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What Is Classic Motorcycle Insurance?

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  • Written By: Tara Barnett
  • Edited By: Melissa Wiley
  • Last Modified Date: 15 April 2014
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    Conjecture Corporation
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Classic motorcycle insurance is a type of insurance designed specifically to meet the needs of owners of motorcycles made before a certain year. Typically, motorcycles classified as classic or vintage have been restored to both their aesthetic and functional prime. In many cases, classic motorcycle insurance is used only for bikes that are ridden primarily in shows and parades. Given that this type of insurance is made specifically for people with classic motorcycles, the insurance itself often predicts what types of repairs and services a motorcycle enthusiast might need. The exact terms of the insurance policy being offered may differ slightly, so it is essential to discuss the options with an insurance broker.

When a person buys classic motorcycle insurance, it is typically in an effort to prevent major loss due to an accident or theft. A classic motorcycle is often a large investment worth significant amounts of money, and the motorcycle is often an object of personal significance as well. In many cases, classic motorcycle insurance will replace a stolen or irreparably damaged bike entirely. This type of insurance can also be used to replace specific rare parts or pay for work done to the bike.

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One thing to investigate when looking into classic motorcycle insurance is how often a person can ride the bike under the rules of the insurance. Many insurance plans are designed for people who ride their bikes for only a certain number of miles every year or those who do not ride the bike at all. Riding the bike frequently, from the insurance provider's perspective, is an activity that increases risk. Classic motorcycle insurance may not be an option if a person rides the vintage bike as a primary mode of transportation, but there are some insurance providers who will work with clients to come up with an amicable solution.

Preparing to buy classic motorcycle insurance can be daunting, but it is important to do it correctly so that, in the event of an accident or theft, the insurance company will provide compensation in the appropriate amount. This means that the bike needs to be insured after having been appraised at its true value when it is completely restored. Sometimes it is worthwhile to look into the extra options offered by the insurance company, which may include roadside assistance, towing, or discounts for insuring more than one bike in a collection. These small additional benefits can add up to make one plan significantly more valuable than another.

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