Classic Car Insurance is Serious Business

Making a choice of a classic car insurance company for your antique car can be a hard thing to do. The car insurance world gives you conflicting information about policies and coverage. Classic insurance coverage can be had for a substantially lower rate over a traditional insurance policy, but you need to abide by its limitations. It pays to do your research to make sure you're getting the best value possible.

There are several critical points you need to consider before choosing an insurance company:

1. How many miles do I plan on driving each year?
2. What's my acceptable risk in the case of a claim?
3. Do I want to drive my classic car every day?
4. How difficult is it to find parts in the case of a repair?

Mileage is an critical factor for collector car insurance companies. They offer coverage for your classic car at a reduced rate because they require that your usage is limited. The average collector car insurance company allows for a cap of 2,500 miles per year driving for their insurance plans. The limited driving means a limited amount of exposure for the insurance company. Some companies, such as Sneed, offer unlimited driving privileges but impose other limitations, such as no driving to work or daily driving uses.

Antique Cars Are Risky To Cover

Standard car insurance coverage typically pays for repairs based on the industry standard prices established for your vehicle. This rate assumes the parts are readily available and can be purchased by standard processes. They are unable to guarantee that your 1968 Chevrolet Camaro will be repairable with orignal parts, as these are only available in limited quantities. To ensure your collector car is covered to the full extent of any damage is to purchase stated value insurance. Stated value insurance allows you to set a price to the value of your car, and in the case of a claim you can be sure that your vehicle is covered for damages up to that amount. This is ideal for rare vehicles or cars that are of special value.

The proper car insurance for your classic car is very important. Not only can you save money (up to 80% off a regular policy) but it will make sure your car maintains its value over the years.