Classic Bike Insurance - The Best Choice for Precious Vehicles
These days it’s hard to know what insurance group your bike is likely to fall into. It’s now common for insurers to have up to 65 groups for two wheeled vehicles, and those may have sub-groups to boot, leading to upwards of 150 variations. More and more powerful bikes coming onto the market have meant that insurance policies have very much had to move with the times and change accordingly. If yours is an older bike that you cherish, you might well wonder what it takes to qualify for classic bike insurance.
Suitability for Classic Bike Insurance
Classic bike insurance is what you can apply for if your bike is over 15-20 years old. If, however, the bike is being used as a main vehicle for everyday use, for commuting for example, then a standard policy will usually be more appropriate. The vehicles that are suited to classic bike insurance will usually be maintained as collectible items, which mean that they’re more likely to be at home polished to perfection than stuck in traffic on the motorway. As a guide, classic bike insurance is for vehicles that do less than 5,000 miles per year, which means that they’re usually garaged and users will have a more ordinary means of transport for necessary journeys. Classic bike owners who are paid up members of a specialised club for collectors can expect discounts on their insurance. Classic bikes will be those that owners take to the roads at weekends and during holidays. Classic bike policies are for those who want to safeguard their prized possessions.
What You Need To Get Classic Bike Insurance
It’s common for insurers who offer classic bike policies to require several photographs of the vehicle. These photographs will show every aspect of the bike to be insured. Underwriters will also ask for additional information and may ask to see a purchase receipt and invoices covering any restoration work that’s been done. An independent valuation may be asked for, which should come from a recognised source such as a club valuation officer or a qualified motor engineer.
Factors Affecting Classic Bike Policies
Insurance packages for classic bikes are commonly affected by the same factors as you’d expect to take into consideration with more ordinary policies. Women can usually expect some form of discount. Those with convictions for dangerous driving or similar offences can expect higher premiums. Young riders might expect to pay more. Performance is a factor, so expect a high performance classic bike in terms of power to weight ratio to cost more. As with other policies, postcode matters. Policies for those living in high crime areas such as major cities will pay more than those in sleepy hamlets.