Apraisals & Insurance question

I know that many of us have a lot more money in our bikes, than their Blue Book Value. I'd like to hear from people who have had their bikes apraised, what you need to do, how much more is the Insurance, ETC. ETC. also whats the deal with Antique Vehicle plates & Insurance ??....It's getting pretty scary on the streets around the Chicago area with all the illegal immigrants, that cant speak our language, cant read the signs, dont have licences, or insurance, I'd hate to have something happen to one of my bikes, and for my insurance co. claim that it's totaled, because the Blue Book value is only a couple thousand dollars, for a 30-36 year old bike...Pete

I have regular insurance on my kz however I used to own a 1966 Chevelle SS 396 that sat on the show room floor at the dealer I worked for I bought classic/collector car insurance was allot less expensive than real insurance but it has its limitations on mileage basically its covered for full appraisal
plus any and all spare parts at current mkt values back then it was limited to 5000 miles a year

and if you were in traffic and had a wreck tit basically covered what your regular insurance doesnt cover. (if you have regular insurance on your daily driver. as a daily driveer is not a collector car but is still your primary insurance even though your hotrod isnt listed

a bunch of legal ease either way not sure if it works the same on classic bike insurance

its a fact classic car bike owners are more particular with their investment than corvette owners lol

This very thing is what I have been dealing with for 5 months.

The most State Farm will insure me for is $4000 Over and above that, your out of luck. They have a book for the under-writers that they go by and that number is it. My agent fought for me with the underwriter and lost. I have every receipt spent on bike so I can prove what was spent.

My agent said if I could get a vintage apraisal that is accredited and recognized by State Farm...they would consider raising the amount. I asked where do I get it and he said ????

He said Dealerships dont count, If you have an apraisal on a Kawasaki letter head from a dealer....they wont accept it. I have looked on internet, asked dealers, called ins companys and stopped places that sell classic cars trying to find a vintage apraisal here locally and no less the United States and struck out.

OK, so you say, go to one of these classic car/bike insurance places I see on tv they will do it no problem like Hagerty, Grundy and others...they do it.

Well I called them all. One place requires you to own two bikes...they wont ins you if you have one bike...no shit...they dont want you riding the bike you are trying to ins..it must sit in garage looking nice with limited miles ridin.... dont ride it...LOL

The other place requires you to have all you autos and bike ins though them...they wont ins just the bike...BS.

One other I called asked me to email some pics of bike, then said my bike was to modified and they wouldnt ins it. I called six classic ins places and its a joke.

I cant beleive that no one wants to take my money?

Im looking at Pete's bike....its worth more than $4000.00 If it was to get stolen or totaled....he could get screwed...I have a guess what he has in it....what were you able to get it ins for Pete?

try a rider on your homowners and here's a link possibly vintageautoappraisers.com/

ramtough_63 wrote: try a rider on your homowners and here's a link possibly vintageautoappraisers.com/

I called my ins guy and he said that you are unable to put a fully built working and ridable bike on a homeowners policy rider...if you have parts of a bike in a garage that have value....you/ they can be attached to a homeowners policy but when parts become a ridable bike....no.

Thats just silly other than loyds of London there has to be an insurance program available with a credible appraisal there is no book value for a OCC or Bad Dog or westcoast chopper they get insured

I'm not a fan of insurance and attys seems they make their own rules

I have no experience in this area, but I saw this online:

www.progressive.com/motorcycle/vintage-m...cycle-insurance.aspx

Pete,
Good luck on the insurance part of your question.
In regards to the Antique plates I can only tell you what I learned from my local DMV official. They had a both at a bike show here in Michigan last winter so I had a good chance to chat with out being rushed. As someone was selling old bike plates at the show I asked about putting a 78 plate on my 78 Kaw.
In Michigan I can put a 78 plate on my bike and register it as a historical vehicle. The limitations are the plate is only valid to and from a organised event like a show or parade. So no crusing or touring when I feel like it. Shame ,, as I have the original plate nailed up on my wall and would love to use it again.
Hope this helps
Dave

ramtough_63 wrote: Thats just silly other than loyds of London there has to be an insurance program available with a credible appraisal there is no book value for a OCC or Bad Dog or westcoast chopper they get insured

I'm not a fan of insurance and attys seems they make their own rules

Thats a great point...how are they doing it??