Antique Car Collector Insuranse
ADDED
05-28-2007
Buying insuranse for a classic or collector car is often confusing. There are always a lot of questions about what type coverage these vehicles need.
Less than half of the collector cars on the road are insured through specialty programs. Most antique car owners cover their cars with the standard insuranse which covers all cars. Antique car insuranse is available and is usually cheaper than your standard insuranse.
When searching for a collector car policy you should investigate what restrictions are placed on the policy. Some policies will only allow you to drive your collector car to car shows and parades. Some people like to take their collector out for an afternoon drive so you need to find a policy that will allow some personal usage.
Most specialty policies will not allow you to use your collector for commercial use such as the transportation of goods, for racing, or for your regular transportation.
When placing a value on your classic or collector, there are a few factors to consider. If the car is original the value will be different from one that has been restored. Your best bet is to keep all receipts for any parts or repair you have done. This will help in determining the current value.
The bottom line is this; specialty insuranse can save you some money when you get ready to insure that classic. |
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