Which Classic Car Insurance Brokers
Are Best for You?
Most people still insure their classic cars
through a normal insurance policy, even if they don't drive it
very often. But what if you could insure your classic car for much
less than you're paying now? Specialty car insurance programs permit
you to insure collectible vehicles that you don't drive very often
for a very low fee, and classic car insurance brokers can help
you to get these low prices. Some of them will even let you insure
multiple vehicles for the same cost. Less than half of the collectible
cars currently driven are insured through these specialty programs,
because their owners don't know about these discounted insurance
offers or think that they aren't eligible. What you need to do
to be eligible for a classic car insurance policy varies by insurer.
Some require that you drive the car infrequently, or require that
your car be a certain age. This is usually 25 years or older. However,
not all specialty plans require this, so it's best to inquire with
the company to find out what they want you to do to acquire insurance
through them. Whether your car is insurable is determined on a
case by case basis by the specialty insurer.
Don't look for insurance through your ordinary insurer. That's
for your regular daily driving car. If you drive your classic car
daily, you will, of course, have to get standard car insurance.
But if your classic vehicle is a show piece that you only take
out once in a while, you can benefit from low rates provided by
a company that specializes in insuring collectible cars. These
can include classics, but exotic cars and other collectibles are
also covered. Be sure to compare options when you go looking for
a plan through a specialty car insurance company. There are a lot
of differences between car insurance plans for classic cars. The
exact levels of service, rates, coverage types and the way the
company handles claims are all variable. If you're insuring a collectible
car, be sure to research all the different types of insurance policies
before deciding on one. The first one you encounter might not be
the best. Shopping around to various companies will help you get
the best, most affordable insurance.
When you pick a specialty classic
car insurance broker, make sure that they offer their insurance
on an Agreed Value basis. This is because the usual method of
determining the value of your vehicle – Actual
Cash Value – assumes that cars decrease in value with age.
Since classic cars actually appreciate in value as they get older,
you want to have an agreement with your insurer about what your
car is worth. That way you will be able to replace it should the
worst happen.
Since every classic car is a little different, as well as every
situation, it's hard to tell just what policy will be right for
you. The best advice is to look around and know your market and
car well. That way, you'll be able to find the best specialty car
insurance broker to protect your classic car, and save some money,
too.
