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Is Classic Motorcycle Insurance Cheaper?

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As the owner of a treasured classic motorcycle, you’ll always want to make sure you have the right level of protection in place to cover your unique ride, should the worst happen. 

As one of the UK’s leading motorbike insurance brokers with over 30 years’ experience in the industry, we understand just how much your coveted classic motorbike means to you. That’s why we offer classic motorbike insurance, designed to give you complete peace of mind.  Get a free quote today by calling the Carole Nash team on 0333 055 3355.

How much does classic motorbike insurance cost?

You’re probably wondering if classic motorcycle insurance is cheaper than getting a standard bike insurance policy. Here, we’ll break down why the price of your cover can vary.

Generally, insurers will offer a lower  premium to insure a classic motorcycle. Firstly, because it’s likely that you’ll take much greater care of your classic bike, keeping it well-maintained and in pristine condition. 

Also, owners of classic bikes tend to use them far less than they would a standard vehicle. For example, it’s less likely that you’ll be commuting every day on your prized classic bike.

There are other factors that can affect the cost of your classic motorbike insurance cover, including: 

  • Your age: Younger and less experienced riders are usually considered a higher risk to insurers.
  • Your address: You may be more likely to claim on your motorcycle insurance for things like theft or vandalism if you’re in an area with a high crime rate. This can lead to some insurers raising the cost of your premium.  
  • The type of motorbike you have: Of course, the actual type of classic motorcycle you own can affect things. The bigger and more powerful your machine is, the more you’ll be considered at a higher risk of being involved in an accident by some insurers. 
  • Your claims history: If you have a history of auto insurance claims, then this will affect your bike premium. Also, things like driving convictions may see the cost of your insurance policy rise. 
  • Where your classic bike is kept: If you keep your classic motorcycle in a secure and safe place, such as a garage, it can have a positive effect on your insurance premium. Using extra security measures, like an immobiliser, can also reduce the likelihood that you’ll need to claim for theft or vandalism.
  • How you pay for your policy: If you choose to pay for your bike policy annually, it can feel like a large lump sum. However, it can turn out to be cheaper than if you were to make payments on a monthly basis. 
  • Your excess: As well as having a compulsory excess for making a claim, you could have the option of adding on a voluntary excess. This can cut down your insurance premium, but you’ll have to pay a higher excess if you make a claim.  

Finding out exactly how much your classic motorcycle insurance will be couldn’t be simpler. Get a free, no-obligation quote by calling our friendly team on 0333 055 3355 today.

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