Cheap Classic Car insurance
by Shawn Low
If you're in the market to buy cheap Classic car insurance, you may be wondering what your options are. What you and I see as a classic car, when we look for insurance is, to most car insurance companies, just an old car worth very little.
Now, say you have an "old" 1970 Ford Mustang with a sportsroof. Your local insurance guy looks in his book and says, you know, that thing's over 40 years old, so the policy is pretty cheap.
And you're thinking, wow, cheap Classic Car insurance. But what value would your Mustang have if your car gets into an accident and needs to be repaired?
Does the fact that you own a very cherry, 1970 Mustang Boss 302 mean the same thing to them as it means to you and other collectors?
Probably not. Maybe a couple thousand bucks. Not a good thing, considering that your wheels and tires by themselves are worth more than that.
So it's important to evaluate any car insurance quote you get.
Agreed Value Insurance
Buy your Classic Car insurance from a company that will cover you on an agreed value.
Some auto insurance quotes, will require an appraisal of the market value of your car and some will allow you to specify and agreed value.
The amount can be of your choosing, so long as you agree to pay a premium based on that dollar amount.
How often do you drive your car?
If you only drive your classic car occasionally, you may be able to reap the benefits of short term insurance. In the past, I've used day plates (one or more day's insurance coverage only) to drive vintage cars I've owned, If I only ran them a few days a year.
In my area, the maximum number of days that made sense to have it on the road, was 10 days a year. If I'd planned to run the car more than that, I found other alternatives to still end up with cheap classic car insurance.
Collision and Comprehensive Insurance
If your classic car is involved in a collision, and you've settled on the agreed value of insurance, then an accident will be a lot less traumatic. Before that happens, however, its important to figure out the right deductible for you. While cheap Car insurance is the goal, you'll need to weigh the risk and the benefits. For more in depth information,
here's a detailed guide on how to buy classic car insurance.
The great thing is, when you're ready to buy car insurance, you'll have everything you need to know to get the best priced insurance and the right coverage for your classic or vintage car.
A Word About Online Car Insurance
I used to worry about online car insurance. Was it safe ? Is is secure? Is it really cheaper?
I'm happy to say, I finally took the plunge and this has been the best insurance choice I've ever made. Not only does getting the policy online make it easy, but my direct car insurance company gives an additional 10% compared to buying it over the phone.
It's even saved me money on my house insurance. Having the home policy combined with my car insurance, saved me another 10% for this coverage.
Dare to compare! You never know what good things you may find.
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