What is classic motorcycle insurance?
Classic motorcycle insurance covers motorcycles over a certain age, however the specific guidelines of what makes a motorbike a ‘classic’ varies between insurers.
What makes a classic motorbike?
Some insurers define a classic motorbike as any over 15 years old, while others extend the criteria to 20, 30, or even 40 years. You might also be able to find policies for modern classic bikes, which are slightly younger, and future classic bikes, which covers bikes that are being maintained with a view to earning ‘classic’ status.
Do I need classic motorcycle insurance?
If you intend on driving a vehicle, whether it’s a motorcycle, car or van, it’s a legal requirement to have at least third-party cover. However a more comprehensive policy will give you a better level of cover.
Is classic motorbike insurance different to standard motorbike cover?
Insurers generally offer lower premiums for classic motorbike owners, for the following reasons:
- Classic bikes are often well looked-after
- They’re also usually used less as owners don’t like to commute on their prized classic bikes
- As a result it’s less likely that you’ll have to claim for your bike
What does classic motorbike insurance cover?
The level of coverage you’ll get from your classic motorbike insurance will firstly depend on the type of policy you take out. As with all auto insurance you’ll be able to choose from:
- Third-party: This is the minimum legal requirement for drivers of all vehicles, and it’ll cover you for any damage you do to a third party, their property or their vehicle
- Third-party, fire and theft: Third-party, fire and theft policies include everything in third-party insurance, but you’ll also be covered for claims if your classic bike is stolen or damaged by fire
- Fully comprehensive: The highest level of cover available, fully comprehensive cover includes all of the above, as well as any other damage done to you or your classic motorcycle
What extras can you get with classic motorcycle insurance?
Depending on the provider you choose, you’ll usually be able to add the following extras to your classic motorcycle insurance policy:
- Accessories cover: This will cover you if your accessories, such as helmets or leathers, are damaged, lost, or stolen
- Breakdown cover: With breakdown cover you’ll get roadside assistance if your classic bike breaks down
- European cover: You’ll be insured to take your classic bike across the pond
- Multi-bike cover: You’ll be able to add more than one bike to your policy, which can often be cheaper than taking out separate cover for each
- Additional driver cover: This insurers you for letting others ride your classic motorcycle
- Pillion cover: Pillion cover lets you ride your motorcycle with passengers
- Modifications cover: If you’ve modified your motorcycle in some way you might need an extra policy to cover you
- Lock and key cover: This helps you with any costs relating to losing your keys
- Wrong fuel cover: You’ll be covered for repair costs if you accidentally use the wrong fuel
- Event cover: This is a special level of coverage for when you take your classic motorcycle to events and trade shows
How much does it cost to insurance a classic motorcycle?
Insurers generally offer lower premiums for classic motorcycle owners as they’re more likely to care for and maintain their vehicles, and less likely to use them for everyday driving. However, the cost is also affected by:
- Your age: As a rule of thumb, insurers give higher premiums to younger or less experienced riders. Some may even have a minimum age limit on their policy, usually 25 years
- Your location: You’re usually more likely to claim for theft or vandalism if you’re in an area with higher crime rates, so insurers will often raise your premiums as a result
- Your motorcycle: Bigger and more powerful classic motorcycles are at a higher risk of being involved in an accident
- Your driving and claims history: Riders with a history of driving convictions or auto insurance claims can also expect to see higher premiums
- Your storage and security: Keeping your classic motorcycle in a locked garage and installing security measures such as an immobiliser reduces the likelihood you’ll need to claim for theft or vandalism
- Your payments: Paying annually for classic motorcycle insurance might mean a hefty lump sum, but the overall cost is usually lower than it would be if you paid monthly
- Your excess fee: Volunteering to pay a higher excess fee tells insurers you’ll only claim when necessary, so they’ll usually cut your premiums down in exchange
Compare classic motorbike insurance quotes
Comparing classic motorbike insurance quotes with MoneySuperMarket is the easiest way to find a cheaper deal for cover. Just tell us a little about yourself, your driving history and the bike you want to insure, and we’ll show you a list of quotes tailored to your requirements.
You’ll be able to sort them by the overall monthly and annual cost, the level of cover you’ll get and any extras you can add to the policy. Once you’ve found the right deal, just click through to the provider to finalise your purchase.
Remember as with all insurance products, the cheapest option isn’t always the best. We recommend you aim for a balance between the cost of the policy and the coverage you’ll get – this way you can avoid ending up over- or under-insured.