Since 2000, there has been a significant increase in the sales of classic motorcycles and if you are just starting to think about adding to the collection you have, or about buying your first machine, then look for the best values. If you are an experienced motorcycle collector then you will be prepared but, if not, seek advice, visit rallies and meet the tried and tested motorcycle riders. Other options are to become a member of a local club and subscribe to classic and vintage motorcycle magazines. By these means, you will become aware of the market and establish contact with other collectors.
When buying a classic motorcycle, be aware of its correct value and make some enquiries regarding coverage from classic motorcycle insurance. If you are inexperienced in the collector’s scenario, you could make a mistake and spend money on a machine that does not have its original parts. From the serial numbers, it can be determined whether the motorcycle is an original item or has been “doctored”.
It could prove advantageous to make previous contact a classic motorcycle insurance provider and determine how you would insure your investment. If you intend buying a bike that is a classic model and a rare one, then you would naturally be prepared for a higher premium. Other questions that could arise, concerning facts related to the bike, could be how frequently you would ride it and, whether it has been restored! This type of motorcycle has a greater value than a usual model. Any spare parts required, are more expensive and could be difficult to obtain.
A guideline is that a motorcycle between fifteen and twenty years of age is regarded by insurance providers as a classic. However, a machine of this age must still meet determined criteria to enable it to be rated by the insurers in a classified category. This rating offers the proper coverage and generally at a reduced premium. As with any other product, it is wise to seek comparative quotations. An insurer will review various general aspects of using the motorcycle, such as its age, parking and usage.
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