Antique Car Insurance Guide

Having an antique car can be a hobby or a unique way to make an investment. If we know how to treat such car, it could worth a lot more than its original price. But taking care of an antique car takes a good skill, a lot of hard work, and lots of money. If you think you have succeeded bringing your car to its golden era, all you have to do is to protect it with an insurance.

Insuring an antique car is not the same as a regular car, it has its own uniqueness that you can’t compare to other cars. This type of auto insurance also oftenly known as ‘collectors auto insurance’. Not every auto insurance company provides protection for antique cars, it used to be provided by insurance companies which specialize in antique car insurance, but today many mainstream auto insurers begin to provide this type of insurance with a tailor made quote. Most policy holder choose to insure their antique cars in a well known commercial insurer with a large customer base, these are usually trusted and old firms with good history record. With this type of company, the premium can be pretty high, but most of the insured feel that it’s worth it with the coverage they get. with this kind of company the car owners can also insure their other regular car and even sometime in the same policy.

To buy a policy from an independent auto insurer might cut the premium cost as long as it meets your needs. An insurer like this can provide protrection with a lower premium, but it won’t take other type of vehicle. some of them even only specializing in certain type of classic vehicle.

In a regular car insurance maybe we use to hear the term of On The Road value, which is the market price for the insured vehicle as the basic premium calculation. In antique car insurance the term is no longer used, the value of the car determined by either ’stated value’ which is set by the insurer or ‘agreed value’ which is set by an agreement between the insurer an the insured. Since the object is a classic car which is no longer in the market, inflation could give a very bad effect to the car value, so there are some insurance provider gives inflation guard for antique car.

Most auto insurer will give mileage limitation for antique car they cover. Since the more mileage means the more often the car is out on the road and that means bigger risk. Bt if you look carefuly there are some insurers that give no mileage limitation for antique cars.

There are also a use restriction, it determines the coverable use of your car. It will be stated in the policy for what use the car will get the cover, so if you use your antique car a lot you should really check on this restrictions in the policy. Beside that, there is also what so called parking and storage restrictions. Usually some policies require that your car should be placed in a locked garage or inside locked trailer when not in use, or not to be left unattended in a parking lot.

Here are things to consider when looking for an antique car insurance :

* Always go with a reputable company with long experience and good history record.
* Get a professional appraisal to understand how much your car is worth if you have to, before comitting to an antique car policy.
* Manage to set the value of the car through an agreed value. That’s because you might have put lots of money for spare parts or other work into your car that could make it worth a lot more than its original value.
* Find a policy which gives you the maximum mileage limitation, because if something happen when you have crossed the mileage limit the insurer might drop your claim. Try to find an insurance provider which gives no mileage limitation.
* Since the premium costs a lot higher than a regular car, you can lower the premium by increasing your deductible above the standard limit already set.
* Understand carefully about the restrictions given by the insurer such as use restrictions or parking and storage restrictions, try to negotiate if you have any objections for the restrictions given.
* Insuring your antique car to an independent antique car insurance might be a good choice as long as the coverage meets your needs since it can save money. Just make sure the company has a good reputation and it can insure the type of classic car you own.
* Try to find an insurance company which gives the most complete coverage and services that includes phone help, free choice of repair shop, inflation guard, spare parts coverage, higher limits on liability, towing and labor, trip interruption, etc.

Sometimes an antique car is not just an investment object or a hobby for the owner, but oftenly it has a sentimental value which is priceless and irreplaceable. Having an insurance to protect it can give you a peace of mind and even if money cannot replace the emotional bond you have to that car, at least you have something in return for a lot of hard work and money you have put into the car.