The Easy Guide to Getting Antique
and Classic Car Insurance
Your classic car is a lot more valuable
than some ordinary old car. It's more expensive to maintain and
repair, too. So, getting antique and classic car insurance for
your classic car seems like it would be expensive, too, but that
depends on how you drive it. If, like a lot of classic car owners,
you only take your baby out for special occasions, you don't have
to maintain standard auto coverage. Instead, you might be able
to benefit from a specialty car insurance program designed to cover
your classic car. Not all specialty insurers are created equal,
though, and many have specific requirements. You may have to do
some digging to find the best insurance for your antique or classic
vehicle.
Many specialty insurers will have
restrictions on how you can use your when it's covered by then.
Such limitations as driving it only a certain number of miles
or using it only for special events are not unheard of. Your
car will also probably need to be a specific age – usually over twenty-five years old – though
some insurers will cover any collectible. If you use your classic
car as a “daily driver”, you may find that specialty
insurance isn't right for you. If, however, you take it out only
every once in a while, or use it only in parades or other special
events, classic car insurance might be able to save you a lot of
money. Conventional car insurance can be as much as 500% more expensive
than specialty insurance. Ideally, you should be geared towards
restoring and maintaining your classic car in its original condition.
Modified or souped up classics and antiques are often exempt from
coverage.
The advantages of specialty insurance for your classic car include
a lower premium than standard insurance and the fact that the specialty
company will have a better understanding of the value of your car.
While most insurance assumes that cars decrease in value as they
grow older, specialty companies understand that your classic or
antique vehicle actually increases in value. If you keep it in
good shape, your car will be worth more the older it gets, so you
need to have an agreed upon value with your insurer that reflects
the worth of your classic vehicle. Some companies can even create
a custom policy for your auto. Since most classic and antique vehicles
are different, you might need different coverage and terms than
other people. Specialty car insurance companies can help you with
this.
With specialty car insurance, you can know that your classic vehicle
is protected against damage and accidents, and that your premiums
are lower than they would be with an ordinary policy. Specialty
car insurance may be perfect for your antique or classic vehicle,
depending on your situation and how much you drive. Look into this
useful alternative kind of car insurance today, and begin saving
money while protecting your valuable classic car.
