Classic Car Insurance | Should You Get It?
O.k. so you have been working tirelessly on your pride and joy and you want to hit the road. You’ve kicked the tires, filled the gas tank, you even went to the courthouse and got your specialized vintage plates. Well, there is one more important thing you need to have before you go ripping down the road……. insurance!
But what kind of insurance should you get, a regular policy or a classic car insurance policy? Well, that is going to depend mainly on what kind of car you have and how much it is worth. If you took a car and just fixed it up a little and it doesn’t hold any value other than your run of the mill car, then you could probably get by with a regular car insurance policy like you may have for your daily driver.
But what about the real classic car you restored, like your ‘57 Chevy, and you spent thousands of dollars restoring it to like new condition. Well, you are going to want a special classic car insurance policy on this. This isn’t some gimmick created by insurance companies in order to get money from a different class of people. It is simply a special policy for a special vehicle. You will pay more for this policy, but you will get more in return. The insurance company will have an agreed value of your vehicle, perhaps $50,000 for that ‘57 Chevy you restored. Where as if you had a regular insurance policy, then you would just get a fraction because they would go by the actual value of a car like that instead of the appraised value.
There are some stipulations that come with a classic car insurance policy. One of these is how many miles you are allowed to drive the automobile at one time. So if you are going to drive cross country to various car shows rather than towing your vehicle, you will want to make sure you have a policy or have chosen the right company that will allow you to do this.
So it all comes down to this… You have spent time and money on your classic car and hey, accidents happen. So make sure you have yourself protected my choosing the right classic car insurance policy to suit your needs and then you can ride down the road with some piece of mind.
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