Classic motorcycles are also called vintage or antique motorcycles. Insurers use different definitions of classic bikes but they’re all based on age. For example, one insurer labels a motorcycle classic if it’s over 30 years old.
The Antique Motorcycle Club America defines it as a motorcycle over 35 years old.
Classic Motorcycle Insurance Factors
Several factors determine your premium for a classic motorcycle:
- Value- The most important factor in developing an insurance premium for a classic motorcycle is its value. Because of this, many insurers request a vehicle inspection and an appraisal completed by a qualified professional.
- Age- In many cases the older the motorcycle is, the more the premium will be
- Production- If your bike was part of a limited production run, the value and premium will be higher
Classic Motorcycle Insurance Coverages
Similar to auto insurance, standard motorcycle insurance coverage can include:
- Bodily Injury and Property Damage Liability (BI and PD)
- Comprehensive and Collision
- Uninsured/Underinsured motorist
- Medical Payments
- Custom Parts and Equipment
- Roadside Assistance
Agreed Value Protection- However, your classic motorcycle is anything but standard. You may want to consider agreed value protection for it. This covers the full value of your classic bike. It means in the event of a total loss, you’re paid the full insured value agreed on when the policy was written (less any deductible).
Shop around for a policy that caters to classic motorcycle insurance. Rates and premiums can vary widely from carrier to carrier.