Is My Old Motorcycle a Classic Bike?

When you think of vintage motorcycles, a few staples come to mind—old Triumph Bonnevilles from 1965, a Honda Super Cub, a Harley-Davidson XR750, etc. But there are different criteria aside from age that can determine whether or not your motorcycle is a classic amongst insurance providers.

Age

Generally, motorcycles are considered classics if they are 15 years old or older. Some insurance providers only consider bikes 20 or 30 years old to be classics. On the other hand, there are also modern classic bikes, which are younger than the normal age a bike is considered classic. close up of a classic motorcycle

Design

In some spaces, design can be the leading factor as to whether or not a motorcycle is considered a classic or modern classic.

Condition

Integrity and condition of a motorcycle must be kept for it to be considered a classic. If the bike has been restored, it has to have retained a majority of its structural integrity.

Use

Many insurers may not insure a motorcycle as a “classic” if it is used as every day transportation or for work purposes.

All in all, just because your bike is on the older side doesn’t necessarily mean that it is a classic. You should research your motorcycle’s make, model and history to figure out the value and whether or not it can be considered a classic by an insurer.

What Does Classic Motorcycle Insurance Cover?

Classic motorcycle insurance policies often come with higher limits, as these bikes are often harder to repair or replace than normal bikes. You want as much coverage as possible for your classic bike in case something happens. A full coverage classic motorcycle insurance policy should include:

Comprehensive Coverage: Comprehensive coverage provides compensation for damages to the classic bike due to fire, wind, hail, explosions, falling objects, theft, vandalism and other incidents not involving collision.

Collision Coverage: Collision coverage provides compensation for damages to the bike caused by collision with another vehicle or object.
Liability: Liability insurance covers bodily injury and property damage the insured may cause while operating the classic bike.
Medical Payments: Medical payments coverage provides compensation for medical bills for the driver and their passengers after an accident, no matter who causes the accident.
Guest Passenger Liability: Guest passenger liability compensates for your passenger’s injuries if you cause an accident while operating the insured bike.
Uninsured/Underinsured Motorist: This coverage provides compensation for accidents involving a driver not carrying insurance.

Customized Parts: There is additional coverage you can purchase to cover expensive additional parts to your bike.

How Much is Motorcycle Insurance for a Classic Bike?

As with any other motorcycle insurance policy, the cost of your classic bike’s insurance varies depending on a variety of factors. This includes your:

Age
Location

Coverage limits
Value of the bike
Deductibles
Driving record
Credit score

Qualifying discounts

The higher your bike’s value, the more you will likely pay for motorcycle insurance, as it will cost more to repair or replace your bike in case of an accident. Even if you keep your classic bike mostly in your garage, your driving record can still affect the premiums you pay for the bike. A good driving record can help you save money while a poor driving record can hike up your motorcycle insurance prices by a substantial amount.

On average, you may pay around $702 a year for motorcycle insurance, although these rates may trend higher for classic motorcycles.

Do All Insurers Cover Classic Motorcycles?

Even if an insurance provider covers motorcycles, they may not necessarily cover classics or antiques. These are different policies that often have different limits, so it is important to ask your insurance agent about what type of coverage they can offer your bike. Keep in mind that for older motorcycles that are not considered classics, you may have trouble insuring the vehicle for more than minimum liability requirements depending on the value of the bike.

It is usually recommended that you try to bundle your motorcycle insurance with the same provider as your car insurance policy. Not only is this a convenient way to keep all information in the same place, but you can also get discounts for bundling multiple policies with a single insurer.

There is no harm in shopping around and comparing quotes, however, especially if you’re not sure that your bike will be covered under your current insurer.

Take the time to research your motorcycle, ask around, compare quotes and ask about discounts. Motorcycles, both classic and not, are valuable and fun vehicles that are often treasured by owners. Make sure you have the right coverage for you, your budget and your bike.

Is My Old Motorcycle a Classic Bike?

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