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Cheap Classic Car Insurance

Cheap Classic Car Insurance

Classic car insurance is for those motor car buffs that have vintage vehicles to insure. Many classic car enthusiasts make the mistake of putting their classics on their standard auto insurance thinking that they can't possibly find cheap classic car insurance. They would be wrong because you can find cheap classic car insurance if you know where to look and what to look for. Your car doesn't have to be an antique or high cost to qualify. It's entirely possible that your old bargain toyota may meet criteria. Actually the standard car insurance policy is usually more expensive than what you can get with the classic car auto insurance.

There are some restrictions that classic car owners face when qualifying to get classic car insurance rates though. Classic automobile insurance offers good rates but only to classic car owners who can provide the following pieces of information:

Age of the driver
Mileage on the classic car to be insured, and annual mileage limit.
Housing or garage Vehicle age

The classic auto insurance policy will vary greatly regarding the coverage from what you see on your standard auto insurance policy. On a standard policy the insurance covers the vehicle for the current value, minus of course the depreciation (which starts the moment it leaves the lot). Standard insurance works on the premise that as the car is used and its age increases the value decreases. This is not the same with classic auto insurance. If the classic car is well maintained, the value will increase over time. Classic cars are not driven as often as standard cars are. Classic car owners baby their cars - insurance companies know this. Classic car insurance companies offer "Agreed Value Coverage", which simply means that the owner of the classic car and the insurance company will agree upon the value of the classic car up front. This is the full market value of the classic car as stated on the policy and the factored in appreciation of the value at the time of the loss. Sometimes the auto insurance carrier will also offer low or no deductibles for comprehensive and collision coverage. They will often also offer coverage for spare parts or accessories. This kind of coverage is not offered on any standard car insurance policy.

The classic car owner not only can find that insuring his classic is cheaper with classic car insurance but he gets more value for his money with the classic car insurance policy over what he would get with the standard auto insurance policy. Automotive cover for classic cars can be inexpensive, if you use the muscle that the internet provides, and do your homework. Sometimes to be able to obtain cheap classic insurance the owner must be able to verify that the car is at least 25 years old, has all original or restored to original condition parts and that the classic car is stored in a garage and that the owner of the classic car maintains a daily-use vehicle for everyday use other than the classic car. The classic car is only to be driven for club or hobby activities are what are usually written into the classic auto insurance policy. Daily driving, commuting to work and commercial use of the classic auto to be insured is not allowed. These are all important reasons why classic car insurance is cheaper than standard auto insurance.

Take care when you buy your cover to ensure that your driving requirements are included by the insurers that you consider. A typical car insurance agent may even refuse to insure a classic car because it just is not something they usually do. A classic car insurance broker on the other hand is familiar with insuring all kinds of vehicles including classic cars. You will find better comprehensive rate comparisons when dealing directly with a classic car insurance broker. This way you can gather several quotes from competitive classic car insurance companies and can find the most value for your dollar. Cheaper auto insurance does not have to necessary mean a policy of lesser value. Besides looking at the type of car, usage, location, driving history and age of the owner another way to obtain cheap classic car insurance is by utilizing the deductible. Normally the higher the deductible, the lower the premium. Playing around with the deductible amount with the guidance of the broker can net the classic car owner the cheapest classic car insurance possible.

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