Cheapest Auto Insurance for Sport Bikes in 2024 (Save With These 10 Companies!)

Erie, USAA, and State Farm stand out as the cheapest auto insurance providers for sport bikes, offering tailored rates, exemplary service, and flexible coverage options, making it the cheapest option for sport bike owners.

But what happens if you get in an accident on your motorcycle and don’t have proper insurance? How will you handle repair costs and medical bills associated with your accident? Like auto insurance, it is imperative to carry motorcycle insurance coverage.

Our Top 10 Best Companies: Cheapest Insurance For Sports Bikes

Some people want their dream sport bike, but it might cost a lot of money to insure adequately. So if you’re shopping for your next motorcycle and don’t know what kind you’ll choose, you may want to purchase one of the cheapest sport bikes to insure.

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#1 – Erie: The Price Leader

Pros

• Competitive rates: Erie offers some of the most competitive rates for sports bike insurance in the market.
• Safe rider discount: With a potential discount of up to 15% for safe riders, policyholders can enjoy significant savings.
• Sports bike discount: Erie provides a generous sports bike discount of up to 20%, making it an attractive option for motorcycle enthusiasts.

Cons

• Limited availability: Erie’s insurance services may be limited to certain regions, potentially excluding some customers.
• Coverage options: While customizable, some customers may find Erie’s coverage options are not as diverse as those offered by other competitors.

Read more: Erie Insurance Review & Ratings

#2 – USAA: Exemplary Customer Service

Pros

• Customer service: USAA is renowned for its exceptional customer service, providing a positive experience for policyholders.
• Safe rider discount: Offering a discount of up to 10% for safe riders, USAA promotes and rewards responsible riding habits.
• Sports bike discount: With a sports bike discount of up to 15%, USAA remains cost-effective for motorcycle enthusiasts.

Cons

• Membership requirements: USAA is only available to military members, veterans, and their families, limiting accessibility.
• Limited physical presence: USAA primarily operates online and over the phone, which may be a drawback for those who prefer face-to-face interactions.

Read more: USAA Insurance Review & Ratings

#3 – State Farm: Tailored Coverage Options

Pros

• Customizable policies: State Farm stands out for offering highly customizable policies, allowing riders to tailor coverage to their specific needs.
• Safe rider discount: Policyholders can enjoy a discount of up to 12% for maintaining a safe riding record.
• Sports bike discount: A sports bike discount of up to 18% makes State Farm an affordable choice for motorcycle enthusiasts.

Cons

• Premium costs: While customizable, some riders may find State Farm’s premium costs to be relatively higher compared to other competitors.
• Online presence: The online interface may not be as intuitive or user-friendly as some customers might prefer.

Read more: State Farm Insurance Review & Ratings

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#4 – Progressive: Forgiving Policies

Pros

• Accident forgiveness: Progressive offers an appealing feature of accident forgiveness, providing peace of mind for riders.
• Sports bike discount: With a substantial sports bike discount of up to 25%, Progressive caters to the budget-conscious motorcycle community.
• Safe rider discount: Riders with a clean record can benefit from a safe rider discount of up to 20%.

Cons

• Higher premiums for young riders: Younger riders may face higher premiums with Progressive, potentially making it less competitive for this demographic.
• Limited local agents: Progressive’s focus on online services may be a disadvantage for those who prefer in-person interactions with local agents.

Read more: Progressive Insurance Review & Ratings

#5 – American Family: Bundling Savings

Pros

• Multi-policy discounts: American Family encourages bundling with multi-policy discounts, providing cost savings for customers with multiple insurance needs.
• Sports bike discount: Offering a sports bike discount of up to 22%, American Family remains affordable for motorcycle enthusiasts.
• Customizable coverage: Policyholders can tailor their coverage, ensuring that they only pay for the protection they need.

Cons

• Limited availability: American Family may not be available in all regions, limiting accessibility for potential customers.
• Average customer service: While satisfactory, American Family’s customer service may not be as exceptional as some competitors.

Read More: American Family Insurance Review & Ratings

#6 – Nationwide: Bundle and Save

Pros

• Bundling discounts: Nationwide offers significant savings through bundling, making it an attractive option for customers with multiple insurance needs.
• Sports bike discount: A sports bike discount of up to 20% caters to motorcycle enthusiasts seeking affordable coverage.
• Safe rider discount: Nationwide rewards safe riders with a discount of up to 15%, promoting responsible riding habits.

Cons

• Premiums for young riders: Younger riders may face higher premiums with Nationwide, potentially making it less competitive for this demographic.
• Limited local agents: Nationwide’s reliance on online services may not suit customers who prefer face-to-face interactions with local agents.

