Do you know that you can get special value when you shop for classic car insurance?
Vintage or classic car insurance is not just car insurance for old cars. It’s classic insurance for a collectible asset that appreciates in value over time.
That appreciation, combined with the limited driving and extra care given to these vehicles by their proud owners, qualifies them for reduced insurance rates.
How To Be A Smart Classic Car Insurance Shopper
Remarkably, many collectors do not realize this and pay much higher premiums than necessary.
So below are some tips on how to be a smart insurance shopper.
#1). Shop With A Speciality Insurance Broker
According to NADA’s Collector Insurance Guide, they should have a strong network of speciality repair and parts providers and knowledgeable claims specialists. They should be able to advise you about valuation and about any use restrictions mandated by the coverage.
#2). Shop For Service, Not Rates
Unlike regular auto insurance, you probably won’t find any discounts for owning more than one vehicle. In fact, most policies assume that you own a regular car for daily use.
#3). Request Agreed Value
This is even more essential if you own a high-value vintage vehicle, one manufactured between World War I and 1930 a period of severely curtailed automotive production in the U.S. Valuations on these cars tend to be quite high and can appreciate rapidly.
#4). Pay Attention To Restrictions
#5). Know What You’re Buying
Here are some of the benefits of getting your classic car insured through a right broker:
- You will get the coverage of your car for its actual worth in the current market value.
- They thoroughly check the background and eligibility of both car and the driver before covering it for insurance.
- They consider the modifications done in the car as value added to the car and thus give you the required advantage.
- They consider a huge variety of cars as classic, so it is easy for you to get insurance for your car.
- A clever and speciality broker will help you get your classic car insurance at low premiums.
Conclusion
As a classic car enthusiast, you already appreciate value. Classic and vintage cars not only provide entrée into a world of pleasurable get-togethers with other enthusiasts, but they appreciate in tangible financial value with each passing year!
So if you weren’t aware that you are entitled to special value in your classic car insurance, contact a specialty broker now and comparison shop. You could save yourself a lot of money AND get better protection for your prized collectible.
