If you are an antique classic car owner or enthusiast considering purchasing insurance, there are agencies that represent several companies that specialize in insuring antique cars. This is good news because if you own a collectible car that is not insured with one of these specialty companies, you’re likely paying too much for coverage.
An antique classic car insurance agent is someone who really understands the needs of classic car owners. Traditional car insurance coverage is based on depreciating value. Two ways to differentiate between a collectible car and a car thought to be a classic but in fact really isn’t, are the amount invested in the vehicle and the age and rarity of the car. First verify that the car is, in fact, a vintage model. It’s important to determine whether or not the car qualifies as a collectible because how much is paid for a policy may depend on certain factors.
Things to consider before purchasing your policy
There are a few factors to consider when inquiring about the available coverages for antique/classic vehicles. Usually expensive vehicles cost more to repair, maintain and insure. Some people may only drive once a week, while others only once a month. Some use their vehicles only for car shows or special events, while others may rent theirs out for television and film productions. When speaking to your agent, make a checklist of a few important considerations:
- The more policies a person has with one insurance company, whether it’s for cars or homes, the more substantial savings they may receive, so be sure to insure with the same company
- Raising the amount being paid out-of-pocket for losses can help save more on the policy, so it’s wiser to increase the deductible
- A clean driving record, meaning no accidents or violations, can potentially lower insurance rates
- By managing the account online, not only will you save time and hassle, but also payments will be made automatically, so there’ll be no lapse in coverage
All valued investments need to be protected. Insurance is a true safeguard for collector cars, and as an owner of these precious vehicles you need antique classic car insurance. Speak to a qualified agent today.