Do you need insurance to ride a vintage motorcycle? The answer is a resounding yes. You need conventional insurance to do so. If you were to have an accident where your bike was damaged badly enough to be considered a total loss, insurance companies, such as Progressive, would normally pay the agreed value of a classic motorcycle. If you or a loved one has been involved in a motorcycle accident and need legal assistance, the motorcycle accident lawyers at Riderz Law are here to help.
They will make sure you have the coverage you need to meet your state's motorcycle insurance requirements. Your policy can be expanded to cover both the motorcycle and a sidecar, if you have one, or you can also get a multi-motorcycle policy if you have several classic motorcycles. Insuring an old or vintage motorcycle is similar to buying a policy for any other bicycle in terms of the types of coverage available. It doesn't matter if you take regular weekend rides on your classic motorcycle or only use it once a year, you'll need insurance to drive legally.
However, if the owner decides to keep their bike, the insurance company will pay the agreed amount, less the scrap value of the motorcycle. Insurance companies like Hagerty are willing to insure classic motorcycles for a few cents compared to what a conventional insurer would. This is because they know that you're not going to drive more than a few thousand miles a year and that you're probably going to treat him better than your children. They'll also pay more for a claim.
If you have an old car and can live up to Hagerty's requirements, it's worth considering insuring your car with them instead of a traditional insurance company. A limited-edition or collector's motorcycle of extremely high value may require third-party appraisal or documentation before a company can insure it. Like classic cars, classic motorcycles that are limited-edition, rare antiques, or of exceptional value for any reason, may require a specialized policy to insure them. Even owners of older motorcycles who don't take their bikes on the road should think about taking out comprehensive insurance.
VOOM is proud to offer affordable pay-per-mile motorcycle insurance for all shapes, sizes and speeds.
