Insurance Tips for Classic Car Owners

Owning a classic car is the dream of many people. Perhaps you want to get that same car you drove as a teenager to restore and drive on the weekends, or maybe you want a true antique to take to car shows. No matter which type of classic car you have in mind, there is one thing you have to keep in mind—insurance.

Insuring a classic car is a bit different from a regular car. The details will mainly depend on how often you drive the car. If you are driving it once or twice a year to a car show, you may be able to get a significantly reduced rate; however, if you are going to take it racing on the weekends, you may need more insurance than a standard car.

One of the tips that comes up time and time again amongst classic car enthusiasts is to find an independent agent that specializes in this type of insurance. While it can be tempting to work with a big, faceless company, you will get the care you need by talking directly with an agent.

Do not try driving your car without some form of insurance. Classic cars are even more likely to break down than a traditional car, and if you find yourself on the side of the road, a police officer will be asking for your insurance information and the car’s registration. Not insuring your car can cost you way more than what you pay for your small monthly policy.

Another piece of advice is to make sure you get insurance that covers the full value of the car, not just the book value. A well-restored old classic is likely worth considerably more than the book value. You could wind up in some serious hot water if you do not insure for the full value and you wind up getting into an accident or otherwise causing damage to the vehicle.

Classic car owners want the very best for their car, which is often more than simply a mode of transportation; it is normally an investment too. Insurance is not a place where you should try to cut back to save money—however, saving money is a possibility if you work with an agent that understands your needs and can help you figure out how to get the best rate without sacrificing coverage.

How to Buy Car Insurance for a Classic Car

Know How to Buy ?Classic car owners looking to buy car insurance should be very careful when requesting easy car insurance quotes. Think about it: when you’ve finally bought that 1965 Pontiac GTO Bonneville you’ve been dreaming of for years, you want it to be insured for its full classic car value, don’t you? Unfortunately, many classic car owners aren’t aware of the fact that standard car insurance insures your car for its depreciated blue book value, also referred to as Actual Cash Value or ACV, which in no way represents a collectible’s value. So what should you look for when you want to buy car insurance for a classic car?

Stated value insurance coverage. The stated value allows you to state how much the car is worth and does not bind you to the blue book value. However, the insurance carrier might not meet your stated value completely, and your classic car can still devaluate under stated value insurance coverage. Be sure to read the fine print on these types of insurance policies.

Agreed value insurance coverage. The agreed value insures your car fully for the agreed value, which you negotiate with the insurance carrier. With agreed value insurance coverage, your vehicle doesn’t depreciate, which makes it the preferred choice for classic car owners.

Buy car insurance with AgentInsure
AgentInsure makes finding the best deal on classic car insurance easy and efficient. Simply enter your information in the online form and you’ll immediately receive a number of quotes for your review. You also have the option of contacting a licensed agent in your area to discuss any details you’re concerned about. To buy car insurance for a classic car, request your free quote from AgentInsure today!