Vintage or Classic insurance??

shadowman

shadowman

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I've tried a search, but I can't seem to find the answers to the questions I have.
I've got two bikes that my wife and I ride on a regular basis (2010 250 ninja and a 2008 gsx650f).
I've also got a 1981 Yamaha xs 1100 Special that I haven't had insured since the spring. I've been trying to sell this bike, and am not having alot of luck. I don't want to give it away because I really like the retro feel of the bike. I'd like to keep it and just ride it occasionally. I'm wondering what my options are.

Would this bike qualify as a classic or vintage?

What type of premiums would I be looking at?

What companies offer these policies?

What type of restrictions apply to these policies?

Thanks for any info you can offer.
 
I'll fill in what I can. First of all I'll start by saying there was a thread about vintage insurance last week I think?

Would this bike qualify as a classic or vintage?
Over 15 years old so yes.

What type of premiums would I be looking at?
Not sure but a lot cheaper if you meet the requirements. Usually a couple hundred bucks a year or less.

What companies offer these policies?
Not sure off the top of my head but someone mentioned it in the other thread I mentioned.

What type of restrictions apply to these policies?
Generally you are not allowed to ride to work or to any big box stores or pretty much anywhere with a public parking lot. Exceptions are made for organized events/shows. I think there may be a limit on how many miles you can put on it as well. I've also been told that for cars (not sure about bikes) some companies won't let you put a high mileage vintage car on a vintage policy.

Thanks for any info you can offer.
No problem.
 
unL33T said:
I'll fill in what I can. First of all I'll start by saying there was a thread about vintage insurance last week I think?

Would this bike qualify as a classic or vintage?
Over 15 years old so yes.

What type of premiums would I be looking at?
Not sure but a lot cheaper if you meet the requirements. Usually a couple hundred bucks a year or less.

What companies offer these policies?
Not sure off the top of my head but someone mentioned it in the other thread I mentioned.

What type of restrictions apply to these policies?
Generally you are not allowed to ride to work or to any big box stores or pretty much anywhere with a public parking lot. Exceptions are made for organized events/shows. I think there may be a limit on how many miles you can put on it as well. I've also been told that for cars (not sure about bikes) some companies won't let you put a high mileage vintage car on a vintage policy.

Thanks for any info you can offer.
No problem.
Click to expand...

That's a very good summary. Generally, the usage is restricted to show / club use / exhibition purposes, and you usually can't use the classic vehicle for more than 2000-3000kms a year. If it's not truly an antique and being treated as such, then it probably doesn't qualify for an antique policy.

shadowman -- you could start by asking your broker/agent if they will insure a classic/antique motorcycle. Aviva has a classic motorcycle insurance product -- Dalton Timmis has some info on his page, and you could probably ask him about the specific usage restrictions:

http://www.homeforchrome.com/classic-motorcycle-insurance.html

Premiums are low due to the heavily restricted use. You would be looking at roughly $100 and then about $2 for every $100 of appraised value for Collision and Comprehensive (which are probably mandatory).
 
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VifferFun said:
That's a very good summary. Generally, the usage is restricted to show / club use / exhibition purposes, and you usually can't use the classic vehicle for more than 2000-3000kms a year. If it's not truly an antique and being treated as such, then it probably doesn't qualify for an antique policy.
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When I inquired, driving to a mechanic was also on the allowed list. I quickly changed to a normal policy as I bought the toy to drive, not store.
 
GreyGhost said:
When I inquired, driving to a mechanic was also on the allowed list. I quickly changed to a normal policy as I bought the toy to drive, not store.
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Makes sense that you can get it fixed.

I also have all my vehicles under normal policies for the same reason. In the spring/summer/fall the 944 is my daily driver unless something is too broken for it to be drivable and I need a bunch of time to fix it (I hate paying labour for things I can do myself, although I never have time to do it myself). It had a short season this year because the steering rack decided it didn't like having fluid in it anymore.
 
GreyGhost said:
When I inquired, driving to a mechanic was also on the allowed list. I quickly changed to a normal policy as I bought the toy to drive, not store.
Click to expand...

Basically, classic/antique policies are for show cars/bikes. People don't buy show cars to drive them to work, get groceries, and that sort of thing -- they buy them to show them off and enter competitions and that sort of thing. If you want to use it like a regular vehicle, you have to insure it like a regular vehicle.
 
