THURSDAY, MAY 26, 2016
Insuring a classic motorcycle is a high priority. Not only are these bikes impressive, but they are high value. An accident or other damage to them could lead to a significant loss of value, especially when you consider how difficult it can be to replace the bike or the individual parts for it. That is why you need high-quality motorcycle insurance. Classic motorcycle insurance provides a good deal of protection for the risks you face, but it can also extend further than a basic policy, giving you more protection for the high-valued bike you own.
What to Consider with Classic Motorcycle Insurance
What types of coverage do you need? Take a look at some of these key components most owners will benefit from owning.
Guaranteed Value Coverage: Some insurers offer a guaranteed value for the bike. You and the insurer decide on the value of the bike upfront so there is no question about it later. You are insured for that value. You can change the value, as required, at each policy renewal.
Spare Parts and Tools Coverage: Whether you built the bike yourself, restoring every part, or if you know the parts are hard to come by for the bike, this coverage can help. It offers protection for your extra parts for your bike, ensuring they are just as well protected.
Standard Coverage: You’ll want to have standard motorcycle insurance in place. This will include coverage for the bike’s value against fire, theft and vandalism. You also need motorcycle liability insurance, collision coverage and underinsurance protection.
High Valued Bikes Need More Attention
If you own a bike, such as a Cushman, Pierce Four, Flying Merkel or even a Café Racers, you need coverage that is at the highest level. That 1964 Harley Davidson in your garage is a collector’s item. Ensure that you work with your insurance provider to customize a plan to meet your individual needs in these situations. How much you ride your bike, the current condition and the overall rarity of the bike play a role in protecting its value. To do that, you need a quality, customized policy. If you own a 1973 Norton Commando or perhaps even more rare the 1947 Indian Chief, you can’t go with just any insurance.
We’ll help you find the right coverage. Call Harrell Insurance Agency at (843) 572-1500 for more information on Charleston motorcycle insurance.
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It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional
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