If you are the proud owner of a classic car, you don't want to make the mistake of insuring it like you would the family mini van. If you were to get in an accident, you will certainly be sad for that selection. If your classic car gets totaled, you'll get the real money value for your car, which is usually pretty small.
With a classic car insurance policy, you frequently have to meet specific standards to qualify. You must have a minimum number of years of driving experience. You cannot use the car for business purposes.
One will be asked to verify that they have a different vehicle that is used on a regular basis. The car can't be driven in excess of a set number of miles annually and the vehicle must be a specific age. If you meet these criteria, then you may be able to purchase classic car insurance.
Still, not all auto insurance providers will insure classic vehicles. It is cheaper to insure a classic car than it does for a standard car. The preferred type of auto insurance policy for classic cars is an agreed value policy.
Before you buy a policy of this type, you must sit down with an agent and agree on a value that will be paid in the event that your vehicle is totaled. Get a price quote from the agent.
In the event of an mishap if the costs to your classic car are within the agreed upon value, your insurance carrier will compensate for the repairs. If the charge to fix your car is bigger than the agreed value, you will get your preset agreed amount. This is without question, the preferred auto insurance policy for a classic car.
Standard auto insurance is usually more expensive than the classic car insurance, but those companies have some criteria that must be met in order to qualify for their programs in order to get those good rates.
With a classic car insurance policy, you frequently have to meet specific standards to qualify. You must have a minimum number of years of driving experience. You cannot use the car for business purposes.
One will be asked to verify that they have a different vehicle that is used on a regular basis. The car can't be driven in excess of a set number of miles annually and the vehicle must be a specific age. If you meet these criteria, then you may be able to purchase classic car insurance.
Still, not all auto insurance providers will insure classic vehicles. It is cheaper to insure a classic car than it does for a standard car. The preferred type of auto insurance policy for classic cars is an agreed value policy.
Before you buy a policy of this type, you must sit down with an agent and agree on a value that will be paid in the event that your vehicle is totaled. Get a price quote from the agent.
In the event of an mishap if the costs to your classic car are within the agreed upon value, your insurance carrier will compensate for the repairs. If the charge to fix your car is bigger than the agreed value, you will get your preset agreed amount. This is without question, the preferred auto insurance policy for a classic car.
Standard auto insurance is usually more expensive than the classic car insurance, but those companies have some criteria that must be met in order to qualify for their programs in order to get those good rates.
About the Author:
Learn more here: Safe Auto Insurance and Really Cheap Auto Insurance. Chimezirim Odimba is an insurance expert.
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