Owners of classic cars may be extremely educated in the ways of restoring vehicles and keeping them tip-top once they’re brought back from the auto graveyard, but few are well versed at finding the right kind of insurance to match their cherry rides. The fact is, there are dangers inherent in obtaining “regular” car insurance for classic rides that are eliminated when getting a classic car insurance quote.
The greatest potential danger is loss of time and money investment. For example, an auto insurance company pays out by a vehicle’s “book value”—but if someone’s spent years and tens of thousands of dollars to restore a classic car, there’s no book in the world that can inform an insurer what they should pay out.
Therefore a classic car insurance quote is established based on the car’s agreed value. Both parties have to come to an agreement on the value of the car that’s being insured. The only trouble is, there’s often disagreement around the final dollar figure that can be the cause of serious grief for all involved.
So what do experts recommend for those seeking fair classic car insurance quotes? Shopping around. Classic car owners should compare auto insurance quotes from at least three different providers before agreeing to coverage. Online comparison engines should be every classic car owner’s first stop in ensuring they’re covered for what their sweet ride is worth.
Finding out your Options when your Auto Insurance Denies your Claim
As if dealing with the hassle of an auto accident wasn’t enough, your insurance company has now denied your claim. Your car is wrecked, you’re out several hundred or more dollars, and y...
Read More →
Is it a Myth or Fact that Red Cars Cost More to Insure?
When you are considering the purchase of a new vehicle, you want to take time to consider the impact on your insurance policy. Among the myths that may worry you is the idea that red cars are more ...
Read More →
Do I need to Personal Injury Protection (PIP) Coverage on my Auto Insurance Policy?
Not everyone must buy personal injury protection, but it's certainly a beneficial addition to your auto insurance policy, should the coverage be provided in your area. Personal injury protection, o...
Read More →