A classic car is something that is truly special. As a wholly American hobby that combines a reverence for history with an eye for aesthetic craftsmanship, a classic car collector is able to see the beauty and significance in car models of the past. Because of how special classic car models are, particular care should be taken to protect them in the face of potential breakdowns, accidents, and the common catastrophes that cannot be foreseen.
That is why auto insurance designed specifically for a classic or antique car models is going to be important to protect your car in the face of potential damage. Auto insurance companies offer comprehensive, specially tailored policies for classic car collectors looking to take their automobiles for joyrides, parades, and to auto shows without fear. There are a few criteria that go into writing up a classic car insurance policy that a common auto insurance policy will not include. An understanding of these criteria will make it easier when selecting a policy that will best suit your needs as a classic car owner.
It is best for a classic car to pursue an agreed value insurance coverage. The agreed value is what will be paid to the policy holder based upon total loss of the car. This will cover its full value and ensure that no matter what happens to your car, there will be full compensation. Some other coverage options can include spare parts, roadside service and car show expenses if you plan to take your car to shows.
Also, for many models inflation guard will be highly beneficial. Inflation guard is basically insurance that your coverage will remain relative to the current value of the car, a very selective aspect of auto insurance in relation to newer cars. It means that as your car ages and builds more value; your coverage will keep up with its value, accounting for inflation and appreciation. The policy is thus built to last, just like the classic car.
Depending on the mileage that you put on your classic car each year, your coverage cost should be adjusted. If you only plan on driving the car in parades or to classic car shows, the price of insurance should reflect the lack of use. However, even if you take it for joy rides in the summer, a new level of coverage will be warranted. Talk to your insurer to find out what your auto insurance options are.
Finally it would be prudent to join a classic car owners and collectors organization in your area. Such clubs will bring you up-to-date information on approaching car shows and provide you with the company of like minded classic cars owners to enable connections for parts and repair specialists. As an added bonus, auto insurance companies will sometimes offer discounts and special coverage to car club members.
With some planning and a full understanding of what is expected, you could maintain a safe auto insurance policy for your classic car at a reasonable price. Research, compare quote