What age does a bike need to be for classic insurance?
There's no single answer for this, as it will vary between insurers, but the general rule is that your bike must be at least 20 years old to be considered a classic. Some insurers may accept younger bikes as classics, some may say your bike has to be 25 years old. Always check with each insurer what their limit is.
Why is classic bike insurance cheaper?
There are a few reasons classic motorcycle insurance is cheaper than for modern bikes - the chief one being there aren't as many claims involving classic bikes. Classic bike owners generally take extra care of their machines and cover less mileage. Fixing a maximum annual mileage is one typical way that you can save even more on insurance costs.
The market for stolen classic motorcycles is also tiny compared to that for new superbikes, say, and this decreases the risk for an insurer to quote against. This doesn't mean however that classic bikes are immune to theft.
Do I need classic bike insurance if I don't ride it?
Many classic motorbikes are never ridden on the road, but still need insurance. Whether you're doing a winter restoration project or you just take your concours classic round the show circuit on the back of a trailer, you're probably going to be looking at a 'storage policy' - which covers the bike for theft or fire damage. Specialist classic motorbike insurance brokers are the best bet for this kind of cover, which will be cheaper than a policy that includes road use.
If you do ever transport the bike on a trailer it is important to be clear whether your storage policy covers damage in transit or away from the home, or whether your car policy (which will need to include towing cover) will cover damage to whatever is being towed. One of them will need to!
How can I get cheaper classic bike insurance?
If you're a member of a classic motorcycle club, check to see if club members get insurance discounts, as this is something many classic clubs offer.
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