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Is There Collector’s Insurance For Vehicles Other Than Cars?
Article originally posted on www.insuranceneighbor.com(opens in new tab)
Classic car owners know the value of collector car insurance. But what if your vintage vehicle is other than a car? Collector’s insurance is also available for owners of antique motorcycles, boats, and RVs.
Collector’s Motorcycle Insurance
Classic motorcycles are a passion for many collectors. You may want to consider collector motorcycle insurance if you own vintage or antique bike such as a:
- Triumph Bonneville
- Harley Davidson FLH
- Yamaha RD350 BSA Lightning
- Harley Davidson Sportster
- Honda CB350 Ariel Square 4
- Norton Commando
- BMW R69 Cushman Pierce Four
- Vincent Black Shadow
- Café Racers Indian Chief
This coverage can help protect not only your classic motorcycle, but your tools and gear as well. If you own more than one classic bike, you can save money on premiums by purchasing coverage for all of them under one policy. To qualify for classic motorcycle insurance, you will need to meet specific requirements, which may include the following:
- Minimum age requirement for owner
- The bike kept in a garage
- The minimum value of the bike
- The motorcycle is over a certain age
Classic Boat Insurance
If you own a vintage boat, you may qualify for collector boat insurance. Coverage is available for many types of older vessels, including:
- Classic wooden boats
- Collectible fiberglass boats, such as runabouts from the 1950s and 60s
- Utilities with large, open interiors
- Cruisers with enclosed cabins, with coverage depending on an out-of-water and condition survey
- Sailboats, including yawl, sloop, catboat, gaff rig, and cutter
- Launches, with open configuration and seating for several passengers
If you are restoring a classic boat, restoration coverage is available to provide protection against theft, vandalism, or fire. Insurance for in-water operating can be added when your restoration is complete.
Vintage RV Insurance
Classic RVs increase in value in the same way as antique cars. If you own a fully-restored, vintage RV, its value on the open market today could be three times its original purchase price. Unfortunately, there are no official guidebooks available to determine the value of vintage RVs as there are for antique automobiles. If an RV is more than 20 years old, it won’t be listed in the Kelly Blue Book or the NADA guides. The quality of restoration can also vary considerably.
To get the coverage you need to protect your classic RV investment:
- Get a certified appraisal that reflects the true value of the vehicle. Our agent can refer you to a specialist qualified to determine the real market value of a restored antique RV.
- Find an insurance company that writes classic RV policies. Not all insurance companies do. Our agent can help you get the best quote available.
- Purchase an agreed-upon value RV insurance policy, based on your appraisal, as opposed to an actual cash value policy.
Work With An Experienced Agent
If you need collector’s insurance for a motorcycle, boat, or RV, our knowledgeable agent is happy to help. We can assist you in finding the best available rates on the coverage you need to help protect your investment in your antique vehicle.Filed Under: Personal Insurance | Tagged With: Boat Insurance, Motorcycle Insurance, RV Insurance