AM Best rating: A++ (Superior)
J.D. Power customer satisfaction rating (1,000-point scale): 871
(Credit: Geico)
AM Best rating: A (Excellent)
J.D. Power customer satisfaction rating (1,000-point scale): N/A
(Credit: Markel)
AM Best rating: A++ (Superior)
J.D. Power customer satisfaction rating (1,000-point scale): 890
(Credit: USAA)
AM Best rating: A+ (Superior)
J.D. Power customer satisfaction rating (1,000-point scale): 856
(Credit: Ken Wolter/Shutterstock.com)
AM Best rating: A+ (Superior)
J.D. Power customer satisfaction rating (1,000-point scale): N/A
(Credit: Dairyland)
AM Best rating: A++ (Superior)
J.D. Power customer satisfaction rating (1,000-point scale): 876
(Credit: Nationwide)
A symbol of America’s rebellious spirit, registrations of motorcycles have steadily been increasing over the years. The Insurance Institute for Highway Safety (IIHS) reported registrations have roughly doubled since 2002, growing from 4.3 million to 8.6 million in 2021.
Along with the number of bikes registered, the average age of motorcycles registered is also rising. In 2002, the average age of registered motorcycles was nine years, while in 2021 the average bike was 13 years old. Half of the motorcycles registered this past year were at least 13 years old, according to IIHS.
Unsurprisingly, California and Florida see the most motorcycle registrations, accounting for 952,977 and 645,012, respectively, according to IIHS numbers.
The growing number of people riding motorcycles along with bikes featuring luxurious and advanced systems (such as ABS) are expected to propel the market in the years ahead. Globally, the market for motorcycle insurance is anticipated to grow 5%, compounded annually, through 2025, according to Market Research Future.
The above slideshow highlights the top-rated motorcycle insurance companies based on AM Best ratings and J.D. Power’s customer satisfaction index, according to ValuePenguin.com. Concerning the latter, the J.D. Power ratings listed are based on auto insurance claims satisfaction as the organization doesn’t break out motorcyclist separately. ValuePenguin noted both types of customers are likely to have similar experiences.
