How the hell do I insure my very expensive vintage restoration...under 30?

[drumstyx]

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That's all true but doesn't change my argument. Insurance will provide you the appraised value if your garage burns down. In reality, your bike is worth approximately half of that (the one hanging out at 9,000 isn't moving). In almost every scenario, you have already lost $6,000 (the only exception would be an insured writeoff) so my argument is you really have an asset worth ~6,000. That changes the insurance value proposition. If you could obtain coverage for $1000 a year and didn't have an incident, you would be neutral in 6 years, years past that you would be losing quickly vs self-insured (eg. 1000 a year into an account). Obviously having it insured and rideable has benefits for fun, but not so much on the financial side.

PS. The bike looks awesome, I'm not trying to discount the work you did.

Fair point indeed! I've actually managed to get a quote around 1100 for full coverage...only a few hundred more than just liability (which, to be honest I'd get anyway because I want to at least ride it to the previous owner's to show off). I wouldn't have paid the 2100, but I can do 1100, at least for the remainder of the policy year (so I'll only pay half that for the rest of the season )

 

[drumstyx]

Thought I'd follow up with my end result -- My current broker got me a decent deal with Wawanesa; just under $1000 for the year with full coverage. Biggest bummer is the lack of a 19A (agreed value) endorsement that you get with a classic policy. It's actually remarkable to note, there is not one insurance company that will currently write me a policy with a 19A endorsement. Probably facility would, but then I'd get no multi policy discounts that make collecting bikes possible for me.

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