We’ve all been there—new car with a fresh fragrance, slick paint, and flawless tires. The buying of an insurance policy is the natural next step, and it at times can become tricky or frustrating to pursue. But what about cars that are slightly different? What if your car’s paint isn’t fresh and new, but rather time tested and long lasting? What if your car doesn’t have a new car smell, but rather a nostalgic and brilliant scent that in itself embodies decades of time?
Just because a car isn’t new doesn’t mean a car isn’t expensive. And this extends to insurance policies. An antique or vintage vehicle may have even more value than many brand new models, and the insurance costs and options are often quite reflective of this fact.
Finding and selecting the best antique, classic or vintage car insurance to satisfy your needs is vital to safeguarding and providing protection for a very important investment. These vehicles, being special by nature, have an array of unique accommodations and areas to consider.
So whether or not you’re familiar with insurance or not, there is no harm in reading up on the specifics of vintage car insurance. Below we’ll list just a few helpful instructions to assure you make the wisest possible decision pertaining to your vintage vehicle insurance policy.
1. Make Use of some Insurance Policy Restrictions
One important thing to consider is how your vintage car insurance policy covers you, and how it compares it your actual use of the vintage vehicle in question. The more you do with your ride, the more coverage you’re going to need. The inverse is true as well.
If the use is minimal, primarily to and from local community events and vintage car showcases, employ a policy that restricts to those particular uses. This will prove satisfactory for your limited usage and plenty more affordable.
On the other hand, if you are tad more willing to take the car out on the town, run errands, or even drive rather long distances, you’ll need to choose a policy that accommodates for this xxtensive use. Needless to say, a vintage car policy will not need to cover everyday use through all four seasons, but with more frequent use, a less restricted policy will definitely need to be selected. Consult an insurance agent for more information on specific policy restrictions.
2. Know the difference between a Stated and Agreed Value
One important thing to understand with high price vehicular insurance like a vintage car is the distinction between a value that is “Stated,” and one that is “Agreed.” Inquire from your agent how the insurance company you are using classifies these two terms, and which one remains better suited for your car and individual circumstances.
It’s much better to be safe than sorry, and know your value heading in—especially having assurance that value was properly calculated.
3. Rules that affect where you park and how you store
When looking through insurance policies, keep an eye out for restrictions on where you store your car and its parking location. Some of these requirements may necessitate you keep your vintage vehicle incredibly secure, stored in a locked up garage or otherwise kept secure from outsidethreats. You may be forbidden, for instance, from leaving your car in the middle of a parking area as you leave it alone for extended periods of time.
4. Is your “Vintage” car a “Vintage Car”, and is it even eligible for vintage car insurance?
While it may seem simple, this question could save you a lot of time and energy when answered.
While your cool, old vehicle may strike you as hip and “vintage,” whether or not it officially qualifies as a vintage car (for insurance purposes) may be another story. This is an area very important to check up on, and it can be researched rather easily. Simply consult the insurance agent and ask whether your model is defined officially as eligible for antique car insurance. Some require a car be older than 25 years old, or ask that a vehicle was produced between two years or specific dates. Most of the time, these numbers vary from company to company and many classic car insurance specialty companies offer their own definitions.
5. Discover your objectives
A helpful tip for ensuring the coverage you want and need is to head in with some objectives for a prospective policy. For instance, you may wish to keep your old mechanic if a repair is necessary. This is something to make sure is included within your policy parameters if you have a trusted professional you’d prefer to remain with. Like discussed during our “Stated Value” tip, do what you can to assure your vehicle is insured for what you truly feel the car is worth. Is coverage provided for damage at special interest car-shows? Are premiums in some ways malleable to how much and often the car is driven? If so, it should be appropriate and applicable to your level of use.
So in close, just keep in mind that there are varying types different plans, rules, rates, and sorts for your potential coverage. If you’re ready to get serious about vintage car insurance, make sure to do some serious homework, doing research into individual companies and their policies. Costs are of course a factor, and probably a big factor, but it should be kept relative to good service.
Make sure first and foremost you are getting a good value, and that high prices are justified by quality service. It’s like anything else, you’re looking for a good product here, and maybe it’s more expensive than inferior ones—but you’ve got an investment to secure. If you the call service for customer support is good, claims are handled professionally and well, and the staff seems well-versed in specialty vehicles such as your own, you may have found a great company with which to do business.
If you’re interested in getting the best insurance for your car, iron out the details and head in ready to purchase the best product at the best value!