Vintage Car Insurance

By James Tam on August 5th, 2007

Vintage cars are pieces of history that we want to preserve for ourselves, and our future generations. For many, it is the style and the status symbol attached with these cars that make them so attractive. Vintage cars are those cars that are manufactured from 1903 through 1933. There are many owners who have a fleet of such vintage cars as their collection, and they preserve and maintain these painstakingly, taking it out on very few occasions, if at all.

A vintage car that is in a working condition is obviously much sought after than a model of a car that just sits, and cannot be taken out for a ride. A weekend is a good time for such proud owners to give some time to their indulgences. Taking out a vintage car on a bright sunny Sunday morning, maybe for a ride or to the nearest course for a round of golf seems apt for such car owners.

The fact remains that vintage cars are very costly to maintain, and especially in a good working conditions. Spares not being available commonly do not help things, and there are not many people out there who are qualified to work on a vintage car if there happens to be some problem.

Also, one of the trickiest parts is the insurance cover for such cars. Many of the major Car insurance companies do not recognize vintage cars as special, and they only offer a cover that is offered for a new car. This is not very helpful for vintage car owners as these cars are indeed special and ideally would require an appropriate cover.

It is a general public perception that vintage car insurance is very cheap as compared to modern cars. This is not always the case, since such special insurance is tied to various conditions. The insurance company would want that such a vintage car has a very limited mileage, and the vehicles need a good protective garage in ideal conditions. The assumption is based on the fact that such cars are not used for transportation, but are collector’s items. So such cars should not be taken on the roads that often.

Also, putting a value to such cars is very difficult, and there might be difference between the owner’s estimation of the car’s value, and the insurance company’s evaluation of the same car. It is beneficial if you and the insurance company can decide on a value fixed by a third party that specializes in valuation of vintage cars.

You should make sure that the insurer guarantees the car’s genuine agreed evaluation. What this means is that if your car gets stolen or is damaged beyond repair, then you will get the full money that is agreed upon as the value of the car.

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