Classic Motorbike Insurance

Insurance for classic bikes is probably cheaper than you may might think and many insurance firms will offer you good deals, especially if you are a member of a classic or vintage motorbike club. Different companies classify classic bikes by different years, but basically a classic bike is one that was made and registered before 1983, although some insurers regard a bike as classic if it was built before 1988. More often, though, bikes built between 1983 and 1988 are termed ‘modern classic’ bikes.

Premiums are low for classic bikes because, for one thing their owners are usually aged upwards of 35, and they don’t use the bikes every day, so mileage is low. If you have a classic bike, then you are probably very security conscious about it as no one wants to have such a machine stolen. You probably don’t leave it in the rod overnight, but have a secure garage to keep it in and all these things are taken into consideration just as they are for car insurance. If you are a female owner of a classic bike, then you will get a further discount, as females are considered less risky to insurers than males. There are also discounts for collectors who want to insure more than one bike.

If you shop around online, you can get insurance for less than £100 with £50 excess, and an agreed value payment for the bike if it is damaged and not repairable. This means that you will get the amount agreed with your insurers rather than the market value of the bike, which is what you would require for a customised bike.

Some insurers will include track day insurance in the policy, so you don’t have to get a separate one each time you take your bike to a track event. Insurers class these events as rallies and off-road competitions as well as those that take place on a race track. You can also get salvage retention, meaning that if the bike is considered an insurance write off, you not only receive the sum agreed for the bike, but you also get to keep the wreckage.

If you go abroad to events on your bike, some insurers will also give you green card cover for up to 90 days to enable you to drive on European roads, and the knowledge that you are insured will definitely give you peace of mind. You will also be covered to ride your friends’ bikes.

Insurers will offer optional cover for breakdown, personal injury, and for your protective clothing, leathers, gloves, helmet etc. The protective gear can be insured for up to a thousand pounds normally. You can also get free of charge legal cover to cover legal expenses of up to 50,000 pounds.
 
A lot of insurers would prefer if you talked to one of their expert classic bike underwriters, as they are more flexible than computers and can offer you the best deal for your personal situation. So you should choose a company and then talk to their experts to get the best possible deal for you rather than trying to shop online for a quote.