A classic car is a sizeable investment. You need to protect that investment by making sure the car is properly insured. The coverage you need will depend on how you use the car.
There are three types of car insurance. Actual cash value is the most common type of car insurance. It pays out the depreciated book value of the car. Stated value allows the car's owner to state a value for the vehicle that is greater than the actual cash value. Agree value guarantees the car's owners will get all of their money back in the event that the car is a total loss.
These types of insurance are offered through a standard insurance provider. The owner of a classic car should also consider a classic car insurance policy. These policies can be cheaper and less restrictive than a standard car insurance policy. Some classic car insurance policies require the driver to be 25 years or older. Some programs even require the driver be at least 30 years old. Classic car insurance programs could also limit the amount of driving you do to 2,500 miles or less a year. Annual odometer readings could also be required. The insurance provider will give you specific information on what requirements need to be met in order to insure your classic car.
No matter whether you opt for a standard policy or classic car coverage, be sure that your policy allows flexible use of your car. You want to be sure that you can use the car for an unexpected trip or exhibition without having to buy a rider or a new policy altogether. If you keep your vehicle in storage part of the year, be sure to tell you agent. Some policies offer lower premiums if you drive the car only certain months of the year.
When it's time to choose a car insurance provider, do your research. Make sure you find a car insurance provider with the knowledge and experience in insuring classic cars. You want to make sure your car insurance provider knows how to properly protect your classic car investment without taking advantage of you. Research both standard insurance providers and classic car insurance providers. Shop around and get more than one insurance quote. Compare quotes and see which provider offers you the best deal. Just make sure the policy offered meets your needs. You don't want to accept an insurance provider's offer because the price can't be beat, only to discover later that the insurance coverage is not what you need for your classic car and driving situation.
Whichever kind of policy works best for you, be sure you use a licensed and experienced insurance agent. Licensed agents can look at your situation and offer you the exact coverage you need to enjoy your classic car worry-free. - 29952
There are three types of car insurance. Actual cash value is the most common type of car insurance. It pays out the depreciated book value of the car. Stated value allows the car's owner to state a value for the vehicle that is greater than the actual cash value. Agree value guarantees the car's owners will get all of their money back in the event that the car is a total loss.
These types of insurance are offered through a standard insurance provider. The owner of a classic car should also consider a classic car insurance policy. These policies can be cheaper and less restrictive than a standard car insurance policy. Some classic car insurance policies require the driver to be 25 years or older. Some programs even require the driver be at least 30 years old. Classic car insurance programs could also limit the amount of driving you do to 2,500 miles or less a year. Annual odometer readings could also be required. The insurance provider will give you specific information on what requirements need to be met in order to insure your classic car.
No matter whether you opt for a standard policy or classic car coverage, be sure that your policy allows flexible use of your car. You want to be sure that you can use the car for an unexpected trip or exhibition without having to buy a rider or a new policy altogether. If you keep your vehicle in storage part of the year, be sure to tell you agent. Some policies offer lower premiums if you drive the car only certain months of the year.
When it's time to choose a car insurance provider, do your research. Make sure you find a car insurance provider with the knowledge and experience in insuring classic cars. You want to make sure your car insurance provider knows how to properly protect your classic car investment without taking advantage of you. Research both standard insurance providers and classic car insurance providers. Shop around and get more than one insurance quote. Compare quotes and see which provider offers you the best deal. Just make sure the policy offered meets your needs. You don't want to accept an insurance provider's offer because the price can't be beat, only to discover later that the insurance coverage is not what you need for your classic car and driving situation.
Whichever kind of policy works best for you, be sure you use a licensed and experienced insurance agent. Licensed agents can look at your situation and offer you the exact coverage you need to enjoy your classic car worry-free. - 29952
About the Author:
Tom Martens is the content syndication coordinator for Carinsurancesa.co.za. South Arica?s leading car insurance portal.