Read more: Nationwide Insurance Review & Ratings

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#7 – Esurance: Discounts Galore

Pros

• Various discounts: Esurance offers a variety of discounts, providing opportunities for customers to maximize their savings.
• Sports bike discount: With a sports bike discount of up to 17%, Esurance remains a cost-effective choice for motorcycle enthusiasts.
• Online convenience: Esurance’s online platform ensures convenient policy management and accessibility.

Cons

• Limited coverage options: Esurance’s coverage options may be somewhat limited compared to other competitors.
• Customer service reviews: Some customers have reported mixed reviews regarding Esurance’s customer service, highlighting room for improvement.

Read more: Esurance Insurance Review & Ratings

#8 – Farmers: Tailoring for You

Pros

• Customizable coverage: Farmers allows policyholders to customize their coverage, ensuring they get the protection they need.
• Sports bike discount: With a sports bike discount of up to 19%, Farmers remains competitive in the motorcycle insurance market.
• Additional coverage options: Farmers offers a variety of additional coverage options, allowing riders to enhance their protection.

Cons

• Premium costs: Some customers may find Farmers’ premium costs to be relatively higher compared to other competitors.
• Online interface: The online interface may not be as user-friendly or intuitive as some customers might prefer.

Read more: Farmers Insurance Review & Ratings

#9 – Allstate: Deductible Rewards

Pros

• Vanishing deductible: Allstate’s vanishing deductible feature rewards safe riding behavior over time, providing potential cost savings.
• Sports bike discount: Offering a sports bike discount of up to 21%, Allstate remains competitive for motorcycle enthusiasts.
• Customizable coverage: Allstate allows policyholders to customize their coverage, ensuring it meets their specific needs.

Cons

• Higher premiums for high-performance bikes: Owners of high-performance bikes may face higher premiums with Allstate, potentially making it less appealing for this demographic.
• Mixed customer reviews: Some customers have reported mixed experiences with Allstate’s customer service, indicating room for improvement.

Read more: Allstate Insurance Review & Ratings

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#10 – Liberty Mutual: Convenient Online Management

Pros

• Online convenience: Liberty Mutual emphasizes online convenience, providing policyholders with easy access to their accounts and services.
• Sports bike discount: With a sports bike discount of up to 16%, Liberty Mutual remains cost-effective for motorcycle enthusiasts.
• Mobile app: Liberty Mutual’s mobile app offers a user-friendly interface for convenient policy management on the go.

Cons

• Limited local presence: Liberty Mutual’s physical presence may be limited in certain regions, affecting the availability of in-person support.
• Average discounts: While competitive, Liberty Mutual’s discounts may not be as extensive as some competitors in the market.

Read more: Liberty Mutual Review & Ratings

How much is sport bike insurance?

For riders navigating the world of insurance for sports bikes, striking a balance between cost and coverage is paramount. In this section, we explore the average monthly auto insurance rates for the cheapest options, dissecting the specific coverage rates offered by leading insurance providers for both minimum and full coverage plans.

Average Monthly Auto Insurance Rates for Cheapest Insurance For Sports Bikes

Examining the table of average monthly auto insurance rates for sports bikes, it’s evident that riders have a range of options to choose from based on their coverage needs and budget constraints. The minimum coverage rates, which represent the basic protection required by law, vary among the listed insurance providers.

Erie and USAA stand out as the most affordable, offering minimum coverage at $22 per month. State Farm follows closely with a minimum coverage rate of $33, providing a slightly higher baseline of protection.

For riders seeking more comprehensive coverage, the full coverage rates are essential to consider. Progressive, at $105 per month, and American Family, at $117 per month, present relatively affordable options for riders desiring additional protection beyond the legal minimum.

However, it’s noteworthy that Farmers, with a full coverage rate of $139, offers a more extensive coverage package at a competitive rate.

At the higher end of the spectrum, Liberty Mutual and Allstate demonstrate higher full coverage rates, with Liberty Mutual charging $174 and Allstate at $160 per month. While these rates may seem elevated, riders must weigh the additional benefits and coverage provided by these companies against the increased cost.

What is motorcycle insurance?

Motorcycle insurance is just like auto insurance, but it applies to your motorcycle. If you drive a sport bike or hope to get one soon, you will need to carry motorcycle insurance on your bike.

Insuring a sport bike is similar to insuring a car or other vehicle. The type of sport bike you drive will impact your insurance rates, as will several factors, including:

• The sport bike’s age
• The sport bike’s top speed
• How often you drive your sport bike
• Your driving record
• Your credit score

Another similarity between motorcycle and car insurance is the different coverage options. Motorcycles must carry a certain amount of liability coverage, but motorcycle owners can also choose many additional coverage options, such as:

• Comprehensive coverage
• Collision coverage
• Medical payments
• Personal injury protection
• Uninsured/underinsured motorist coverage
• Motorcycle transport trailer coverage
• Equipment coverage

If you combined all the above coverages with your liability policy, you could pay a lot each month for motorcycle insurance. Therefore, it’s important to decide what matters most to make coverage choices that fit your budget.

