Insuring a Classic Car

Insuring a classic car can be a tough job, especially if one has never owned a classic car before or has little knowledge about its insurance. Most people still do not know that there is insurance available separately for classic, vintage, antique and rare cars. These insurance have services specially meant for these types of cars.

The need for such sort of an exclusive policy for classic cars comes in handy when you actually make the claim. Regular car insurance policy agents cannot understand why you would want to go to a particular mechanic or buy car parts from an expensive shop to preserve the value of your car.

Before actually going in for a company which specializes in classic cars, it is important to have done a thorough background check on them. Also, you can acquaint yourself with the jargons of this industry for a better understanding.

You can actually take a policy when you qualify the company's preset conditions. Some of these generally are that you should be of a particular age. You should have at least one other car that you use for your daily usage. Your classic car should be 15 to 25 years old and you should never have used it for commercial purposes. Your car should have been driven for only 2500 miles or less per year. It is only when you fulfil all these requirements that you would be given an insurance policy.

There are three kinds of automobile coverage - Actual Cash Value, Stated Value and Agreed Value. Actual Cash Value is the amount that the company pays you after depreciating the value of the car in terms of its years. That is, the higher the age of your car, the less is the amount that you are going to get. Stated Value is the amount stated for the value of your car. This amount is greater than the Actual Cash Value. This coverage is meant especially for classic cars. The Agreed Value is the type of coverage you should take if you have a vintage car. This type of coverage actually guarantees in writing that this is the amount that you are going to get if your car is stolen or damaged.

There are many companies that will offer you different types of policies. One should make an informed choice, keeping in mind the company's reputation and its customer care services. The best place to find out about the most reliable one in your locality is your local car club. Ask around for people who have taken up policies and learn from their good or bad experience before actually insuring a classic car.

Available during office hours

Name
Tel