Classic Cars

April 26th, 2010

When you are shopping for insurance for your classic car, you have to remember that your car is unconventional and different from the cars that populate the roads of this country.  Your car is an investment and one that you have probably spent much time restoring and repairing.  Therefore, make sure you take into account certain factors when buying insurance.

• Make sure you have your classic car appraised prior to insurance shopping.  This will help you determine its actual value.
• Request “agreed value” coverage from your insurer.  This means that you are asking for your car to be insured at market value at the time the policy is written, not the market value at the time a claim is processed.
• Keep pictures of your car at the time the policy was written if you are able to get “agreed value.”  Make sure all terms are in writing.
• Depending on your classic car driving habits make sure you get a policy that suits your needs.  If you drive your car sparingly, you can probably save money by asking for a mileage limit.
• Get all restrictions to the policy in writing and stay aware of changes.  This will reduce your chance of suffering through a rejected claim.