Insurance hard to get for older bikes?

Xhumeka

Xhumeka

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My buddy wants to buy a 1980 Honda CT110 (aka postie bike) this weekend but he can't get ahold of any insurance agents for a quote... someone told him it's harder to insure older motorcycles so it has him scared...

Does anyone know if he'll have trouble (or have to pay a fortune) to insure a 1980 Honda CT110? By trouble, I mean a much harder time than insuring a newer bike.

Any help greatly appreciated, he's hoping to go have a look early this afternoon.
 
Xhumeka said:
My buddy wants to buy a 1980 Honda CT110 (aka postie bike) this weekend but he can't get ahold of any insurance agents for a quote... someone told him it's harder to insure older motorcycles so it has him scared...

Does anyone know if he'll have trouble (or have to pay a fortune) to insure a 1980 Honda CT110? By trouble, I mean a much harder time than insuring a newer bike.

Any help greatly appreciated, he's hoping to go have a look early this afternoon.
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Will be hard getting a insurance quote over the phone since it's Easter Sunday.

Try to see if you can find a quote online through kanetix or similar website

Sent from my Nexus 5 using Tapatalk
 
Older bikes can be a nuisance... My project bike is a '72 Honda CB350 and most insurance companies wouldn't touch it simply because it's over 30 years old. Ended up getting it insured through Desjardin at an OK rate (costs half what my daily ride costs, but also has only basic coverage - meh) - a lot of this is still going to depend on his riding experience etc, the age of the bike just throws another wrinkle into the process.
 
You probably can't use any online tools to get a quote, as the old VIN's don't have enough numbers etc.
 
smc said:
You can get insurance, but only bare bones liability.
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mugwug said:
Older bikes can be a nuisance... My project bike is a '72 Honda CB350 and most insurance companies wouldn't touch it simply because it's over 30 years old. Ended up getting it insured through Desjardin at an OK rate (costs half what my daily ride costs, but also has only basic coverage - meh) - a lot of this is still going to depend on his riding experience etc, the age of the bike just throws another wrinkle into the process.
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Can confirm both of the above. Can only insure for liability for over 30 y/o bike in my experience. Also, most companies won't do it.
 
If he wants more than liability (ie it's a REALLY nice postie bike) I believe https://www.hagerty.ca/ will insure old bikes.

Jeff
 
I have a 1984 Honda CM250 commuter and hack-around bike. $300 for the year State Farm. Should be no problem with a 1980 if it passes an inspection.
 
i called hagerty when i tried to insure my 78 CB550. they dont write motorcycle policies in canada apparently. even though i know that there are bike policies here by them.

all the major places wont touch it because its more than 30 yrs old as a matter of 'policy'. StateFarm will insure my CB550, but only for liability. Rates arent bad, but not really worth it unless its your only bike (which means 600-900$/yr for me).

good luck, its a giant pain in the *** to insure something more than 30 years old. and make sure its a POS, because youll never get anything other than liability. Even dalton timmis wont insure my CB550 - 'they cant find it in their system"...
 
I kinda have the same problem, just picked up a 74 CB550 as a 2nd bike, and Dalton Timmis quoted me $600ish a year for liability only....
 
yeah, thats about right as far as I can tell. i've got my own gripes over how insurance works for 2nd/3rd/nth bikes but yeah, for an old CB550, I don't know where to go to get liability less than 600/yr. i also was not able to get collision/comprehensive on it.
 
Call Riders Plus. My '85 FJ is insured with Echelon through them. They even quoted me on a '74 Kawi F11 two-stroke when I asked. Pretty damn sure they'll be willing to cover your Honda.
 
Insurance on older bikes is a bit more difficult than newer bikes, but this should not stop you from buying the older Honda. They have their charm. It will take more time to fix up an older bike, and more time to find insurance. No biggie.
 
thirstforspeed said:
yeah, thats about right as far as I can tell. i've got my own gripes over how insurance works for 2nd/3rd/nth bikes but yeah, for an old CB550, I don't know where to go to get liability less than 600/yr. i also was not able to get collision/comprehensive on it.
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if you want full coverage on your vintage bikes, you'll need an appraisal- maybe some other stuff. i don't recall. i bailed and just took liability only. ask your broker what is required. It can be done. Older bikes are definetly harder to get coverage for either way, as less companies are willing to insure them and provide coverage. Depending on the age of the bike, as well as your age and type of M class license you have, you can insure/plate the bike as a vintage bike, which im pretty sure would stipulate that the bike can only be ridden "occassionally" to shows and to the shop i believe- i may be wrong. Again, a language to discuss with your broker. Mbroyda, congrats on your ol honda.
 
Thanks again for all the tips/info in this thread. As an update my buddy never did end up buying one, but he passed the "postie bug" onto me and I ended up grabbing a 1982 model. As most indicated in this thread liability was the only "easy" option for insurance, as anything else would require an appraisal etc. Liability only insurance ended up running me $266 for the year (so pretty much exactly what theraymondguy quoted) through TD Insurance Meloche Monnex. Cheers!
 
I got a policy from Dalton Timmis through Ron Calderon for my 73 CB350. Liability only $430/yr.
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