Which Classic Car Insurance Brokers Are Best for You?  

Which Classic Car Insurance Brokers
Are Best for You?

Most people still insure their classic cars through a normal insurance policy, even if they don't drive it very often. But what if you could insure your classic car for much less than you're paying now? Specialty car insurance programs permit you to insure collectible vehicles that you don't drive very often for a very low fee, and classic car insurance brokers can help you to get these low prices. Some of them will even let you insure multiple vehicles for the same cost. Less than half of the collectible cars currently driven are insured through these specialty programs, because their owners don't know about these discounted insurance offers or think that they aren't eligible. What you need to do to be eligible for a classic car insurance policy varies by insurer. Some require that you drive the car infrequently, or require that your car be a certain age. This is usually 25 years or older. However, not all specialty plans require this, so it's best to inquire with the company to find out what they want you to do to acquire insurance through them. Whether your car is insurable is determined on a case by case basis by the specialty insurer.

Don't look for insurance through your ordinary insurer. That's for your regular daily driving car. If you drive your classic car daily, you will, of course, have to get standard car insurance. But if your classic vehicle is a show piece that you only take out once in a while, you can benefit from low rates provided by a company that specializes in insuring collectible cars. These can include classics, but exotic cars and other collectibles are also covered. Be sure to compare options when you go looking for a plan through a specialty car insurance company. There are a lot of differences between car insurance plans for classic cars. The exact levels of service, rates, coverage types and the way the company handles claims are all variable. If you're insuring a collectible car, be sure to research all the different types of insurance policies before deciding on one. The first one you encounter might not be the best. Shopping around to various companies will help you get the best, most affordable insurance.

When you pick a specialty classic car insurance broker, make sure that they offer their insurance on an Agreed Value basis. This is because the usual method of determining the value of your vehicle – Actual Cash Value – assumes that cars decrease in value with age. Since classic cars actually appreciate in value as they get older, you want to have an agreement with your insurer about what your car is worth. That way you will be able to replace it should the worst happen.

Since every classic car is a little different, as well as every situation, it's hard to tell just what policy will be right for you. The best advice is to look around and know your market and car well. That way, you'll be able to find the best specialty car insurance broker to protect your classic car, and save some money, too.



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