Archive for the ‘Classic Cars’ Category

Insuring Your Classic Car: 4

Wednesday, July 1st, 2009

collector-4A lot of components of the classic or collector’s car must be considered as well. In a lot of ways, classic car insurance can be similar to regular car insurance, because a lot of times, you need to have coverage for bodily injury, medical, liability, and things of that nature.

You may decide on an Agreed Value insurance policy, which is the best protection you can get for your classic car. You and the insurance company come to an agreement concerning the value of the car and you pay a premium.

Stated Value insurance is another policy. Here, you can state a value to your car that can be higher than its book value, but it cannot be the actual value of your car.

Actual Cash Value insurance is the least desirable, because it leaves most of the decisions in the insurance company’s hands.

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Insuring Your Classic Car: 3

Monday, June 29th, 2009

collector-3As briefly mentioned, classic car insurance comes with a lot of requirements and specifications, especially when you are talking about the car as a collector’s item. A lot of these restrictions have to do with the drivers. So, we are going to give those specs a more in depth look.

There is an age requirement. Teens are not allowed to have this type of insurance because drivers must be at least twenty five in some states and at least thirty in others. In all cases, a clean driving record is a must.

Mileage limitations represent another restriction. Usually they cannot be driven more than twenty five hundred miles a year. Storage is important as well — you better have somewhere to put your car, and you cannot use it to transport goods or even other passengers most of the time.

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Insuring Your Classic Car: 2

Wednesday, June 24th, 2009

classic-car-2No matter how they are classified, classic cars are an investment, and if you own one, then naturally you want to protect that investment.

You need to be aware of all stipulations, requirements, and everything in the fine print when it comes to a classic car insurance policy. Your car, for example, may not be allowed to be parked in either a car port or a yard. Fully enclosed and securely locked garages are necessary instead.

As the driver of the car, you will have to meet some specific and special requirements yourself. Your driving record should be clean and typically, you have to have at least ten years worth of driving experience.

Still, this is a great way to protect your investment, especially if you care more about your car’s value as a collector’s item.

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Insuring Your Classic Car: 1

Tuesday, June 23rd, 2009

classic-car-1A lot of classic car enthusiasts are not sure what they should do about insuring their classic or vintage vehicles. Typically, these cars have more value as a collector’s item, as opposed to their value as an actual vehicle. Still, owners of these cars certainly do want to protect that value.

The kind of insurance you get for a classic car is not the same as what you get on your personal vehicle.

The first thing you need to do is figure out if your classic vehicle can be classified as an actual classic car or as an antique. There are very different options associated with each classification.

You also need to think about exactly how you put your car to use and how often you do so. Under the typical classic car insurance policy, you will be allowed to drive your classic car to certain exhibits, parades, and other such events — but that means you can only drive a specific number of miles every year.

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Car Insurance for Classic Cars

Friday, September 19th, 2008

The top of the league, classic cars stand out remarkably in any crowd. These amazing cars with eye-catching features are sadly also most targeted by the thieves around the world. A highly priced fortune of yours requires an equally huge fortune to insure it. The aging car might not be a favorable proposition for any car insurance company. That may explain why most car insurance companies steer far away from even valuing these precious pieces.

Yet considering the time, effort and cost you have borne in owning the classic car as the pride of your herd, you need to take real good measure to ensure that all your investment remains safe for the future, and you getting special rates. You need to get the right classic car insurance that guarantees you an all-comprehensive and complete insurance for you car. Even if you seldom take your car out of the garage, it is still exposed to the same level of risk as any ordinary car. And the stakes are quite high for you considering the fact that a part of your fortune is at risk!

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