Motorcycle Insurance Articles
Motorcycle Insurance Costs For Vintage Models
2010-08-16
Due to the quality of motorcycles manufactured over the last several decades, there is an increasing number of vintage models on the road today. With this increase, there is a need for motorcycle insurance to cover various antique and vintage models. The cost of motorcycle insurance for vintage models is determined differently in each state and by each insurance company. However, there are several factors that are almost universally considered in determining the cost of the policy.
The factors considered by most insurance companies in setting motorcycle rates for vintage models include the age of the bike, storage conditions, usage, driving history, organizational memberships, and desired coverage amount.
For a motorcycle to be considered an antique or vintage model, most insurers require that it be at least fifteen or twenty years old. Before providing a motorcycle insurance policy, most insurance companies will request information about the bike's storage conditions. To qualify for an insurance policy on a vintage model motorcycle, most insurance companies will require that the bike be stored in an enclosed and locked area.
It is also important for most insurers that an insured vintage motorcycle be used only for recreational purposes. Motorcycle insurance policies for antique motorcycles typically prohibit their use as commuter vehicles. Thus, many insurance companies will request proof of at least one car or truck for every driver in the household. This assures the insurer that the vintage motorcycle is not the primary mode of transportation for any driving member of the home.
Like insurance for cars, trucks, and non-vintage motorcycles, driving history is one of the most important factors that insurers look at when determining the cost of motorcycle insurance on vintage models. To obtain the lowest rates on vintage motorcycle insurance, the driver should have a driving record free of accidents for the last three years and be free of any DUI incidents. Cost is also determined by the type of coverage purchased. A driver can insure a vintage model motorcycle for damages caused by situations other than collision. Liability and collision insurance can also be purchased to cover costs incurred if the vintage motorcycle is involved in a moving collision. Other forms of insurance coverage include personal injury, uninsured motorist, and depreciation/inflation in case of a loss.
There are certain insurance companies that offer special discounted rates on motorcycle insurance for vintage models. Discounts are often given to members of specific approved organizations. When looking to obtain motorcycle insurance for a vintage or antique motorcycle it is important to look into the factors specific to your state and the insurance companies you are getting quotes from.