R60/6 value for insurance

[vfiori]

Hello, I need to give an estimated value to my insurance company but I have no clue where to get an accurate value.
It's a 1974 R60/6 with 902 miles on it. I still have the original tool kit, original factory tires (no longer on the bike), and the original owner's manual. The paint is in great shape except for the fuel tank with some stains on it and a small dent. It's one owner and I have every service record dating back to when it was bought.

[schrader7032]

Insurance companies might like something that is unbiased for valuation. You could try NADA price guides here:

https://www.jdpower.com/motorcycles/1976/bmw

Some of these sites don't go back far enough for more vintage bikes, so some of the vintage bike insurance companies let you set the value you want and then they adjust the premium to match. So if your bike is really precious, you can have a high insurance value as long as you're willing to pay the premiums.

There is an R60/6 for sale on the MOA Marketplace...seller is asking $3000. Just another data point.

[weh8127]

https://bringatrailer.com/listing/1975-bmw-r60-6/
https://bringatrailer.com/listing/1976-bmw-r60-6-2/

The ins co likes to gather info on similar items to formulate a value. Here are two recent sales.

[vfiori]

Thanks.

[srankin]

As Kurt wrote, I set the price for my two bikes and pay/Paid the premium. No problems with a payout on my recently totaled RS. I got what I had it insured for plus sales tax.

Don't under insure, insure it for what you think it is worth. LOL, if the insurance company thinks you are crazy, they will tell you.

As a hint, take a good selection of pictures of the bike from four or more angles and views, and send them to your agent, plus keep the files as well. LOL, I guess maybe this is a good idea for a mint bike but maybe not for a rough one. Good luck. St.

[toolmandoug]

Hagerty values are, concours - $13,000.00, excellent - $8,100.00, good - $5,300.00, fair $3,100.00.

[drpetemurray]

The OP bike is essentially a new motorcycle from 1974 preserved. Contrast that to the investment of a ground-up restoration. You could invest 4-6 grand in parts plus repaint fees, labor fees 3-4 grand and acquisition fee example $2500. Now the value invested is 12,500 for essentially a new bike. New original bike Priceless
My 73 R75/5 ground up resto parts cost 4500, the machine shop work 1000, paint frame 400, tanks and fenders original paint. My labor is not in price 60 hours minimum. Factor shop rate lowball for restoration 90/ hour $5400. Cost of bike $600. Potential restoration totals $11,400.

[Slash2]

I've always insured through Hagerty and they have never objected to any value I've placed on a motorcycle. I usually place an over-value on my bikes to cover the potential inconvenience of finding a suitable replacement, having it shipped, going to pick it up, wasting time etc etc. They are more concerned it seems with what the bike is worth to YOU. That said, I suppose if I tried to insure my R69S for a million dollars they might object. So I would declare what it's worth to you within reason and I'm sure they'll accept your money.

[vfiori]

I ended up just going with an estimated value of $10,000. It's going to need a rebuild in the near future due to old seals. But I'll run it like Harley until it gets bad. Then I'll be future-proofing this thing.

[srankin]

I would say that is a fairly close value. St.