Get the Best Out of Classic Car Insurance

Classic cars are admired all around the world. There are many car enthusiasts who dream of owning a true classic. No matter where such enthusiasts find themselves, they are always on the lookout for a vintage car. Even a vehicle that is in pretty grim condition will not be overlooked. It is considered a most enjoyable undertaking to restore such a car to its original state. This takes an enormous amount of time and money. More often than not, the car enthusiast spends hours searching for authentic parts and accessories.

In a monetary sense, it’s easy to understand why such a vehicle must be insured. It is true that a restored classic car is an investment because it will increase in value over the years to come. However, to a car enthusiast, who has made the restoration a special task, knows an ordinary insurance is not good enough for his or her pride and joy. It is necessary to opt for vintage car insurance.

If you have restored your vintage car you must find out if it qualifies as a classic car. This classification usually goes according to the condition, model and age. If you compare a number of insurance companies you will find their classification rules differ. It is best to contact an insurance provider that specialises in vintage cars. They have the expertise to draw up a policy to take care of every aspect of a specific specialist car.

Of course, not every car enthusiast goes to all the trouble of restoring a classic car. You can simply go out and buy a classic car already in perfect condition. Such a car is a lot easier to insure. You simply find out from the previous owner how, and who, insured the car and you get all the details. However, it is still necessary to ask the insurer to confirm the policy provides sufficient cover for your vintage car.

Owning a special vehicle does cost more and you will pay more for vintage car insurance. One of the factors that determine how much your monthly premium would be is the value of your vehicle. The more valuable your vehicle the more you will have to pay for insurance. The more rare or collectible a car is the more money it is worth. If your car is rare it will probably be hard to find car parts. This is another reason for an insurance provider to raise your monthly premium. Due to the cost involved, there are owners of classic cars who consider taking out standard insurance.

The reason you must not take out standard car insurance is it will undervalue your classic car. You and the insurer come to an agreement regarding the value of your car. Not only will your car be sufficiently covered but you will also be reimbursed for any costly repairs that may come up in future. This type of cover is usually only provided by a company that specialises in classic car insurance. Some of the large insurers do have a section dedicated to vintage cars.