Insurance companies that cover classic cars don’t really understand the needs of antique car owners. They don’t understand the daily car usage of Joe Public. Everything must fit in a standard category. Car value decreases relentlessly over the years. They start to lick their lips in anticipation of a big fat bonus check if you make any changes to the car.
What can you do if you feel the need to purchase a vintage motor vehicle, hot rod or just want to make your ride the talk of town? There are companies that specialize in this type of work. They understand the needs of car collectors and are passionate about keeping them satisfied with the products they offer.
Classic car collecting has one of its main advantages: your vehicle’s value will increase over time. This is exactly the opposite of what happens in the regular car market. Classic car insurances use a system that allows for an agreed valuation. You can determine the value of your car. You might have spent significant money on the engine or body design, or because the car is historic. This could make it more valuable. This must be agreed upon with the insurer. You can’t just make up the car’s condition or overstate its features. As part of the valuation process, you may be required to take photos of your car.
However, this doesn’t mean antique car insurance will be more expensive. Insurers know that owners of such vehicles are serious about their investments and will drive their cars with care. These vehicles are rarely used for their daily commute to work by people who own them. They are often kept in a garage until a special event occurs, then they are lovingly displayed in all their glory.
You should consider other factors when selecting coverage in this area. There are coverage options for those who plan to show their cars at events. You can also get coverage for international travel and touring. It may include shipping costs to the destination country, spare parts and labor, as well as trip interruption.
There may be restrictions from insurers on how much you can drive this vehicle each year. This restriction is likely to prevent you from using the vehicle as your family’s car. Others have no restrictions. This can be a great bargaining tool to keep your insurance costs down if you know you will only drive a certain amount of miles per year.
Instant coverage is available for those who suddenly feel the need to purchase a car. You can buy the car, drive it home, and then worry about the final insurance costs later. This is a great feature, as many vehicles are purchased in the moment of clarity when an offer is made to them.
It’s never too late for you to start your own collection. At one time, I owned 2 Landrovers. I wanted a car older than me, so I bought a 1956 series 1 Landrover. I had also owned a 1964 safari long-wheel base model. This was my primary vehicle, as the insurance for unlimited mileage was much cheaper than regular insurance on a modern car. You should not let fear of expensive antique car insurance discourage you from starting your own collection.
