Fire & Theft on Declared Value?

P

PurplePeopleEater

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Hey all.

I have a 1979 CBX, and I've spent the last 3 years pouring money into it. I can't find an insurer who will cover it for fire or theft. Is there anyone in Ontario who will insure a bike for a declared value without a bunch of crazy restrictions on mileage?

I don't really care about market value or what an appraiser thinks - I want to just declare the replacement value of the bike and then will pay any premium that the insurance company specifies.

Is there anyone in Ontario who will do this? Do I have any hope of decent coverage for my vintage bike?
 
The CBX has become a bit of a collector's item thanks in part to Jay Leno - maybe look up those insurers that specialize in vintage collections?
 
I think what you're looking for will be a OPCF 19A rider on your insurance policy. You'll need to find a company that offers this, and also will require an appraisal.
This is the same insurance rider that Classic car guys use when they restore old vehicles and have a ton of money tied up into a car. You don't want a 19, you want a 19A.

I ran into problems trying to get this insurance for a 1989 Honda CRX Si that I restored to basically show room condition. The car has 180,000km. I've put on about 6000km of those since 2009. It doesn't get driven unless it's to a car show but yeah... It was a total pain in the *** because every insurance company had very specific requirements for a 19A. In the end, they don't consider the CRX to be a collectable or significant car to be worthy of a 19A. Anyhoo... Good luck finding it.
 
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I don't see you being able to just say that your bike is worth half a million and insuring it for that.

You'd need an appraisal, which can be less than what you've put into the bike. Some collections are like that.
 
Appraisal and safety is required for review and only after being reviewed by an underwriter you will know if it's insurable, if insurable a quote will be provided.
 
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