Classic cars are desirable, collectable items and have eye-catching features that set them apart from the crowd. They are different from other types of cars in that unfortunately they attract a large number of thieves who are aware they can make a great deal of money if they can sell the cars on the black market. Whether you drive your classic car regularly or not it is imperative to get specialist classic car insurance to ensure you are properly covered in the event of an accident or theft. It is extremely important for a car owner to select the best insurance policy for their car as every classic car has different needs.
Classic car insurance is quite different from other car insurance policies as far as the payment that is made in case of any loss. A regular car insurance policy pays the owner an actual value of cash or standard value to the owner when a claim is made. This means that the insurance company pays the car’s depreciated value. In contrast, with an insurance policy for classic cars, the insurance company pays a pre-agreed amount of the car if there is a claim filed.
Other types of insurance policy are offered for classic cars which the owner does not actually drive. To work out the premium, the insurance company will need to get the car appraised. It is important to read an insurance policy you take carefully as the in order to qualify for a claim, the policy holder must have fulfilled all the conditions required by the insurance company.
With Classic Cars it is usually necessary for the car owner to keep the car in a garage so that its security and safety is ensured. If the car is being driven, then the driver needs to have good record of driving in order to get a fair priced quote. The car should be at least 15 years old to be eligible for a classic car insurance policy. Since many classic cars have great value, it is advised for the car owners to carry out extensive research before choosing an appropriate insurance policy.
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When you know that your automobile is properly insured by coverage against loss or potential damage, your pleasure of driving is enhanced. You will find various kinds of insurance policies to obtain this aim. Insurance coverage guards the automobile as well as the driver against every type of damage.
There are numerous insurance organizations in the market that provide different kinds of insurance policies with differing payment amounts according to the car type. As an example, there are classic and standard car policies for classic car and standard car models correspondingly.
Most of the people want to save their classic automobiles but in reference to covering them many individuals are not familiar with the options of policies. Standard car insurance policies are only designed to protect the standard cars and cannot be used to protect your classic cars. The main reason is these policies do not take into account the true value of classic vehicles.
There are various programs introduced by insurance organization that actually serve to the requirements of the classic car enthusiasts. This insurance coverage is actually provided at an agreed value basis. Many organizations that provide the classic car insurance coverage need that the automobile should be utilized only for recreational use like club events, pleasure driving and car shows. They also check that the car owner has other cars covered for everyday use.
As a matter of fact, standard family automobiles are driven more than classic cars, and due to this fact, insurance organizations provides various discounts for classic vehicles. Other fact that can get you a good discount is that many individuals who have classic cars are extremely careful to preserve their classic automobile, and usually keep their classic cars in secure place. The cost will decrease if you prove that your classic car is well taken care of and is not used for general purpose. Some people collect classic cars just for pleasure and participate in exhibitions and car shows, if you are one of them then classic car insurance will be even better for you. Insurance companies will offer a better coverage to you so that you can take care of your classic beauty.
If you’re car is more than 15 to 20 years old and it hasn’t been driven over twenty five hundred miles each year only then you can avail classic car insurance. As the models become scarcer the value of these automobiles differ dramatically, make sure you find a coverage that permits you to cover your car for a stated price. The better prepared an individual is, the easier it is to search the best insurance policy for your classic car. If an individual knows ahead of time what kind of insurance policy he wants and the coverage amount, it will not take him long to discover the best classic car insurance policy.