What Does Classic Motorcycle Insurance Cover?


Quick Answer

Because classic motorcycles tend to appreciate in value, classic and antique motorcycle insurance provides coverage based upon an agreed value, explains the Department of Motor Vehicles and American Collectors Insurance. A customer must know the cash value of his bike and submit this number to his insurance company. If the insurance company agrees to the value of the motorcycle, this number becomes the insurable value of the classic motorcycle, explains the DMV.

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What Does Classic Motorcycle Insurance Cover?
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Full Answer

Events, such as an accident, storm damage, theft or vandalism, that insurance companies cover under classic motorcycle insurance varies based on how much coverage the customer chooses to purchase, explains American Collectors Insurance. Those with classic motorcycle insurance may also need to purchase liability insurance to cover bodily injury or property damage that they cause. Other supplemental insurance often required includes uninsured/underinsured motorist coverage and pedestrian personal injury protection, offered in only some states, as of 2015.

Items to ask an insurance company about before purchasing classic motorcycle insurance include the recommended amount of liability insurance needed to supplement the primary policy and if insurance premiums increase after an accident, explains the DMV. Other options sometimes offered with classic motorcycle insurance include custom parts and equipment insurance, and customers and insurance agents should determine if the customer needs this supplemental protection.

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