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Rider Insurance Company Review


ConsumersAdvocate.org Rating: 4 / 5 (Very good)
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Rider Insurance Company is based in Springfield, New Jersey and provides motorcycle, scooter, ATV, and UTV insurance in eight states. Founded in 1971, the company today is the largest insurer of motorcycles in New Jersey. The firm is a single-line carrier that only insures motorcycles and similar vehicles.
 
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How is Rider Insurance rated?

Breakdown

4.0/5
Coverage and Additional Benefits
4.0/5
Financial Strength
4.0/5
Discounts
4.0/5
Claims and Reputation

Overall Rating: 4 / 5 (Very good)

Rider Insurance Company's primary strength comes from its singular focus on motorcycles and similar vehicles. Its policies are written to be motorcycle-specific from the ground up. The company's involvement in motorcycle events and charities is further evidence its commitment to people who ride. This strength is also a weakness in some respects, though, since the company can't offer all the discounts that multi-line carriers can and doesn't provide some of the more unusual coverage options that its larger competitors do. However, they plan to offer medical coverage in most states by the end of 2019. The company enjoys a very strong reputation with its customers and gets solid ratings for its financial strength. For those who live in the eight states where Rider Insurance does business, it is a very sound choice for motorcycle insurance.

Rider Insurance Coverage and Benefits

Coverage and Additional Benefits - 4 / 5

Rider provides all of the basic insurance coverages that riders expect, plus some extra coverages that are specific to motorcycles. Although other, larger carriers provide a wider selection of optional coverages, Rider's menu of insurance options should be big enough to satisfy most motorcyclists.
Coverage
Liability
Collision
Comprehensive
Uninsured/Underinsured Motorist
Additional Coverage
Accessories and Custom Parts
Roadside Assistance
Uninsured Motorist Property Damage
Towing and Labor
Other Specialty Coverage
Rider Insurance provides coverage for helmets and safety apparel that are damaged in accidents.
Types of Vehicles Covered
UTVs
Cruisers
Scooters
Classic/Custom Motorcycles
Trail Bikes
Mopeds
Street-Sport Bikes
High Performance
Motocross
ATVs

Rider Insurance Pricing and Discounts

Discounts - 4 / 5

Prices for all motor vehicle insurance policies depend upon a number of factors, some of which are given different weight by different carriers. Consumers are advised to obtain quotes for their specific motorcycle and to compare prices. Rider Insurance does offer some discounts, though as a single-line carrier, it can't match the range of discounts offered by large multi-line carriers. Motorcyclists who transfer coverage on any non-sport bike from another insurance company to Rider with no more than a 30-day lapse in coverage receive an unspecified discount. Similarly, Rider provides a discount for people who insure more than one vehicle with the company. In Delaware, riders receive a 10% discount for completing a state-certified defensive driving course. In Virginia, there is a 5% discount for riders 55 years and older who complete a state-certified defensive driving course. Most discounts vary from state to state, but here's a comprehensive list of all the discounts they offer: Transfer, Multiple Bike, Loyalty, Home Owner, Advanced Quote, Military, Riding Group, Claims Free, Rider Experience, Smart Rider, Anti-Lock Brake, Anti-Theft, Safety Course, Safety Instructor Course, Motorcycle Driver's License, Preferred Operator, Sport Bike Safe Operator.
Discounts
Training Course
Multi Bike

Rider Insurance Financial Strength

Financial Strength - 4 / 5

Since Rider Insurance Company is a regional single-line insurance carrier, it is not rated by A.M. Best. It is, however, rated by Demotech, Inc., a company that provides financial stability ratings for regional and specialty carriers. Demotech rates Rider's financial stability as "Substantial," which it awards to companies that "are expected to have acceptable financial stability and be able to pay all policyholder claims regardless of economic downturn or changes in the insurance marketplace."
Company Type
Underwriter
Year Founded
1971

Rider Insurance Customer Experience

Claims and Reputation - 4 / 5

Rider Insurance Company is well-reviewed on TrustPilot and receives a score of 8.7/10 there. They also hold many Google Reviews with a 4.5 star rating. Its numerous reviews on that site are generally enthusiastic and are individually responded to by the company. No complaints about the company have been made to the NAIC. There has been only complaint to the BBB about Rider in the last three years and that was quickly and amicably resolved. For these reasons, we conclude that Rider provides an excellent customer experience to its policyholders.
BBB Rating
A+
Number of BBB Positive Reviews
0
Number of BBB Negative Reviews
0
Trust Pilot Rating
8.7 out of 10
NAIC Complaint Ratio 2017
1.0
NAIC Total Complaints 2017
0
Date Collected
2019-01-24

Company Profile

Full Name
Rider Insurance Company
Company Website
http://www.rider.com
Headquarters
120 Mountain Avenue, Springfield, NJ, 07081

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