Reasons to Secure a Classic Motorcycle

The current regulations, the economic value or the memories that can bring are more than enough reasons to ensure a classic motorcycle . In order to satisfy the owners of this type of vehicle, Xenasegur offers a specific product.

asegurar motos clásicas

In our country has increased the fever for classic vehicles. In the case of the Spanish motorcycles of the decades of the 60s and 70s of the last century, they are living a second youth and have become very coveted pieces by collectors and the most nostalgic fans. So much so that, due to the growing demand, its price has doubled in the last two years.

This interest in classic vehicles, in general, and classic bikes, in particular, is reflected in the different events that take place in Spain throughout the year: salons, festivals, markets, rallies or regularity rallies that attract thousands of people of all ages. Without doubt, the “vintage”, retro or classic is back in fashion, as evidenced by the fact that many car and motorcycle manufacturers are inspired by the past when developing their new models.

When is a motorcycle considered classic?

As a specialist in insurance for all types of motorcycles, Xenasegur is no stranger to the interest that classic motorcycles arouse. For this reason, the affiliate subscription agency of the French group Filhet-Allard has a specific product for this type of vehicle. But before focusing on it, it is convenient to know what is meant by classic or historical motorbikes.

In Spain, “historical”, and not “classic”, is the official name that should be used to refer to “veteran” vehicles that comply with what is specified in the regulations. Specifically, to the provisions of both the original Regulation of Historical Vehicles of 1995 and the recent Royal Decree 920/2017 . According to article 1 of the first, historical vehicles are considered:

  • Those with a minimum age of 25 years, counted from the date of its manufacture. In the event that the latter is not known, the reference would be the vehicle’s first registration or, failing that, the date on which the corresponding model or variant was no longer manufactured.
  • Those included in the General Inventory of Movable Property of the Spanish Historical Heritage or declared of Cultural Interest , as well as those with a special interest for having belonged to a relevant personality or intervened in an event of historical significance.
  • And also the so-called collection vehicles, understood as such that by their characteristics, uniqueness, scarcity or special circumstance very outstanding deserve to benefit from the regime of historical vehicles.

Last year, through the aforementioned Royal Decree 920/2017, the first of the three points of Article 1 of the Historic Vehicle Regulations was modified. In such a way that currently historical vehicles are considered those that meet the following conditions:

  • Have been manufactured or registered for the first time at least 30 years ago.
  • Having stopped producing its specific type.
  • Being in original condition and not having been subjected to any fundamental change in its technical characteristics or main components (engine, brakes, steering, suspension or bodywork).

In view of the above, it is clear when it is officially considered that a vehicle is “historic”. As for the term “classic”, it is more ambiguous and less demanding in the insurance field, since it is not necessary for a vehicle to have a minimum age of 25 or 30 years, nor have it belonged to a relevant personality or be valued as a kind in danger of extinction, to be cataloged as such.

As we will see at the end of this article, if our motorcycle was registered 20 years ago, and we fulfill a series of requirements, it will be taken into account as classic when it comes to insuring it.

Even if it is not used, do we have to insure a classic motorcycle?

Suppose we own a classic or historic motorcycle. And that is stored in the garage throughout the year because we do not use it. In that case, is there any reason that obliges us to insure it? Why should we buy insurance if we do not drive it on public roads?

The first reason to ensure a classic or historical motorcycle is very strong: because this is indicated by the Law on Civil Liability and Insurance in the Circulation of Motor Vehicles . As long as the motorcycle is registered for all purposes, and we appear as owners of it, we are obliged to take out liability insurance. Even if we do not drive the motorcycle, it could catch fire in the garage or fall to the ground, to give some examples, and cause damage to third parties.

Likewise, owning a classic or historic motorcycle will force us to pay the circulation tax – if the vehicle is historic, in some municipalities they apply bonuses – and pass the corresponding Vehicle Technical Inspection (ITV) when it touches. If it is a classic motorcycle, it will be necessary to go to the ITV every two years. But if it is a historic motorcycle, the aforementioned Royal Decree 920/2017 states that it must undergo the inspection with the following frequency:

  • With an antiquity of up to 40 years: biennial.
  • With an age of between 40 and 45 years: three years.
  • With an age superior to 45 years: quadrennial.

So, if we own a classic or historic motorcycle, it is advisable to insure it, be up-to-date in the payment of the road tax -if it were the case- and have passed the ITV. And now, keep it in perfect condition to drive and enjoy it.

But if we do not want to hire insurance, we will have to temporarily cancel it in Traffic. Only then will we be exempt from contracting liability insurance. Otherwise, not to subscribe the corresponding policy entails an economic fine that ranges between 601 and 3,005 euros. And it could have very negative consequences for the owner of the classic or historical motorcycle in the event of an accident.

Are there other reasons to insure a classic motorcycle?

But, in addition to the fact that it is required by the Law on Civil Liability and Insurance in the Circulation of Motor Vehicles, there are other reasons that invite you to contract a policy for a classic or historic motorcycle:

  • One of them, as we have seen at the beginning of this post, is the economic one. If the valuation of our motorcycle rises like foam, it will begin to be coveted by collectors and, unfortunately, also by the friends of others. More reason to have insurance that also includes theft coverage.
  • And no less important: the motorcycle can have a sentimental value related to our loved ones or an unforgettable moment of our life. Another strong reason to insure it.