Classic Car Insurance Companies
If you have a classic car, you have to have classic car insurance. But what do you look for in classic car insurance companies?
What To Look For In An Insurance Company
One thing to look for is an insurance company that actually has experience insuring classic cars. Over 50% of owners of classic cars have their automobile insured by their regular car insurance company. And, usually, this leaves some gaps in your insurance coverage.
There are plenty of insurance companies that specialize in classic car insurance - also sometimes called collector car insurance. But there are also many regular insurance companies that have a lot of experience in insuring classic cars.
It's not important that the insurance company specializes in insuring classic cars. It is, however, important that they have experience in insuring these types of cars. If your current auto insurance company happens to fall into this category, you can probably save some money on your overall auto insurance by having your classic car insured by them.
In finding an insurance company, the main feature that you want to look for is a company that is 1) well established and 2) has a good reputation.
A well established company will know all of the ins and outs when it comes to classic car insurance. You can be pretty assured that they know what they are doing and that your car will be adequately insured for most possibilities.
A good reputation is equally important. If a classic car auto insurance company has been around for a long time, but they have a sleazy reputation, this means that they also know the best ways to take advantage of you. So always check the reputation of the insuring company before making a commitment.
Limitations On Insurance Coverage
When classic car insurance companies quote the costs for coverage, they always tailor it to both the specific vehicle that is to be insured as well as to the particular needs of the classic car collector. The coverage will often come with a few restrictions.
For example, there may be a limit on the number of miles in which the car can be driven during the coverage period. There may be restrictions on the distance that the car can be driven from your home. And there may be restrictions on the type of conditions that the car must be stored in. Depending on the popularity of the car, and its location, some policies will also mandate that the car will be fitted with specific anti-theft devices.
Because the car is considered a collectible, insurance companies will also, typically, replace restrictions on how often the car can be used and under what circumstances. This enables them to better control the premiums for the vehicle.
Before the auto insurance company will insure your care they will require certain types of documentation. The first thing that they will need is an appraisal of the current value, with supporting documentation, of your car.
If you don't want to be bothered with having to research all of the possible insurance options for our car, an easy way out of your predicament is to use the services of a classic car insurance broker. Such a broker will have a good handle on the latest innovations in the industry as well as current prices. The key in this case, however, is to find a broker who is both trustworthy and knowledgeable.
Choosing A Classic Car Price Guide
Determining Your Classic Car Value
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