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Classic Car Insurance: What You Always Wanted To Know

by Daniel Wright

Restoring a vintage car is a labor of love. While admittedly there are some that do this as a business, all of them, those that restore and collect vintage cars, are driven by their passion. They are fueled by their desire for vintage cars and watching them return to their full glory is what makes them happy.

Ownership of an antique auto sets an image of glamour, prestige and a status symbol that shows you can afford its high maintenance (think Jay Leno). Aside from having the money to pursue such an endeavor, you should also have the passion for it. You need to be very patient when restoring a vintage car.

Once you restore a classic auto, there is a temptation to drive it periodically, except for those who choose to store it to ensure there is no degradation when it is presented at vintage auto shows. It is only natural to take extra care inasmuch as the time, expense, and effort involved to restore a car. If after all that, your auto would be damaged or stolen, you would be really upset.

This is where having insurance comes in. But unlike regular car insurance, vintage car insurance can be different. One thing that collector's like is that classic car insurance is relatively far cheaper than regular car insurance. You have to consider though that this insurance policy is cheaper because they only cover certain mileage. There are also conditions like parking garages that are considered.

The cost of insuring a vintage car depends on various factors, including the make, model and market price of the car, with higher valued cars incurring higher insurance premiums. It's important to note that there have been instances in which insurance companies have not paid claims for the complete value of vintage cars, so it is important to make sure your policy guarantees the car's value before you sign the policy. A guaranteed valuation clause will cost a bit extra, but in the long run is worth the additional charges, should the car be damaged beyond repair or stolen.

Allow yourself plenty of time to investigate the various options available when shopping for vintage car insurance, and don't allow yourself to be persuaded to buy a policy from the first agent you speak with. Browse through vintage car magazines and check the yellow pages for companies that insurance vintage cars. Before calling or visiting an agent's office to get a quote, be sure you have all of your car's information readily at hand. Then be prepared to spend some time comparing the quotes you get from various companies.

You can easily find insurers who provide coverage for classic cars on the web. There will be plenty of companies that will offer great rates. What's more, you won't have to waste time actually visit an office to get quotes. In just minutes, you can acquire a quote from any number of providers and do some comparison. In addition to rates, however, you need to look at coverages and exclusions. Using the web to shop for policies means you will not feel pressure to buy from any one company.

Request multiple classic car insurance quotes online with one easy form at Affordable-Auto-Insurance-Quotes.com. It just takes about four minutes to complete our car insurance quote request form. A few minutes now can save you thousands of dollars over the coming months on your vintage car insurance.

Published February 5th, 2008

Filed in Finance