Classic car insurance is cheaper than standard car insurance if you and your vehicle qualify!

 Classic car insurance is cheaper than standard car insurance if you and your vehicle qualify!

So what's the deal? What are the features of classic car insurance? What do I need to know?

Classic car insurance insures car enthusiasts that they have invested in a luxury vehicle. Collector car owners often mistakenly assume that the only way to insure a classic car is to include it in the family car policy. Incorrect.

Standard car insurance is usually more expensive than traditional car insurance, but these companies have some criteria that you must meet to qualify for the program and get these good rates. Let's take a look at some of the main restrictions faced by classic car owners.

Here's what classic car insurers need to know before getting this great deal on auto insurance coverage.

Driver Age - Many companies have age restrictions for drivers. Your vehicle's mileage may not meet mileage limits, lodging or garage requirements, and vehicles have age restrictions.

Classic car insurance policies can be very different in scope than standard car insurance. Most standard auto insurance policies insure a vehicle at its present value less depreciation. This means that the value of your car will decrease over time. Not a classic vintage car. In contrast, collectible vehicles increase in value over time if properly maintained. That's because they aren't driven that often, for the same reasons cars for everyday use are, and their owners really love them. To provide adequate coverage for this situation, classic car insurance companies typically offer agreed value coverage. This basically means that you, the insured and the classic car insurance company agree up front on the value of the vehicle. This vehicle valuation provides the full market value of a classic car as stated on the policy and takes into account the increase in value in the event of damage.

Some airlines have low or no collision and collision insurance deductibles. We often offer replacement parts and accessories not found on classic cars. You won't find this type of coverage on your family's car insurance. 

Berbagi :