To find insurance for a class classic bike there are specific criteria which are put in place by insurers to ensure that you have the correct type of policy which not only meets your insurance needs but which is also realistically affordable.
The criteria does vary between insurers and whilst many insurance companies do not offer cover for these types of machines, specialist insurers can be found and all will have their own special offers and discounts in much the same way as any other type of vehicle insurance.
The usual qualifying criteria include aspects such as:
* The annual mileage will be restricted to below 5000 miles.
* The classic bike is not your main form of transport.
* When not in used the bike must be kept securely in a locked metal or brick built garage which is at the same address as your home. Most insurers will not offer to provide cover for bikes kept in garden sheds, irrespective of whether they are kept locked or not.
* The policy covers a maximum number of riders who are aged between thirty and sixty-nine years of age.
* The bike is restricted to social, domestic and pleasure, which includes attending shows and events. Using the bike for commuting is usually optional, however it must comply with the bike not being the main mode of transport.
* Agreed value cover is typically offered. This means that you agree with the insurer the value of the bike and will need to provide the purchase receipt along with a specified number of photographs to make the bike more easily identifiable should it be stolen.
* Your occupation will also be considered by the insurers. Those who are unemployed may not be offered these specialised policies.
* Insurance companies have these policies specially designed for classic bikes, which means that just because you own an old bike you will automatically qualify or that your bike should be insured under a classic bike policy.
As with any type of vehicle insurance you are obliged to provide accurate information when applying for cover. Failure to do so or deliberately providing false information will usually be constituted as fraud which will automatically make your insurance invalid.
Insurers will need to be informed of all material facts which include:
* Any modifications which have been made to the bike.
* The driving record of all riders legible to be included on the policy.
* The occupation of all riders named on the policy.
* If insurance for any of the riders have ever been declined.
* All riders to be included on the policy must hold a current and valid UK driving license.
* All riders must be permanent UK residents, having lived in the UK for at least three years.
* Riders who have any disabilities or medical conditions must be declared.
* Drivers who have had any driving convictions within the last ten years which incurred a ban of three years or more.
* Insurers will also wan to know how many claims have been made within the last three years whether they were classified as fault/non fault or non recoverable.
As you can see having classic bike insurance can be quite complex, this why you should always look for insurance companies which specialise in this type of insurance cover.
If you’re looking for a quote on classic bike insurance visit Swinton.