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Which sport bikes are the cheapest to insure?

Generally, the lightweight class of sport bikes are the cheapest to insure. Cheap sport bikes in the lightweight category often include models like:

• Honda CBR250R
• Honda CBR300R
• Kawasaki Ninja 250R and 300
• Yamaha YZF-R3
• Yamaha KTM RC390

People often cite lightweight sport bikes — like those listed above — as great for beginner bikers. These bikes tend to max out at around 500cc, so they have less power and speed than other sport bikes.

One major reason lightweight sport bikes are cheaper to insure is that they are less dangerous. A bike with less power or speed is at lower risk for damage or serious injury, meaning it costs less to cover with an insurance company.

What are the most expensive sport bikes to insure?

As sport bikes get nicer, newer, and more powerful, they cost more to insure. Some of the most expensive sport bikes to insure often include:

• Yamaha R1
• Kawasaki ZX-10R
• Honda CBR1000RR
• Ducati Panigale
• BMW S1000RR
• Suzuki Hayabusa
• Honda Blackbird
• Kawasaki ZX14-R
• BMW K1200R
• Kawasaki H2

The bikes listed above max out at around 1,000cc or more. They are fast and powerful, and people who own these bikes will often pay more for insurance coverage than someone with a lightweight bike. 

Can I find cheap sport bike insurance?

If you own a sport bike and need insurance, you may be wondering whether you can find cheap coverage rates that still protect you on the road. You can do a few things to find lower rates for sport bike insurance.

A sport bike owner who also owns and insures a car may find that auto insurance companies offer discounts for bundled policies. If you insure your car and sport bike with the same insurance company, you may get a significant rate discount.

The table below shows different car insurance companies offering a discount for bundling auto and motorcycle coverage.

Car Insurance Companies That Offer Auto and Motorcycle Insurance Bundle Discounts

Another great way to lower your monthly rates for motorcycle insurance is to shop and compare quotes from different companies. When comparing quotes from several insurance companies, you can see available coverage options and your estimated monthly rates.

As you shop and compare quotes, make a note of any company that initially offers you a cheap rate. You can call each company individually and speak with an agent about your quote. You may be eligible for additional discounts to lower your final insurance rates even more.

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Do insurance companies give discounts for motorcycle insurance?

Besides the bundling discount mentioned above, insurance companies don’t offer as many discounts to motorcycle owners as car owners. Still, some insurance companies offer small discounts for safety-related reasons.

If you store your sport bike in a garage, you could get a discount on coverage, especially if you carry comprehensive coverage on your bike. Storing your motorcycle in a garage protects it from theft, vandalism, and weather damage, reducing the insurance company’s risk of covering it.

You may also get a discount on insurance coverage if you use safety devices on your bike, such as an anti-theft device. Since these mechanisms make it less likely for someone to steal your motorcycle, you could pay less for coverage.

Insurance companies often offer small discounts to sport bike owners who take a safe driving course. Maneuvering a motorcycle is difficult, so companies incentivize policyholders to take a safety course by offering a discount upon completion.

Lastly, you could join a motorcycle club. In certain instances, insurance companies offer lower rates to motorcycle owners who join local or national organizations focused on safe riding and riding in groups.

Case Studies: Auto Insurance on Sport Bikes

Case Study 1: The Unforeseen Adventure

Jennifer’s sport bike broke down during a cross-country trip. Erie Insurance’s comprehensive coverage, known for tailored rates, covered repair costs and towing expenses, showcasing the importance of reliable coverage during unexpected situations.

Case Study 2: The Military Deployment

David, a military service member, faced sudden deployment and needed insurance flexibility. USAA’s exemplary customer service, understanding of military life, and accommodative coverage adjustments provided David with peace of mind during challenging times.

Case Study 3: The Customized Adventure

Adventure-seeker Alex planned a unique motorcycle tour and sought tailored coverage from State Farm. The case study highlights State Farm’s flexibility and collaboration in crafting a coverage plan aligned with the adventurous nature of the trip.

Case Study 4: The Learning Curve

New rider Jason, navigating the learning curve, experienced a minor accident. Progressive’s forgiving policies and understanding of the challenges faced by new riders contributed to a positive and supportive insurance experience.

Case Study 5: The Multi-Vehicle Enthusiast

Sophie, owning both a sport bike and a car, streamlined insurance coverage through American Family’s bundling options. The case study illustrates the convenience and financial benefits of bundling for multi-vehicle enthusiasts.

Sport Bikes and Insurance: The Bottom Line

If you own a sport bike, it’s important to carry motorcycle insurance. You may find that insurance for your sport bike is cheap, especially if you have a lightweight bike. 

If you have expensive insurance rates for your sport bike, you could find lower rates with another company or take advantage of one or more discounts to reduce your insurance rates.

Type your ZIP code into the box and get motorcycle insurance quotes to compare today!

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