Insurance For Your Classic Car
by Levi Quinn
Being the proud owner of a classic car comes with many perks and happy moments. However, before you can get to the fun you need to take care of the necessities such as the safety of your prized possession. Classic car insurance is a category all its own. It's not at all the same as regular vehicle insurance so you need to know the difference. Protecting your classic vehicle should be the first thing you do upon claiming ownership of it. You risk losing a lot by neglecting to do so.
You may want to try starting out with your own insurance provider. Ask them if they offer specialty insurance for classic automobiles. If they do then you may even score a deal since you already do business with them. If anything it will eliminate the need to search for a classic car insurance broker. If your insurance company does not offer specialty coverage, ask if they can direct you to a reliable source that does.
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Having a very old car does not always make it a classic. There are certain stipulations for what makes a car an antique or classic. Every insurance company is different so ask around and see if your car qualifies. Usually a car that is a well known such as muscle cars or certain models of sports cars will qualify. Also incredibly rare cars will usually be considered antiques. Determine if your car is indeed considered a classic by insurance companies before doing any negotiating.
There are many rules affiliated with having specialty insurance on your vehicle. Quite often you will not be able to use it as a vehicle that you drive daily. Rules often indicate the car must remain parked in a safe place like a garage. You can only drive it to car shows or special automotive events. Go over every detail before you commit to an insurance plan. Proper storage is always going to be an issue. A covered location where the car is away from the elements is a must. If you do not have one then there are rental facilities where you can pay to store it safely.
Many insurance companies will allow you the option of working out a statement of agreed value. This means that there is a prior agreed upon amount that the car is worth in the event that it does become damaged or involved in an event. This can be tricky because you want that value to reflect the true and actual amount.
Always be sure to get your insurance through a company that regularly deals with antique car insurance. A company that does not may not have the proper knowledge for this type of situation. You will have a greater peace of mind if you deal with someone that knows and insures classics all the time. It's in your best interest to follow all of the agreed upon rules regarding the insurance for your car. Insurance for your antique car is a special investment that you need to be able to trust.
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