No matter what kind of car you own, having a
car insurance policy for it is absolutely necessary if you are to protect
yourself from any unexpected expenses that might come with accidents caused by
or caused on your vehicle. It even becomes more important to have a special
kind of protection when you own a classic car since the repairs that you might
have to deal with when your car figures in an accident would most likely be
expensive. You have to make sure that your protection adequately covers your
vehicle. There is nothing that you would regret more than having to shell out
all that money for repairs just because you neglected cover your car with a
classic car insurance policy.
There are varying definitions of what
constitute a classic car. Different insurance companies would have their own
guidelines and categories for these cars. The age and the number of cars of the
same kind ever manufactured and still on the road are often the considerations
in classifying cars as classic or vintage. Not a whole lot of insurance
companies offer classic car insurance. If you are to get one for you classic
car, you have to search for these insurance companies and do your research as
to the differences between a classic car insurance and your regular car
insurance policy. Ask around to see which insurance companies give the best
coverage at the most affordable costs.
Here are some tips that could help you in your
search for a good insurance coverage for your classic car:
1. Find out which category your classic falls
under. Classic and vintage cars made no later than the early seventies going
back to the period right about the end of World War II fall under anyone of the
four categories in as far as car insurance is concerned. Your classic car could
be Veteran, Edwardian, Vintage, or Classic in classification. A fifth category
is added for collectible rare cars that are about five to ten years old. These
are classified as Cherished cars. Car insurance companies offering insurance
coverages for classic cars could cover any one or several of these types of
cars.
2. Determine what value to put in your car
insurance coverage. Unlike ordinary car insurance, you can actually name the
value of your car to put down as your insurance coverage. The Agreed Value for
which the classic car is insured will be the maximum amount that the insurance
company will give you in case of a claim. It is important to have your classic
car's appraisal up-to-date so you know how much it is worth at market value.
The Agreed Value may be changed depending on the car's condition upon renewal
of your car insurance policy.
3. Know if there are limitations as to your
classic usage and storage under your insurance policy. Insurance policies for
classic cars often have restrictions on them. These limitations could consist
of mileage restrictions and a garage lock-up. Limiting your mileage could work
to your favor too. If you initiate an agreement to drive to a lower mileage
limit, you could cut your premiums back by about 5%. If you plan to participate
in car shows and other car events, you have to make sure that your insurer
knows about this as this could affect your coverage. Make sure also that both
you and your insurer agree as to the storage conditions of your classic car.
Looking for the cheapest car insurance possible? Visit http://www.carinsurancequote.net to find the best deals today!
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