Buying insurance for a normal car is a pretty straightforward procedure. You simply call the agent or go online, enter some basic information about the type of vehicle you own, how many miles you drive it and what kind of coverage you want. In a matter of minutes, you will have an insurance quote, and you can make your buying decision based on those criteria.
That may be fine for your daily driver, but what about the classic in your garage? How can you ensure your classic car is protected, and that you can afford to fix it should the vehicle you love be damaged in an accident?
Buying insurance for a classic car is not the same as purchasing coverage for a normal sedan or SUV, and a single mistake could leave you with some serious out of pocket costs. Here are some tips for covering your classic.
Start With a Quality Car Appraisal
If you want to know what a normal car, truck or SUV is worth, you can simply look up its value online. With a single trip to the Blue Book website or a similar site, you can see an updated value for the vehicle you are insuring.
Valuations are more difficult, however, for vehicles deemed classics and antiques. The value of a classic automobile or antique pickup truck will be influenced by a number of factors, from whether or not all the parts are original to the quality of the paint job to the overall condition of the vehicle. If you want to make sure you have the coverage you need, get a quality appraisal before you start shopping for insurance.
Seek Out a Classic Car Specialist
Ordinary insurance companies are fine for daily drivers and brand new automobiles, but insuring a classic or antique vehicle is another thing altogether. If you want insurance that values your classic as much as you do, you need to seek out a specialty insurer.
If you are part of a classic car club or similar organization, ask your fellow members for recommendations and the names of companies that can insure your special vehicle. The personal recommendations of fellow classic car enthusiasts counts for a lot, and this insular world is filled with men and women who are anxious to share their experiences, both good and bad, with various insurance providers.
Think About Your Insurance Deductible
Buying insurance for a classic car may be a specialized undertaking, but the inverse relationship between deductible and premium is still in place. Whether you are insuring a 1950 Ford or a 2010 Chevy, accepting a higher deductible is the surest and fastest way to lower your monthly premium.
You will want to think carefully about the deductible when choosing coverage for your classic. When you talk to the agent or go online, ask for several different quotes at various deductible levels, so you can compare your options more easily and make a smart decision.
If you own a classic or antique car, you have an important decision to make, and a substantial investment to protect. Insurance coverage is an absolute must for owners of these special vehicles, and the more you know the easier it will be to find the best option at the lowest possible price.
Speak Your Mind