Best Car Insurance

Owning a prized possession such as an antique car can be the pride of any automobile collector. However, owning an antique car comes with the responsibility to protect and preserve its value. As the cost of replacement parts would be too expensive in the event of a mishap, an antique car insurance policy can protect your investment.

Many owners of collectible cars invest in special antique car insurance to protect their vehicles from unexpected accidents or damages. If you love the feel of showing off your prized possesion or you just enjoy cruising around to flaunt an elegant machine from yesteryear, an antique car insurance policy will help you preserve your baby.

Typically, your insurance provider must classify a vintage vehicle under their antique status in order to qualify for antique car insurance rates. Age of a particular vehicle will usually determine the classification status, usually cars 25 years and older can be termed as ‘classic’, while cars over 50 are generally regarded as antique. It is possible that your state has age regulations that differ from your insurance company, in that case your state rules override the insurance company.

Rates for antique car insurance will vary depending on several factors, including your use of the vehicle, where you store the vehicle and the number of miles driven in a particular year. Some policies may restrict the number of miles you may drive the vehicle in order to minimize the liability of an accident. Using the car for pleasure will result in a higher premium than if you only use the car to display in antique and classic car shows.

Even though your insurance provider may write your policy, it might be a better option to choose a company that specifically sells antique car insurance. There are many resources available to find a credible insurer. You may want to refer to a car collectors club for recommendations on choosing a respectable insurance provider. In addition, you may find several online sites that specifically deal in antique car insurance. It is wise to thoroughly investigate these websites to determine a company suitable to meet your needs.

With collector car insurance, you will be protecting your assets and preserving a part of automobile history. In case of an unfortunate incident, with the right coverage, you will be able to maintain and restore your car to preserve its genuine beauty.

Technorati Tags: antique car insurance, classic car insurance

Owning a classic car may require you to purchase a special type of classic car insurance. Classic car insurance is not a standard type of coverage and has special protections for your investment. However, classic car insurance providers have certain qualifying factors before a policy for your vehicle can be underwritten.

In most cases, a classic car, as defined by the classic car insurance industry is one that is more than 15 years old. However, a few states define a classic car as 25 years or more, checking with your local DMV may help to clarify the age in your state.

The insurance companies have stricter requirements on classic car insurance than they do on regular vehicle coverage. In addition to the age of the vehicle, insurance companies will require several other conditions to be met. The age of the driver, his driving record (with a minimum of years driving), storage of the car, and limits on annual mileage are all additional stipulations. In addition the insurance company will negotiate an ‘agreed upon’ value for your classic car .

Most states allow the insurer and owner of a classic car to decide on an agreeable value of the car. You and the insurance company will set a value on the classic car that will become part of the policy. The amount is the total loss value of the car in specific monetary terms. This is much different from a standard policy in which total loss is determined by fair market value or the blue book value.

In regards to the age and experience of a driver, most companies will require a driver be at least 25 years old and have a minimum number of years driving. Naturally, the insurer will also request a DMV report before writing your classic car insurance policy.

In addition to the age and experience of the driver/owner, a mileage limit will be assessed on the classic car. Insurance providers vary on this limit, some allow up to 5,000 miles per year while others may permit more. There are also options to select less miles (as low as 1000) which will reduce your premium amount. Driving your classic car to shows, club events and classic car activities are generally not restricted, however daily commuting and commercial use is prohibited in most cases.

Finding suitable classic car insurance is best handled by using a company that specializes in such insurance. Generally you will receive a better rate and the company will have a better understanding of your needs as well.

Technorati Tags: antique car insurance, classic car insurance, collector car insurance