Classic Car Owners Woefully Undereducated on Auto Insurance

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.