Want a vintage Harley or that 1941 Indian Chief? You’re probably going to drop well over $50,000, and it will be worth every single penny. Nothing beats owning a classic motorcycle, and collecting sidecars from the past ices the cake. Even if you and your riding partner don’t take the cycle out on the road, you should still maintain classic collectors insurance coverage to protect your purchase fully.
The type of coverage you need depends on numerous factors, but you will want to insure your vintage two-wheeler and its sidecar with the maximum amount of coverage you can purchase. Policies vary, but some riders included in vintage motorcycle insurance include:
- Bodily injury
- Property damage
- Uninsured motorist protection
- Pedestrian personal injury protection
- Natural disaster
Agreed Upon vs. Stated Value
Another important factor in classic collectors insurance is whether it is best to purchase an “agreed upon” or “stated” value policy. If well kept, your collectible motorcycle should increase in value over time, and an agreed-upon value policy makes more sense. A stated or cash value policy will take into account the depreciation, or aging, of the two-wheeler, so make sure you determine which policy is better for your needs based upon your cycle’s anticipated aging value.