Your Antique Car and Classic Car Insurance Options Explored
An antique, classic, or other collector
car is a thing of beauty. Owners of these vehicles love them and
want to take care of them, including protecting them with quality
car insurance. However, no one wants to pay more than they have
to for this kind of coverage. So, what are your options when you're
looking for antique car and classic car insurance to
cover your classic or antique vehicle?
What kind of auto insurance you choose
for your car will depend on how you use it. Some people keep
their collectible car in a garage most of the time and only bring
it out on special occasions. Others like to get the most use
they can out of their baby. If you drive your classic car every
day, your best bet will be a conventional insurance plan. Specialty
companies don't like to cover “daily
drivers” because of the mileage that tends to be put on them.
If, on the other hand, you only drive your classic or antique car
once in a while, you might benefit from using a specialty insurance
policy. These plans can be much cheaper than conventional insurance.
Regular insurance is as much as five hundred percent more than
a classic car insurance plan. If you're eligible for a specialty
insurance benefit, you can put your money towards other things,
like taking care of your car.
To be considered by a specialty company,
you'll have to meet certain requirements. These vary, depending
on the insurance provider. Some insurers require that you drive
no more than 2500 miles a year in your classic car. Others don't
restrict mileage. Some insurers want to make sure that your car
is a certain age – usually
25 years or more. Other insurers will cover all collectible cars,
regardless of age. These are usually the specialty insurance companies
you want to talk to if you have a newer exotic or other special
car. Exactly what your specialty auto insurance will cover, the
terms of service, and the way claims are handled varies by insurer.
You will have to ask each individual company about their specific
methods of handling classic car insurance.
If your classic car is appropriate for specialty insurance, this
kind of coverage is better suited to taking car of your car than
regular insurance. Because most cars lose value as they age, you
might not be properly recompensed for your classic car if the worst
happens. Classic and antique car insurance takes this into account.
Specialty insurers are aware that some cars actually increase in
value with age, and will pay an agreed upon value in the instance
of a claim. This way, you can make sure that your classic car is
protected against every eventuality, and not have to worry if you
will be able to get it repaired. Specialty insurance companies
can work with you to keep your classic or antique car insured for