Classic cars are a dying breed, and you want to do all you can to protect what you have invested in. This doesn’t matter if you have purchased it in mint condition or you purchased it to fix up bit by bit. You should have great insurance coverage on that vehicle to that you are able to get it repaired or replaced should something happen to it.
Many people assume that classic car insurance will cost too much. However, the rates are often better than you might think. The company often takes into consider that your classic car isn’t driven much. It also helps if you keep it in a garage where it isn’t exposed to the elements. Find a company that is willing to offer you a great deal and to look at what the overall value of your vehicle is based on what you have invested in it.
When you get your vehicle classified as a classic car, you will often find that the premiums are less than regular vehicle insurance for it. This is because studies show that such vehicles aren’t the primary vehicle driven by the owner. They are used for a limited amount of miles annually. The insurance company may ask you about the amount of miles you plan to drive per year and use that as part of the determination for your premium.
Chances are you already know that car insurance on all your vehicles is important. That is why you are very likely to have your other vehicles insured too. When that is the case, the company that offers you coverage for your classic car will likely do it at a deep discount. This can get you at least 25% or more off the price that you would normally have to pay.
Look for a provider that is able to assist you with various types of services too such as roadside help. Should your classic car break down you don’t want to have to worry about leaving it on the side of the road. You will be able to get help with the cost of towing, repairs, and more.
Try to find a classic car insurance provider that offers you a guaranteed value on your vehicle. This will be a dollar amount that allows you to get a certain amount of money for that vehicle should something happen to it. You don’t want to just count on any amount should you need to file a claim. There can be a huge discrepancy when it comes to classic car values so you need to protect that investment.
Make sure that you agree with the coverage amount too before you agree to that insurance. You don’t want t here to be in discrepancies down the road. You need to be confident the right level of coverage is in place. As your classic car gets upgrades and increases in value, you may need to have a new assessment done for the insurance to stay where it should be in terms of the coverage.