Classic Bike Insurance
Classic or vintage motorcycles aren’t easily replaced, so insuring them properly can bring you some much-needed peace of mind. Specialist classic motorbike insurance can differ in quite a few ways from standard insurance for a modern bike and, depending on your bike and the exact cover you require, you may have to speak to a specialist insurance broker such as our partners at Bikesure on 0330 022 7850.
What is a classic motorcycle?
There’s no hard rule on how old a motorcycle has to be before it’s seen as ‘classic’, with each insurer having a different view on the cut-off point. This can range from 15 years old to 40 years old. Generally, though, if your bike was manufactured in the 70s or 80s, it’ll be defined as a classic.
Typical examples of motorcycle manufacturers that are known for their classic rides include Harley Davidson, Triumph, and Royal Enfield.
When a motorcycle gets really old, it might fall out of the classic bike category and be seen as a vintage motorcycle instead. But don’t worry, you can still usually get insurance for vintage motorcycles.
There are also future classic motorcycles – more modern bikes that are expected to become classics soon. Some insurers offer dedicated motorbike insurance policies which provide specialised coverage for future classics.
What’s different about classic bike insurance?
Insuring a classic bike is a little different to covering a newly manufactured one for a range of reasons, including the type of coverage needed.
Classic motorcycle riders will generally be putting in fewer miles on their treasured bike, instead of using it for day-to-day riding. They’ll also often have safe storage solutions, whether that’s a garage or a secure car park, which means there’s less chance of theft.
Insurers will also likely consider that, if a bike has managed to stay on the roads for 30 years already, chances are it’s been well maintained. This is a signal of good ownership, which can also affect the premium you’ll end up paying.
It’s worth noting that some insurers might have a minimum age requirement for a classic motorbike insurance policy.
Modified classic bike insurance
One of the big downfalls of owning a classic bike is that replacement parts and touch-up paints are hard to come by.
That means that classic motorcycle owners often end up having to use replacement parts that aren’t manufacturer approved, which are technically classed as modifications by insurers. Make sure to be transparent about any non-approved parts when you’re comparing classic quotes to avoid getting an invalid policy.
Agreed value policies for classic bikes
Classic motorcycles can be eligible for agreed value policies, where you reach an agreement with the insurer about the value of your bike instead of using the market rate.
While an agreed value policy might end up being more expensive than a regular classic motorcycle policy, it can sometimes work out better if you feel your bike is being undervalued by the market.