How to Find the Best Motorcycle Insurance for a Classic Motorcycle 2
You cannot drive more than 2,500 miles per year. 2,500 is a fairly standard number among insurance companies offering classic coverage, but there are some that have mileage plans that allow up to 5,000 or 6,000 miles per year. This increased mileage limit has been set to accommodate drivers who like to drive their Motorcycles to distant fairs. Obviously, the premiums are higher. Click here to get signed up
Must be kept in a closed garage. A closed and closed trailer will also work, but a garage will not reach the rating even if you live in a gated community with a security guard. (The weather is also the enemy of the classic Motorcycle). Some policies may stipulate that a Motorcycle cannot be left unattended in a parking lot. This means that leaving your Motorcycle in the parking lot of a motel or hotel may present a problem.
WHAT CONSIDERATIONS SHOULD BE TAKEN INTO ACCOUNT WHEN CHOOSING CLASSIC MOTORCYCLE INSURANCE?
Does the company offer agreed value coverage or stated value coverage?
The agreed value allows the classic Motorcycle owner and insurance agent to set a value for the Motorcycle that does not necessarily reflect the market value of that Motorcycle. Typically, the insurance agent will have to do a thorough inspection of the Motorcycle inside and out and will require photos of the vehicle.
What are the usage and mileage restrictions?
Find the policy that best suits your Motorcycle usage plans. Why pay a plan that covers mileage at 5,000 when you know you won’t even use the 2,000 miles available on a cheaper policy?
Can you choose your own workshop?
Mom and dad shop along the way and can do a good job on their regular Motorcycle and offer the smallest repair offer in town, but do you really want them to work on your classic “baby”?
Which company signs the policy and what is the classification of this company?
You want to ensure that the insurer has a good track record and can meet all its obligations, even if for some reason there is a higher flow of insurance claims than usual.
Is there a discount program available?
A good insurance company should always inform you about the discounts available, but it does not hurt to ask.
Does your insurance offer insurance for classic or modified Motorcycles that are under construction?
Some companies monitor the progress being made on your vehicle while you are in the garage for repairs and modifications and allow you to adjust the value of the Motorcycle as the project continues. In addition, this type of insurance covers damage to your Motorcycle in the event of a catastrophic event such as a fire, the hydraulic lift fails or the tool Motorcycle crashes into your Motorcycle (with a little imagination, the possibilities are endless).