Finding The Right Car Insurance For Classic Cars
If you have a classic or vintage car your insurance needs are somewhat different for it than for your daily driver.
One consideration is the value placed on the car by the insurer. The range of value placed on the classic car can be huge, and this valuation will determine your payout should the car be totaled or stolen. You would want to compare what the valuation will be from each insurer to the actual value that you can determine for the car. You might need an appraisal to tell you what this actual value is. Alternately, you can seek out sales of comparable cars on internet classifieds, and establish a value from these. The asking prices and actual selling prices will vary, but you should be in the ballpark as to what the amount is.
An experienced insurer of classic and vintage cars should have a good idea of what the above mentioned values are.
You also need to consider how the insurer will allow you to use your car. The insurer may stipulate that the car is used only for show purposes, or they may have a clause restricting the annual total mileage put on the car. It is not uncommon to see this, and you should be comparing apples to apples when you compare a few different insurance companies.
Classic car insurance must be flexible so that if the market changes for the car, the value will reflect that. Also if damage occurs to the car, will the insurer allow for OEM parts if available? Will they let you pick the body repair facility, or will you be restricted to using one they are connected with? This could be very important if repairs are necessary due to accident or vandalism.
Insurance comparisons should be made with some regard for the premium, but only when you are satisfied that your classic baby is truly well covered!More info here: Classic car searches ‘increase’