American Classic Car Insurance
Picking out the most suitable American classic car insurance can be a difficult thing to do if you don’t know what exactly you are looking for. There are a couple of things that you should keep in mind when searching for an insurance policy for your hot rod, muscle car or whatever American classic car you have in your garage.
First of all, you need to make sure that you can get insurance coverage for exactly the way you use your vehicle. If you are using the car only for driving it to and from classic / antique car shows, get an insurance that restricts you to just this criteria. The next thing to do is to ask your insurance agent about the “stated value” and the “agreed value” for the classic car you own, the main differences between each of them and which is more suitable for the type of driving that you do. The “agreed value” basis lets the insurance agent and the owner of the classic cat set a value for the vehicle that is not necessarily the market value.
You need to know that a classic car is defined as a vehicle that is at least 15 years old, it is used as a secondary vehicle, maintains limited miles around 2,500, is in a good condition, it is not used for business purposes and is kept on a private land or in a garage. Some of the insurance companies will only provide services for owners who are over 21 years old, while other firms will only insure specific makes and models.
There are some insurance companies that offer to customers tailor-made policies designed for the classic cars that are not driven every day, while other firms require the vehicle to stay within a certain mileage per year. In addition, some insurance companies arrange policies based upon the age of the car, while others require that the car should be kept either in a garage or an enclosed and locked space. If you are a member of a classic car club, you might be eligible to benefit from certain discounts.
Needless to say, you should maintain your car in a good condition if you want to get low rates for the insurance. The classic / antique cars that are in a poor condition expose the insurance companies to greater risks and as a consequence, the insurance coverage for the car will be significantly overpriced. Although at first it might you might think that it is a little bit too expensive to maintaining the state of your car in a good condition due to the labor and the limited availability of parts, it will definitely provide significant savings on the amount of money necessary to take up classic car insurance.
Just like with other types of insurance, getting American classic car insurance quotes online is very easy as there are plenty of sites where you can find out approximately how much it will cost you. We advise you to visit AutoTrader Classics and Hemming’s Classic Cars where you will be able to browse their inventory and find out some pricing information that will be relevant for the type of classic car that you own.
You should also check with your current insurance agent as you might be eligible for a discount if you buy a second insurance policy from the same company. However, we advise you to get in touch with a company that specializes in offering insurance for classic cars as they know the true value of the vehicle and will most likely offer the best deal for you.
Source: AutoTraderClassics, Hemmings
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