The process for finding classic antique discount auto insurance is a little different than when you try to find auto insurance for your regular use vehicle. Plenty of owners of antique cars rarely drive them on a regular basis. Instead, these automobiles are kept lovingly covered and pampered in a garage until there’s a classic car show in town or there’s an antique car show the owner likes to travel to in order to show off his or her collectible.
What’s the difference between regular discount auto insurance and insurance for an antique car? The way insurance is figured is usually by the age of the car. Meaning – a perfectly restored 1966 Ford Mustang would only be considered an old car and you wouldn’t get the right value back for it in the event of an accident unless you had the proper type of Auto policy in place that covers antique cars. Your regular policy won’t cover the actual value it would cost you to replace your treasured car.
With classic antique discount auto insurance, what you’re looking for is what’s known as ‘agreed value’ for the automobile. That means that if your classic auto is totally demolished in a wreck, you’ll get the value of the car in reimbursement.
Does this mean that owners can pull any amount out of thin air and set it as agreed value on their policy?
No. In order to get this coverage, your car will have to be appraised. Not by you, your thoughts of what the sentimental value of the car is but by a professional car appraiser. What he’ll look for will be the condition of the vehicle, both inside the car and out, the mileage on the car and any extras you may have done to the car.
What the agreed value can do to benefit you is that you’ll get the market value for your car. You’ll receive what your car is actually worth if you could sell it on the market. Without agreed value, you’ll lose a substantial amount of money on the car and might not be able to afford to replace it.
Some companies that supply this type of insurance have certain rules they go by when accepting clients. Many of them won’t offer policies to anyone under a specific age and they won’t give policies to those who drive the antique as an every day car. The policies for these types of cars often carry strict requirements in order for the vehicle to qualify for coverage.
If you’re lucky enough to own a beautiful antique car that you’ve labored diligently to restore, you want to choose only classic antique car insurance to protect your pride and joy. When you comparison shop for a policy, be sure you read all the fine print so that you can rest assured your car is in good hands.
Read more articles about discount auto insurance.
Learn More About Discount Auto Insurance: