A Wise Approach to Classic Bike Insurance
If anything requires the right kind of insurance, it’s a classic bike. As ‘luxury items’ go, few can be as irreplaceable as a beautiful riding machine that represents the very best in craftsmanship and design. Evocative of a lost era, classic bikes are irreplaceable. Classic bike insurance can make the difference between getting them back to their original condition if an accident occurs, and your pride and joy being forever consigned to the annuls of history.
Some Considerations
When looking for classic bike insurance there are some crucial considerations. One of the main ones is whether you’ll opt to customise your machine. Customising a classic bike affects its replacement value significantly. While opting for modern brakes can positively influence policies for bikes that are used regularly, making older models more economical on fuel can adversely affect the market value. Cover that includes an agreed value for a bike won’t necessarily take into consideration and customisation that’s taken place, and a market value can easily fail to reflect the time and attention paid to a well maintained example.
Exclusions To Look Out For
Those seeking classic bike insurance would do well to consider carefully any exemptions on the policy they choose to take out. Many policies exclude overseas use, for example, and even more preclude any off road activity. Specialist events that involve taking a bike onto a track of and kind can constitute off-road activity, so owners need to beware. Policies can be tailored to suit individual needs in this regard, so it’s worth shopping around to get the best one.
Why Classic Bike Insurance?
The term classic bike insurance may be misleading nowadays, as insurers increasingly offer a wide variety of policies. The definition of a classic bike is not so narrow as to include all models produced before a particular year, for example. Just as some riders have different views about what makes a bike ’classic’, so insurers have their own criteria for which bikes may appear on which policies. Annual mileage can be important, as can postcode and, of course, claim history and prior convictions for motoring offences. Those who use their classic bikes for everyday travelling and commuting might be interested to learn that standard insurance policies can prove cost-effective.
Cutting Costs
There are ways of reducing premiums for classic bike insurance. One of the easiest ways is to pass one of many available safety courses. This is a good idea on different levels, not least of which is the discount available on policies. Another good way to save money on insurance for a classic bike is to join a recognised club, whose members can expect a discount because they’re known to care for their machines.