There are many things you can do in order to get classic car insurance at a low price. Let’s assume you own a 1950s car that will be driven around for at least part of the year. But you don’t have any idea if it is worth insuring. Classic cars will be more costly than regular cars because the repair costs can sometimes be quite expensive.
Why would I insure my car if I only plan to drive less than 1000 miles per year? These are just a few questions that classic car owners have to answer when they need insurance. It is not common knowledge that insurance policies for classic cars and older vehicles are different. But there are significant differences in the way they are set up, and even the cost.
When looking for affordable classic car insurance, the first thing you should do is to find local insurance companies that offer classic car coverage. This is crucial because an insurance company that offers standard automobile insurance will most likely give you a quote. A company that offers classic vehicle coverage will give you the best rate. The price you pay for your car will be equal to its current value, minus any depreciation. This is the most common type of insurance. This means that the price you pay for your car will go down the more you use it.
Many insurance companies that insure classic cars will not offer you the opportunity to have a collision or comprehensive deductible. This is because you cannot reduce your rate by changing the coverage. There are however, auto insurance companies out there that will allow you to select how much in deductible you want, that’s why it is important to always shop around.
Ask these companies to quote you with higher deductibles if they are available. This is because most classic car owners have another vehicle they depend on for transport, so a higher accident deductible will not be a problem. The likelihood of an accident decreasing if you don’t drive your vehicle as often, you can save money by having a higher deductible than you might ever need. Important to remember is that you should only increase the deductible if it is feasible.
One of the best things about classic auto insurance is that you can save money by having flexible coverage. You can customize your policy to suit your needs, unlike standard policies that only offer discounts for low-mileage drivers. Because they are strict about car conditions and prevent damage, most classic car owners limit their vehicle’s mileage to less than 1,000 miles per year. These people will find classic car insurance policies to be more affordable than those who drive a lot. The people who drive “frequently”, are those who put just a little over 5,000 miles each year on their classic cars. (These mileage numbers would allow one to qualify for a low mile discount without any problems) This is nothing. This means that they will be charged a bit more because they are driving more often than others.
The safety of your classic car can also help to lower the cost of your insurance policy. You don’t often see classic cars on the roads, so these vehicles are less likely to be the most susceptible to theft. Insurance companies offer lower rates if you keep your car safe from theft. You should keep your classic car in a garage. If you park your vehicle outside, an alarm will be required. A wheel lock is a good idea.
Classic car insurance policies don’t cost much and can be added to standard policies in certain cases. Your policy will be cheaper the less you drive. Show your insurance company that safety is your priority. They will be more than happy to reward you. You should shop around for the best deal. Never try to insure your classic car under a standard insurance policy. You will end up paying twice, or even three times, the cost of classic car insurance.