Insurance for a display/indoor/de-commissioned motorcycle?

[eshum]

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Unfortunately, the one insurer/broker I could find was NFP and they require I move a homeowner's policy to them too (which is understandable). The home insurance quote came up high and the "display" moto policy itself was estimated as being around $800/yr (which is... a bit more than I'd want to pay). Net change in my premiums would be significantly over $1,000+/year which is my cut-off point for what I absolutely won't consider.

In case anyone is still curious, the moto I *would* have purchased to sit in my house forever was a MV Agusta F3 RC.



Imagine that, but on lifts or some sort of podium, on a mat, on hardwood. And probably sprinkled with dog hair.

Unless NFP comes up with something else, it's not happening. Oh well.

 

[GreyGhost]

Unfortunately, the one insurer/broker I could find was NFP and they require I move a homeowner's policy to them too (which is understandable). The home insurance quote came up high and the "display" moto policy itself was estimated as being around $800/yr (which is... a bit more than I'd want to pay). Net change in my premiums would be significantly over $1,000+/year which is my cut-off point for what I absolutely won't consider.

In case anyone is still curious, the moto I *would* have purchased to sit in my house forever was a MV Agusta F3 RC.

View attachment 63332

Imagine that, but on lifts or some sort of podium, on a mat, on hardwood. And probably sprinkled with dog hair.

Unless NFP comes up with something else, it's not happening. Oh well.

$1000 a year for a $30k bike that never leaves your house? Boo ontario. If I had 30k to spend on a bike, I would ride that one and look at it in between. Its too practical to be art imo.

 

[eshum]

artwork is much cheaper to insure per $. If you have enough juice with your broker, I'm sure they will find a way to have a de-commissioned moto (or car) insured as sculpture, scheduled to your res policy. Or if you're a business owner, have it insured in a bespoke manner as part of the commercial policy (presumably keep the vehicle titled under the business too).

Anyways, I lack the insurance juice. I don't pay enough in premiums to get a creative solution.

 

[Lightcycle]

Wow! Beautiful bike!

But I'd still ride it.

I honestly do not think it will appreciate in value that much and it'd be a shame to save it for the next guy who buys it off of you and will most definitely ride it instead of store it in his living room.

 

[Rossi86]

Unfortunately, the one insurer/broker I could find was NFP and they require I move a homeowner's policy to them too (which is understandable). The home insurance quote came up high and the "display" moto policy itself was estimated as being around $800/yr (which is... a bit more than I'd want to pay). Net change in my premiums would be significantly over $1,000+/year which is my cut-off point for what I absolutely won't consider.

In case anyone is still curious, the moto I *would* have purchased to sit in my house forever was a MV Agusta F3 RC.

View attachment 63332

Imagine that, but on lifts or some sort of podium, on a mat, on hardwood. And probably sprinkled with dog hair.

Unless NFP comes up with something else, it's not happening. Oh well.

I'm on the same boat, I want to insure a gen 1 F4 for fire and theft to put in the living room. They want full liability coverage which is more than my street GSXR1000. Same problem with the race bikes, no one will insure for fire and theft. So what do collectors do for insurance? Just take their chances with theft and fire and hope for the best?

 

[bitzz]

So what do collectors do for insurance?

Have an insurance broker that knows general insurance, not just auto liability.
LLoyds of London will insure anything.
Stop talking to auto insurance specialists, they ONLY know auto liability. You want to buy an "agreed value" policy. Last time I bought "show bike" insurance, it was $17 per $1000 of value... so OP's $30,000 bike would cost $510/yr. (I betcha it's gone up in price. Everything else has in the last 2 yrs)
I could insure the thing for the road for 50% more.
Have you tried Dalton Timmis? They USED to do stuff like this.

 

[GreyGhost]

Have you tried Dalton Timmis? They USED to do stuff like this.

NFP bought DT.

 

[Scuba Steve]

I'm on the same boat, I want to insure a gen 1 F4 for fire and theft to put in the living room. They want full liability coverage which is more than my street GSXR1000. Same problem with the race bikes, no one will insure for fire and theft. So what do collectors do for insurance? Just take their chances with theft and fire and hope for the best?