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Thanks for the quick responses. I need to look at the restrictions. I have no interest in actually showing it, but I'd like to be able to take it out for a small pleasure cruise two or three times a month.

This is the bike in question. Not a true show bike, but a decent old bike, just the same.

012.jpg
 
shadowman said:
Thanks for the quick responses. I need to look at the restrictions. I have no interest in actually showing it, but I'd like to be able to take it out for a small pleasure cruise two or three times a month.

This is the bike in question. Not a true show bike, but a decent old bike, just the same.
Click to expand...

It doesn't hurt to ask. Just be honest with your intended usage and see what the broker recommends. I suggest you give Dalton Timmis a call.

Clean bike :)
 
If I had a show car, I'd still drive it to work. What the point of owning a nice vehicle if not to use it? I would think using it daily would be the most showing off you could do!
 
unL33T said:
If I had a show car, I'd still drive it to work. What the point of owning a nice vehicle if not to use it? I would think using it daily would be the most showing off you could do!
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Perhaps . . . but I was more trying to make the point that a show car would be something that the owner is trying to preserve, like a collector's item.
 
VifferFun said:
Perhaps . . . but I was more trying to make the point that a show car would be something that the owner is trying to preserve, like a collector's item.
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Yeah I get it. Just having some opinionated discussion. Guess it wasn't really useful towards the topic though.
 
Any update on this in regards to Dalton Timmis restrictions for classic insurance? I took my '79 KZ400 off the road last year because it would have been $1065 liability only through Jevco (my Ninja 650R is $900 for full coverage with TD Meloche Monnex), would love to get this thing back on the road in a limited capacity even.
 
I have a vintage bike but I insured it as a regular bike. No restrictions. You register it as a 'classic' or 'vintage' then its a show bike.
It might be a vintage or classic but you do not have to insure it that way.
 
Cat13 said:
I have a vintage bike but I insured it as a regular bike. No restrictions. You register it as a 'classic' or 'vintage' then its a show bike.
It might be a vintage or classic but you do not have to insure it that way.
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What company are you with? As stated above insuring it as a "regular" bike isn't an option, I'm not willing to pay more than my 650R.
 
I'm finding its vetting harder and harder to get insurance for an old bike that is a daily driver. I've been told its due to safety factors but I don't get that because the bike has to pass the same safety as a new bike. Also I know Dalton timms has stipulations like bike age ( of course) your number of years riding (min 10 hers I think she told me) and you have to be at least 30 years of age to qualify. All this was told to me on the phone so I'm not guessing at it here.

Sent from my Nexus One using Tapatalk
 
Gryph said:
What company are you with? As stated above insuring it as a "regular" bike isn't an option, I'm not willing to pay more than my 650R.
Click to expand...

Jevco

Venom01 said:
I'm finding its vetting harder and harder to get insurance for an old bike that is a daily driver. I've been told its due to safety factors but I don't get that because the bike has to pass the same safety as a new bike. Also I know Dalton timms has stipulations like bike age ( of course) your number of years riding (min 10 hers I think she told me) and you have to be at least 30 years of age to qualify. All this was told to me on the phone so I'm not guessing at it here.

Sent from my Nexus One using Tapatalk
Click to expand...

How did I get insurance then?
I am 26
The bike is 38 years old
I have been riding 4 years


I ride a 1974 cb360.
 
Cat13 said:
Jevco



How did I get insurance then?
I am 26
The bike is 38 years old
I have been riding 4 years


I ride a 1974 cb360.
Click to expand...

Insured as a classic though?
Getting vintage/classic insurance is different then getting regular insurance (daily riding) on an old "classic " bike.

Those stipulations I mentioned were for classic/vintage Insurance.
Sent from my Nexus One using Tapatalk
 
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Venom01 said:
Insured as a classic though?
Getting vintage/classic insurance is different then getting regular insurance (daily riding) on an old "classic " bike.

Those stipulations I mentioned were for classic/vintage Insurance.
Sent from my Nexus One using Tapatalk
Click to expand...

Just go to Jevco, it's really the only choice for insuring old bikes as regular everyday street bikes.
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