| For many motorcycle owners, riding is
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| | * The motorcycle must be at least twenty
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| more than just a recreational activity,
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| | years old.
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| it's a lifestyle. Riding represents
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| | * The policy will have a limited mileage
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| freedom, friends and fun. It's what fuels
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| | restriction. This usually ranges from
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| daydreams and fills weekends. Vintage or
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| | 2000, to 3500 or 5000 miles per annum.
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| classic motorcycles are the pride and joy
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| | Obviously the lower the mileage
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| of their owners many of whom like to
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| | restriction on a motorbike policy, the
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| parade and demonstrate them at classic
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| | lower the usage on a public highway
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| bike festivals or other outdoor events.
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| | reducing the risk of a road traffic
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| With classic motorbikes the insurance
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| | accident.
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| implications are different to those with
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| | * The policyholder must have the sole use
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| standard bikes. Motorcycle Insurance
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| | of another vehicle for daily use again
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| companies will normally insist on certain
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| | this reduces the amount the bike is
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| criteria on which they base the cost of
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| | actually used on the road.
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| the annual bike insurance premium for
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| | * The motorcycle must be kept in a
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| your policy and will also dictate whether
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| | secure, locked garage at the home address
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| your bike falls into the classic bike
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| | when not in use. This will reduce the
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| category.
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| | theft risk of the bike which reduces the
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| With classic bikes it is generally
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| | cost of the bike insurance premium.
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| acknowledged that an 'agreed value'
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| | * The usage on the policy is restricted
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| insurance policy is the most effective
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| | to social, domestic and pleasure use only
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| way to insure. One of the main benefits
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| | excluding commuting again possibly
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| of an agreed value motorcycle insurance
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| | reducing the amount of time the motorbike
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| policy is that you have the value of your
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| | is on the road.
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| vehicle agreed at the start of the
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| | * Drivers on a classic bike policy must
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| policy, meaning if you have to make a
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| | generally be over the age of 30 and must
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| claim there can be no doubt about the
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| | have held a full motorcycle driving
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| motorcycles worth.
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| | licence for at least 2 or more years.
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| To obtain an agreed value policy,
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| | This again ensures a better risk based on
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| insurers will usually request a fully
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| | age and experience, thus making a bearing
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| completed vehicle condition form and 4
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| | on the premium.
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| coloured photographs of the vehicle.
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| | There are usually many benefits provided
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| Classic bike insurance packages are
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| | under a Classic motorcycle insurance
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| specifically created to give owners peace
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| | policy that would not be normally
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| of mind that their prized possession is
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| | included under a standard motorcycle
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| covered for every eventuality
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| | policy.
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| Generally, classic bike insurance
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| | This may be automatic cover for all club
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| premiums are much more competitive than
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| | organised rallies, cover for the insured
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| an average policy premium based on the
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| | motorcycles spare and dismantled parts
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| market value of a bike and even though
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| | whilst stored in a locked garage or other
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| older vehicles are more prone to
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| | secure premises and possibly free
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| breakdown and repairs and parts for
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| | breakdown recovery in addition to the
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| specialist and obsolete models can incur
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| | main benefit of an agreed value.
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| a major expense, other factors for the
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| | Policies usually have a minimal excess of
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| classic bike insurance criteria override
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| | 50.00 pounds for both accidental damage,
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| these and essentially reduce the risk
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| | fire and theft claims and generally
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| therefore reducing the price.
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| | exclude the riding other bikes clause.
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| So what are the factors which meet the
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| | This is so riders do not take advantage
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| classic bike criteria and how does this
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| | of the competitive lower classic bike
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| allow reductions in the motorcycle
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| | insurance premium to use a much higher
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| insurance premium.
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| | rated bike.
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