved in the accident. In most states, required
Liability for property damage You are responsible for any property damage caused by an accident In most states, required
Collision No matter what your fault, you can have your motorcycle repaired or replaced if it is involved in an accident. Your lender may require you to finance your bike even though it is not required by law.
Comprehensive If your bike is stolen, vandalized or damaged by nature, you can repair or replace it. Your lender may require you to finance your bike even though it is not required by law.
Medical payments You and your passengers will be responsible for any medical bills incurred as a result of an accident. Only in Maine and Pennsylvania
Uninsured/underinsured motorist coverage In the event of an accident with an underinsured or uninsured motorist, your medical bills and bike repairs will be covered Only in certain states
Accessories coverage Repair or replacement for damaged accessories such as non-stock sidecars and trike conversion kit seats, saddlebags, electronics, and seats Not necessary
Helmet coverage High-end helmets can be replaced Not necessary
For a small fee, policyholders can add emergency roadside assistance on to their motorcycle insurance policy.

 

How much does Geico Motorcycle Insurance cost?
A Geico motorcycle insurance policy has no fixed price. We were provided with sample quotes from Geico to compare different riders and coverage levels. Plans ranged from $60 to just under $4,000 each year.

Premiums can vary greatly from rider-to-rider and are dependent on the coverage you buy. There are also a variety of factors that affect premiums, such as:

Age Riders below 25 years old are more likely to be offered higher rates.

Gender: Insured men typically pay more than insured women.

Experience: For experienced riders, you can get lower rates.

Driving history Geico motorcycle insurance rates will be affected if you have a crash on your driving record.

Credit score Customers with better credit scores might be eligible for lower rates.

Please state: Your state’s minimum insurance requirements can have an impact on your insurance costs, as well as the winter conditions in your state. States with more severe winters are often more affordable for motorcycle riders, as they are seasonal.

Type of motorcycle The most expensive bikes to insure are sports bikes. Larger engines like touring bikes are more costly to insure than standard bikes but less expensive than sports bikes.

Use: A bike that is used for recreation will cost less than a bike that you use daily for work.
Geico was contacted to provide a range of samples and quotes. Below is the cost information that we gathered. Please note that minimum coverage is for liability only. Full coverage covers liability and comprehensive and collision policies.

Type of Rider Types of motorcycle Coverage Level Geico Motorcycle Insurance Annual Price
Low risk:
Tickets and accidents are not allowed
In the last three years Standard Minimum $63.80
Complete Coverage $408.65
Sport Minimum $107.03
Complete Coverage $2,171.65
High-risk
For an accident, you are at fault
In the last three years Standard Minimum $282.15
Complete Coverage $1,005.20
Sport Minimum $411.27
Complete Coverage $4,043.82
These prices are lower than those we received from other competitors. However, your Geico motorcycle insurance policy may have a different cost.

Geico offers discounts that could further reduce your rates. Geico offers discounts on motorcycle insurance policies, including:

Multi-policy Discount
Mature rider discount
Renew your policy with loyalty discount
Multiple motorcycles insured at a discount
Switching to another provider will get you a discount
Completing a safety course will get you a discount
For being a Motorcycle Safety Foundation instructor, you get a discount
Bundling discounts for policies such as life, home, renters or condo insurance
Customers have the option to pay their annual premium in one lump sum, monthly installments, or over time. Your premium may be increased if you pay your premium monthly or in installments.

 

Reviews And Ratings For Geico
Geico enjoys a solid industry reputation. Geico currently has an A+ rating with the Better Business Bureau (BBB). It has received just over 3000 complaints in the last three years. Geico manages millions of policies each year, so this number of complaints seems low.

Mixed customer reviews are posted on the BBB website. Geico has received praise from customers for their excellent claims service and friendly representatives. Customers have complained about having to cancel their policies or experiencing rate increases after filing a claims. Most insurers will increase rates for customers who file claims.

Geico’s claims process is one of the best in the industry. It scored above average in all regions in the J.D. Power 2020 U.S. Auto Insurance Satisfaction Study SM.

 

Geico Motorcycle Insurance: Our Take: 4.5 Stars
Geico motorcycle insurance is a great choice to protect your bike. Geico’s rates are among the most affordable of all the companies that we surveyed. Geico also has a solid industry reputation. AM Best’s A++ rating for financial strength is an impressive sign that the company has a better ability to pay claims.

Geico has the best-priced coverage options for minimum protection. Geico also offers excellent rates for riders at high risk who need full coverage motorcycle insurance.

 

Top Tips for Motorcycle Insurance
It makes sense to continue to be a Geico customer if you want to insure your bike. It’s easy to add Geico motorcycle insurance online. If you do not have an auto policy, and are interested in cheap motorcycle insurance, it is worth comparing Geico quotes with other options.

Continue reading to learn more about State Farm and Progressive, two other providers we recommend. To kick-start your research, you can use the below tool.

Progressive: 4.5 stars
Similar to Geico coverage, Progressive motorcycle insurance is available for a wide range of vehicles, including off-road bikes and vintage motorcycles. Since 1937, the company has been in operation and administers millions of policies each year. Progressive’s rates compare well to those offered by Geico. There are many types available including roadside assistance and enhanced injury protection.

State Farm: 4.5 stars
State Farm motorcycle insurance provides standard protection as well as special policies for sidecars and protective gear. State Farm plans also offer emergency roadside assistance, trip interruption reimbursement, and other benefits. State Farm, the U.S.’s largest insurer, is financially sound and has a superior capability to pay claims. This can be seen in its AM Best A++ rating. State Farm is a well-respected national provider of motorcycle insurance and has been in operation for close to 100 years.

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