Do I need Antique Car Insurance?
As an antique car owner, you’re likely wondering about the benefits of carrying antique car insurance. Is it something that you really need to protect your investment, or is it an expense that you can cut out of your budget? What is the purpose of carrying insurance on your classic car, and how can you find the right insurance coverage for your antique vehicle?
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Don’t rely on a standard car insurance policy for your antique vehicle.
You may think that you can just add your antique car to your current insurance policy, especially if you regularly drive the vehicle. However, keep in mind that this coverage will likely only cover a fraction of the worth of your antique car in the case of an accident.
Your car will often be “replaced” at the value that you paid for the vehicle when it was new or before it was an antique, and possibly even less. That means that the value added to your car over the years because it is an antique will not be considered by the insurance company. You may believe that you’ll never need to make an insurance claim, but you never know when another driver on the road will damage your vehicle in an accident.
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Shop around for the best price on an insurance policy.
Shopping for an insurance policy on your antique car may seem like a daunting task, but, in the end, it’s just like shopping around for any other insurance policy. The aim is to get the coverage you need at the best price, and to avoid any costly coverage that you would be unlikely to use.
When comparing antique car insurance quotes, try to keep the policies as similar as possible across different companies so you can be sure that you’re comparing apples to apples. That way, you can discuss the quote price with an agent and negotiate down the cost on the same exact coverage.
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Find out if you’re eligible for antique car insurance.
Unlike other types of car insurance, a policy on an antique vehicle isn’t available to everyone. You’ll probably have to meet some requirements before your antique car can be insured, including a long, clean driving record typically at least ten years in length, proof that the antique will be stored securely, and proof that you have another car besides the antique for your daily commute. In addition, most antique car insurance policies will only insure your vehicle if it is driven below a certain number of miles per month, typically around 250 miles or fewer.
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Gather information about your antique car and your driving habits before obtaining insurance.
You’ll want to know how much insurance you need and if you qualify for antique car insurance based on your driving habits, so gather all of the relevant information before you start shopping around for a policy quote. Either research the value of your antique car for insurance purposes, or find a professional who can do so for you. Remember to reassess the value of your antique car every few years so you can update your insurance policy accordingly.
If you’re ready to start shopping for an insurance policy for your antique car, request a quote online today! It’s fast and easy, and can get you in touch with an insurance agency specializing in antique car insurance. If you’d prefer to speak directly to a representative about your antique car insurance quote, you can request a quote by phone now!
Call Us at 407-207-1616
July 1, 2011 at 12:46 am | Auto Insurance, Specialty Insurance | No comment
