A lot of people know that the insurance companies earn a lot of money by betting on the odds for how likely you are to get into an accident or any trouble. No matter what, in almost all cases the insurance company will earn money on you. They always set the premiums higher on the level than originally has been paid out.
As long as you pay your premiums the insurance company can give you classic motorcycle insurance that pretty much guarantees the safety of your bike. It is true that in the long run you will pay more to the insurance company than what they will pay you if you happen to get into an accident, but just think of how much you would have to pay if you got into an accident, you'd have to pay for your bike, you have to pay for your medical bills and if it was your fault you might have to pay for the other part is that the accident.
In one example you can think of it as a medical insurance. You know that you pay a lot of money but that gives you the opportunity to sleep safe and sound at night because you know that if something happens you're protected. You won't have to pay as much as if you didn't have insurance.
If you get classic motorcycle insurance they will probably don't accept the risk that you can wreck your motorcycle completely and get it replaced but because you pay them so much money and all other people the are ensured with them pay them so much money and because there's a small chance you will wreck your bike they can afford it.
So what you want to do is make sure that you get insurance that offers deductibles. That is how much money you paid whenever some sort of damage occur. That is a great tip on how you can control how much you will en up paying.
If you take a look at your home or car insurance you'll realize that motorcycle insurance is quite cheap. Ask yourself this question, "how much should my deductibles be"
If you want sample of classic motorcycle insurance rates then you should read this. Imagine that your premium ranges from $500-$1000. The best investment you motorcycle this is the range.
Most of the times the insurance company will drop their rates by up to 25% so it will only cost $500 just in case an accident happens. Let's say your premium is $1000 and the damage to your bike will cost you $5000 then your cost will only be $1000, your insurance will cover the rest of the money. You see how much money would've saved? No imagine that you didn't have insurance, you would have to pay the whole amount yourself.