The Benefits Of Antique Car Insurance

By James Tam on September 4th, 2006

Getting insurance for an antique or a classic automobile is often a challenging task because there are several things specific to this range of vehicles that differentiate them from mainstream vehicle insurances. Therefore, an owner has to be cautious when approaching an insurer for a quote on an antique car, and should consider several factors before making a final decision on choosing an online antique car insurance company.Â

How will you be using your antique or classic vehicle?Â

It’s a good idea to get coverage for how regular you use your antique car because vehicles that you drive more frequently will involve more risks. Insurance companies are well aware of this, so they will charge you more for insurance on automobiles that you use daily. However, remember that there are also insurance companies that often have experience with antique or classic cars, which offer policies for vehicles that are occasionally used, such as only on weekends, or not at all. Therefore, make an accurate, precise statement on how you’ll be using your antique car in order to obtain full coverage and avoid being overcharged.Â

How much is your car worth?Â

Do not make the mistake of assuming that an online insurance company is aware of the car’s worth because when the actual value of your automobile is in question, nobody knows better than you do. It’s best to obtain an antique car insurance policy containing a statement on paper regarding the worth of your vehicle, in addition to getting a written appraisal on the antique car to avoid any complications that may arise later on.Â

Does the insurance company have classic vehicle experience?Â

Most online insurance companies seldom have experience with classic or antique cars, so they will have no clue whatsoever when it comes to dealing with policies on these automobiles. Choose one that does, or specializes in antique cars because this is vital if you want to obtain the right type of antique car insurance policy. Ask around for recommendations from experienced members if you belong to a car club. Otherwise, interview your agent to find out the exact kind of policies they have for antique or classic cars. Remember that a basic auto insurance policy will not match your requirements, so change tracks immediately if they try to fit you into one.Â

Are there any restrictions?Â

Read your antique car insurance policy carefully and don’t just accept the first quote that you receive from the insurer. Find out if the policy comes along with any restrictive terms and conditions regarding the use of your antique car under insurance, such as the vehicle being limited to a certain mileage, or if you have to garage it at a certain location.Â

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