Reader question:

How do I get classic car insurance?

Bob

Good question.

Classic car insurance can be gotten the same way a regular car insurance policy is–through your typical auto insurance company. However, there is another way to do it, and doing it this first way is not a very good idea. Why is that? Well, the main reason is that if you get into a car accident and your car is declared a total loss, then your car insurance company will give you your claim check for the total cash value. For a car that old, that is not a lot, because it doesn’t take into account the deserved amount as a refurbished collector’s item. If you get your classic car insurance with a egular auto liability company, then you are just asking to lose.

There are, however, companies that work specifically with insuring classiccars. In order to be able to take out sa policy with one of these kinds of companies, you normally have to fit into a certain guideline of customer type.

• You have to have been driving for a few years, normally three. You have to be able to show that you own a different vehicle for regular use. You can’t use your classic car for work. There is a mile limit which you have to be under every year.
• The classic car has to be at least a particular amount of years old, usually twenty five to thirty.

If you get your classic car insurance policy with one of the insurance companies that specializes in this, then you will get the cheapest deal coming out of it.

When you get a classic car insurance policy, normally you get one called an agreed value policy. This means that instead of the supposed total cas value of the car, you and your car insurance agent agree on what your car is worth from the get go and that number goes into your policy sheet. Then, if you get into an accident, it is used as a benchmark. If you stay below it, then you get paid for repairs. If you go above it, then you get paid the agreed value. Whatever you do, if you intend to insure a classic car do it this way. It is both cheaper and safer.

Cheers,

Fashun Guadarrama.