The number of antique cars has significantly increased on our highways in the recent past. It only means that consumers have more disposable income, or car enthusiasts have multiplied in numbers of late. Owning an antique car is already expensive, and it probably costs you a fortune to have it delivered right into your yard. You can purchase an antique car for either personal use or collection purposes, especially if you have a showroom.
Given the expenses involved in acquiring and maintaining the car, it is imperative to cover it with an insurance paying full value of classic cars. But before that, how do you know if your antique car qualifies for this special insurance coverage? You must meet a special set of requirements, including having a clean driving record within the past three years, a valid driver’s license, and another properly-insured car for daily use. Remember, a classic car is defined as a car that is generally more than 25 years old and isn’t meant for primary use.
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Other factors that will determine the type and amount of insurance cover include how you’ll generally use the car, and your garage condition back at home. While the garage must be safe, durable, and secure, the policy must also reflect the kind of use for the car.
So, why should you get a classic car insurance policy for your antique car? Well, check out on these reasons which include but aren’t limited to the following:
First, it will interest you to know that collector car insurance costs less than typical primary car insurance. Some companies may offer up to 40% less of the normal policy cover. Remember, collection cars have limited use, and your insurer will insist that you only drive it for agreed errands. For instance, some policy covers will only expect you to drive the car to showrooms and antique fairs. Others may even allow you to drive the car out to town once to pick some groceries. That is what is referred to as pleasure use coverage. However, you must note that pleasure use coverage may be limited to some miles. In brief, the policy only covers your car when in the garage and when on “official” duties as captured by the policy cover.
Classic cars are exceptional in their own way, and as the owner, most policies will give you the privilege to choose an agreed value for coverage. While some covers may insist on paying the actual cash value in the event of a total loss, it may be under-value, especially if you made some modifications. In brief, a typical classic car policy cover should give you the option of agreed value coverage, because to some extent, classic cars appreciate in value.
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There is a good reason why classic cars aren’t meant for primary usage. In that case, driving for long-distant shows and antique car fairs poses huge risks, especially if you are moving from one city to another. Getting a classic car insurance coverage will provide you with all kinds of roadside assistance that you can think of. For instance, the car is obviously more than 25 years of age, with a long-life mileage. The possibility of it breaking down on the road is very high, especially if such a long trip is the first one in a while.
A reliable classic car insurance coverage will ensure that you are never stranded in your antique car with a guaranteed flatbed towing. The cover also facilitates your transport to any nearby hotel or your home as towers handle the car. You’ll also be compensated for any valuables lost in the process of towing the car.
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