Motorcycle Insurance Articles
3 Ways Motorcycle Insurance Companies Offer Low Coverage Rates For Vintage Bikes
2011-10-31
When you have a vintage bike, there are three ways that motorcycle insurance companies offer low rates. This keeps you bike legal and insured without shelling out a lot of money in monthly premiums. If you're a casual motorcycle rider, have a bike that has a record of being safe and don't choose particular coverage options, you can enjoy low rates for a very long time.
The first thing that motorcycle insurance companies look for when they are going to insure vintage bikes is whether the bike is the main form of transportation or not. The casual motorcycle rider who only takes their bike out a few times per month will pay significantly less than the everyday rider because there is less chance of being involved in an accident.
Many insurance companies will put a limit of miles that a vintage bike can be ridden, much like a car company does with classic cars. If you end up riding more than this allotted number of miles and are involved in an accident, however, the insurance company has the right to deny your claim, which could become very expensive.
Another way to keep your rates low with a vintage bike is to choose a bike that has a very good track record of being safe. Many Japanese bikes have been around for twenty or thirty years because they have a lower seat, offering a more controlled center of gravity and are therefore not involved in as many accidents each year.
The safety record of a bike is a great way to keep the insurance low. If you don't already have the bike but know you want one, take the time to call a few insurance companies to ask around about bikes. Have two or three models in mind and find out what the insurance quotes for each one would be. This way, when you buy the bike, you will already know how much it will cost to insure.
You can also choose to keep your insurance low by not accepting particular types of coverage. For example, many bikers choose to skip the collision damage because they would rather keep the ding in the bike to add character. Whenever you pass up the collision or any other types of coverage, it will instantly lower your insurance costs.
As with anything, you need to shop your insurance rates around in order to get the best possible deal. Insurance companies offer low rates for vintage bikes, but that doesn't mean that each company offers the same rate. One will be cheaper than the other, so you should check out a handful to get the lowest monthly premium on your bike.