Insuring Your Classic Car

Insuring Your Classic Car With spring upon us many of "car guy" is putting the finishing touches on his great American classic in anticipation of pulling out of the garage and heading to his first auto show. It's an American tradition as old as cars themselves; a tradition that will live on as long as there are men and automobiles. But if you're new to the classic car game, you need to be aware that insurance is a little bit different than what you're used to with your standard passenger vehicle.

For example, you can get classic car insurance quotes free, but you'll find regular insurance companies have a hard time quantifying the value of your vehicle. They can't look in the Kelly Blue Book or NADA manual for any car over 30 years old. So if you've restored a 1950s classic convertible there's no way for a representative on the other end of the phone to know what it's worth. At best you'll get a minimum liability policy quote and nothing more.

Specialty Car Insurance Companies Fortunately for classic car owners, there are specialty car insurance companies who provide awesome coverage for classic cars. Such companies are more prevalent in southwest states like California and Arizona, but they can be found just about anywhere. Even if there isn't one in your state there's a company somewhere that's licensed to sell you a policy. All you need to do is compare quotes according to the type of coverage you need.

Deciding on the Proper Coverage If you own a classic car, cheap auto insurance is probably going to be hard to come by. For the best possible price you can get insurance that only covers your liability on the road. Such insurance wouldn't cost you much more than what you're already paying on your day-to-day vehicle. But if you want more than just liability your price is going to go up accordingly.

This is also where comparing multiple auto insurance quotes becomes tricky.[1] For example, consider comprehensive and collision coverage. There is no way you're going to get a car insurance policy that will cover your vehicle at replacement cost, because there's no way to determine that. Instead, you'll have to get a policy based on cash value. A cash value policy will pay you what the car is actually worth, restoration and custom parts included. The value is typically determined by averaging three or four appraisals both the insurance company and the owner can agree on.

Lastly, if you transport your vehicle to car shows, whether you drive it or put it on a trailer, you'll want extra coverage to take care of you during transit. There are some companies that offer breakdown insurance that will pay for your overnight accommodations while your car is being repaired. There are even companies that offer something similar to an umbrella policy. These are the most expensive of all classic car policies, but they're worth it if your car is extremely valuable.

References: 1. http://firstcarinsurancequotes.com/how-to-compare-car-insurance-quotes-online/ - The fact that you’re reading this blog post indicates you’re probably familiar with searching for car insurance over the Internet. But do you know how to properly compare car insurance quotes online?