How to Get a Great Deal on Antique Car Insurance in the USA  

How to Get a Great Deal on Antique Car Insurance in the USA

Obtaining car insurance for a classic or antique collector's car is nothing like buying car insurance for a regular, every day car. The insurance policies which are offered for antique cars are a lot different than the auto insurance which is offered for current make and model vehicles which are meant to be driven often. There are a few things that you should know as the driver of an antique or classic car, in order to make sure that you obtain the right kind of automobile insurance and for the right price.

One of the first things that you should know about antique car insurance in the US is that there is a limit on how old your car must be, in order to qualify for the insurance plans which are offered for classic cars. This age limit is typically fifteen years, but may be different depending on the laws that are offered by your state. You should also be aware of the fact that in order to qualify for antique car insurance, you must have a regular vehicle which you use as your main source of transportation, in addition to a garage which you can use to store your antique vehicle in.

The requirements for antique car insurance in the US may be a little tough, but it is absolutely imperative that you find a classic car insurance policy for your vehicle, because the types of coverage that are offered for these vehicles are designed in order to protect you from completely losing out on your entire investment. Because traditional car insurance policies pay out the actual cash value of the vehicle when it is totaled, your car will be worth very little thanks to depreciation. Traditional car insurance policies are a poor choice for owners of antique cars, because they do not incorporate in the cost of appreciation that comes along with a collector's item vehicle. The other main form of traditional car insurance covers whatever the stated value of the vehicle is. What this means is that the insurance company will pay out what the vehicle is stated to be worth if it is totaled in an accident.

What sets "collector's policies", or car insurance policies for classic, antique and collector's item vehicles apart from typical car insurance is that the coverage offered caters to vehicles which have appreciated in price rather than depreciating as a normal car eventually will. Traditional car insurance typically only pays the actual cash value of the vehicle in question, which is what it will cost to replace the car, minus the amount of depreciation. Antique car insurance, on the other hand, pays out for the agreed upon value of the car. What this means, is that you will have to sit down with your insurance provider and agree upon how much the vehicle is worth. This way, if the vehicle is ever totaled, you will receive the full value of the vehicle as a collector's item, rather than simply as a vehicle which has depreciated over the years. Another factor worth mentioning is that because classic cars are not typically driven as often as regular cars, antique car insurance is typically a lot less per month than what you will pay for traditional car insurance. What this means, is that antique car insurance is a win-win situation for any car collector.

Shopping around for antique car insurance quotes is just like shopping around for quotes for any kind of automobile insurance. Once you know that your vehicle qualifies for antique car insurance, you can begin to look for automobile insurance providers who offer this special type of coverage. Not all insurance providers can properly insure your classic automobile, so it is important that you shop around. Additionally, just like with any automobile insurance quote, it is imperative that you shop around in order to obtain the best possible price for your car insurance premiums. Antique car insurance may be cheaper in general than what you will pay for traditional car insurance, but this does not mean you can still find cheaper rates if you know where to shop around. You must make sure when applying for antique car insurance that you qualify, otherwise there is no point in wasting your time looking for quotes. The following are the criteria associated with classic car insurance:

  • You must have a minimum number of years of driving experience under your belt. What this means is that young drivers will have difficulty obtaining classic car insurance policies.
  • You must not be using your classic car for any form of business purposes. If your classic car is used for business practices of any kind, you will not qualify for classic car insurance.
  • You must have a garage that can be used to store your classic car in. If you do not have a safe place to store your vehicle, you will not qualify for classic car insurance.
  • You must be able to prove that you have another car which is used regularly. If your classic car is your primary car, you will likely not be approved for antique car insurance.
  • Most insurance companies have a maximum number of miles which you can drive the vehicle for every year. You cannot drive the vehicle over this limit.
  • The vehicle must be a specific number of years old. The typical limit is fifteen years. What this means is that if your vehicle is not fifteen years old, it will not qualify as a classic or antique car.
If you are driving a vehicle which is at least fifteen years old and would like to insure it, your best bet is antique car insurance. Antique car insurance policies will help to ensure that you receive a fair market value for your vehicle if it is ever totaled. If you want to avoid losing your hard earned investment in the event that your classic car is totaled, antique car insurance is the only option worth your consideration.
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