Insure Your Classic Car: Get the Coverage You Need
It does not matter if you own a classic Chevy Stylemaster, a Buick Roadmaster, or Chrysler Airflow, you will need to insure the car. Insuring a vintage car is a bit different than insuring your daily automobile. Instead of simply adding your classic car to your regular auto policy, it is worth your time and money to investigate appropriate vintage auto insurance.
Not every major car insurance company will insure your Chevy Stylemaster or your hot rod Lincoln. You might have to shop around for a company that covers vintage automobiles. In most cases, everyday cars are insured with the understanding that the car will depreciate over time. When it comes to collectible, vintage cars like a Mercedes Gullwing, those cars will appreciate in value. You will want the appreciated value if something happens to your 1958 Corvette. A traditional everyday car policy will not cover the increased value of your special car.
When you get a classic car insurance policy, it will be based on the value of your car. You will need to do some research and show proof to your insurance agent so you get the coverage for the appropriate price of you car. It might seem silly to give an insurance agent the full value of a collectible car, but you should not worry about being taken advantage of by the agent. Vintage car insurance is usually much less expensive than everyday car insurance, because classic cars are not driven very often.
Be sure to check out the limitations on your vintage car policy. You might only be allowed to drive your 1966 Mustang Fastback fewer than 5,000 miles per year. You might not be allowed to let your teenage daughter drive it, either. You might only have to pay one percent of your classic cars’ value; which will surprise you, especially because the low amount will leave you plenty of money to put into your vintage steel and chrome baby.
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