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classic collector’s insurance

Reasons to Have Insurance on Classic Cars

Any owner of a classic vehicle is going to be a car enthusiast. Car collectors love their vehicles and understand that they need to be well taken care of. This means regular oil changes, car washes and other maintenance checks. It also means that classic collector’s insurance needs to be purchased for each vehicle in the collection.

Classic cars are used for a wide variety of reasons. One person might like to drive his or her 1963 Corvette as the primary mode of transportation. Another person might like to speed down the highway on the weekends on his or her 1946 Harley Davidson motorcycle. Or there could be another person who only drives his or her Classic Ford Woody to and from car shows once a month. Regardless of how the vehicle is used, it is important to have insurance on it.

Classic collector’s insurance can protect any damages that could occur on the vehicle in an automobile accident. Policies can also be written to protect against damages that could occur at a car show. Additionally, coverage can include extra items such as accessories to the vehicle, towing insurance and personal injuries. No matter how the classic vehicle is used, it will not be well cared for unless it has its own insurance policy.

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classic collectors insurance

3 Factors that Raise Your Classic Car Insurance Costs

Classic collectors insurance has been helping those with a passion for building or buying classic cars protect these assets for decades. This is excellent, considering the huge variety of threats which classics can face on a daily basis in some areas. However, if you’ve been looking into investing in this service, the price can seem a bit steep, or simply unnecessary. The truth of the matter is that there are several different aspects that will impact the cost of insuring your particular vehicle.

  • How the vehicle is used. Is your classic sitting in a well-ventilated and safe garage, or are you still taking it out for a spin every now and again? The threats your ride faces greatly increase or decrease based your answer, therefore impacting the cost of insurance.
  • Submission into events such as auto shows can also impact the cost of insuring your ride. Regardless of how careful you are, there’s always a chance of injury occurring when your car is in a public space, and this will be reflected by the cost.
  • Additional accessories like memorabilia or ornaments that are a part of the car can raise the cost as well, as they provide more room for mistakes or damage to occur in some cases.

These are some of the greatest factors that impact the price of your classic collectors insurance, but there are several more conditions that impact the cost as well. Speak to a professional to learn more and get an estimate on how much it’ll take to keep your classic safe.

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classic collectors insurance

Things Brought Into Consideration When Getting Classic Collectors Insurance

You probably spent quite a bit of money to obtain your collector cars. It only makes sense to ensure they remain protected by acquiring classic collectors insurance for your vintage vehicles. Every policy is different, and certain items will need to be considered in order to determine what you need to pay.

What Constitutes “Classic”

Everyone has their own definition of what is considered a classic vehicle. Some agencies may only consider vehicles that are at least 25 years old to be classic while others only require a vehicle to be 10 years old. Of course, the make and model of the vehicle also needs to be considered.

Any Modifications

Is your vintage car exactly the way it is when it rolled off the lot or have certain modifications been made? This may affect the kind of coverage you are able to get. When you speak with an agent, you will need to bring to light what alterations have been made, if any.

Where It Is Kept

This may seem minor, but whether you have a garage can play a big role in the amount of coverage you receive. Many insurance companies want to know where this vehicle will be kept most of the time.

Bring as much information as you can to your consultation so that an agent will be able to help you get the best classic collectors insurance for your needs. Afterward, you can drive around with peace of mind.

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