They may be in a similar category of vehicles, but the type of coverage they require is quite different.
Classic motorcycle insurance, like the coverage for vintage and antique bikes look very similar to standard policies but are different in important ways. These motorcycle insurance policies provide the same types of coverage overall. They protect against personal property and bodily injury liability. They also provide the option of coverage for other perils.
That said, classic and vintage motorcycle insurance provides a higher level of cover for more expensive rides.
Riders of antique or vintage motorcycles know that their bike has a higher value than a standard. Moreover, any custom alterations that have been made can also be added to a classic motorcycle insurance policy, where that may not be possible with standard coverage.
To know if your motorcycle is considered to be classic, vintage, antique or custom, it’s a good idea to speak with an insurance agent. Typically speaking, these rides are a minimum of 25 years old but look as though they were just driven off the showroom floor. They should be in the same or similar condition to when they were built or manufactured.
Classic motorcycle insurance is also much more necessary than it is for regular rides.
The majority of states across the U.S. do require a standard coverage on vehicles such as motorcycles when they are being ridden on public roads and highways. That coverage must include bodily injury liability and personal property liability. That said, the actual make, model, age or value of a motorcycle doesn’t have much to do with the type of harm or damage it can cause. Therefore, coverage for the motorcycle itself is notably greater through insurance for classic, custom, vintage and antique bikes.
Many motorcycle riders also like to add additional forms of protection to their policies such as uninsured/underinsured coverages or medical payments. That said, these issues also have to do with issues outside the vehicle itself.
The area where things start to become more complex and where riders often turn to classic motorcycle insurance is in collision and comprehensive coverages. These have to do with repairs or replacements for damage resulting from a crash as well as issues such as theft. Riders with these types of motorcycles are typically advised to speak with at least one insurance agent to make sure they are adequately covered for the value of their bikes.