Honestly the value of most bikes isn't worth the insurance premium. just display it and enjoy the chances of it disappearing from inside the house is tiny. Unless you are taking a 6 figure or more bike.

Sent from the future

 

[GreyGhost]

Honestly the value of most bikes isn't worth the insurance premium. just display it and enjoy the chances of it disappearing from inside the house is tiny. Unless you are taking a 6 figure or more bike.

Sent from the future

I felt the same way about my wifes engagement ring. It disappeared and I took it on the chin. Based on the insurance rates I got when I bought the ring, I am still ahead buying a new one than paying the premiums on the old one.

 

[Rossi86]

Have an insurance broker that knows general insurance, not just auto liability.
LLoyds of London will insure anything.
Stop talking to auto insurance specialists, they ONLY know auto liability. You want to buy an "agreed value" policy. Last time I bought "show bike" insurance, it was $17 per $1000 of value... so OP's $30,000 bike would cost $510/yr. (I betcha it's gone up in price. Everything else has in the last 2 yrs)
I could insure the thing for the road for 50% more.
Have you tried Dalton Timmis? They USED to do stuff like this.

Thanks for the info will try them

 

[nobbie48]

Italian, new, limited number, hand-built, kinda built not to be ridden if we're being honest

Scheduled as sculpture would be the easiest route but my home insurer isn't amenable (nor my former insurers).

My late brother told me a story about a small town marina owner that took on so much new stock that he had to store some boats at his home, on his large front yard.

The town objected due to rulings.

The marina guy pointed out that as they weren't yet registered they weren't boats but rather fiberglass sculptures that were legal.

He also reminded them of how much money he had to pay for lawyers, how the town budget would look at election time if the fought him and how many wealthy friends he had that did business in town.

The boats stayed.

The OP could do the same but the question arises about legal warchests.

Lloyds of London is supposed to insure anything but not cheap. What's cheaper, insurance for years, even decades or a massive vault.

 

[GreyGhost]

What's cheaper, insurance for years, even decades or a massive vault.

Cheaper to assume the risk yourself. A vault will cost far far more than the bike.

 

[Relax]

If you're worried about theft (and assuming you don't have a walk-out basement), move or disassemble and reassemble it down there.
Does property insurance cover individual vehicle parts? Itemize the parts after disassembly if you need to make a fire (or for that matter theft) claim.

 

[timtune]

For the win! (and yeah I saw the saw the MV)

 

[GreyGhost]

For the win!

Hopefully we get to the point where there is an affordable chinese clone of that engine. A real RC166 is way too expensive for normal people to ride. Like Shelby Cobras, most people are far better served by a similar but fake version for an order of magnitude or two less money.

 

[bitzz]

Does property insurance cover individual vehicle parts?

Check your policy. My policy will cover up to $10,000 in "parts", and ONLY $10,000 for tools

 

[bitzz]

Here is the inside of that motor

 

[bitzz]

The town objected due to rulings.

There was this English fellow, that thought his neighbours were abusing town council with complaints about him. He applied to to town council for a permit to install a "tank" in his front yard. Rain water capture tanks are a fairly normal thing... his application was approved.

You can't park that there! Anger as military enthusiast keeps four-ton tank outside his house

Residents living in his normally tranquil neighbourhood in Wolvercote, near Oxford, have branded the four-ton camouflaged beast an 'eyesore'.

www.dailymail.co.uk

OOPS

 

[timtune]

Hopefully we get to the point where there is an affordable chinese clone of that engine. A real RC166 is way too expensive for normal people to ride. Like Shelby Cobras, most people are far better served by a similar but fake version for an order of magnitude or two less money.

I do not hope for that. It would be like a cheap print of the Mona Lisa on my wall.

 

[GreyGhost]

I do not hope for that. It would be like a cheap print of the Mona Lisa on my wall.

Fair enough. While I don't want a mona lisa print, I would be happy with one of these. At seven figures, I am never going to own an rc166 (or the obviously the mona lisa).

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