The decision to insure an old motorcycle comes down to one basic question – what’s it worth? A motorcycle can remain perfectly operational for 10 years or more, but many consider a motorcycle old and ready to trade in after 3 years.
If you have a motorcycle that’s considered classic, collectible, antique or vintage, the answer is a resounding yes on insurance coverage. Vehicles in any of those classifications typically hold high-value and need to be protected against damage and theft.
Generally speaking, a motorcycle that’s at least 25 years old is considered a classic vehicle. It acquires the designation of collectible at 100 years of age. A vintage motorcycle is typically one that’s been heavily customized, is 20 to 99 years old, and has cultural significance. A motorcycle that’s 35 years old or more is classified as antique.
Those are just general guidelines. All insurers don’t use the same classification method. What’s an antique to one insurer may be considered vintage by another. The cost of your motorcycle insurance will ultimately depend on the vehicle’s value.
No Insurance Requirement
Florida has no law requiring that you purchase motorcycle insurance. However, if you’re riding the motorcycle and involved in an accident, you can be held liable for injuries to others, along with damages to other vehicles and property. If you don’t have liability insurance, the state can issue a substantial fine, you can lose your riding privileges, and even have your license suspended.
Whether you have a classic, collectible, antique or vintage motorcycle, it’s going to represent a significant investment and will be worth a considerable amount of money. Motorcycle insurance protects that investment in the event of an accident, theft or other unforeseen event. Examine the policy carefully to ensure it covers any contingency that would damage your cycle.
For more information about how The Sena Group can help you with any
of your insurance needs, please contact us at 561-391-4661.
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