What is Collector Car Insurance?
Reader question:
What is collector car insurance?
Great question.
Collector car insurance is a type of insurance that applies to car that are antiques, specialty in some way, often older and high performance cars. This type of car insurance has been on the market for about fifty years, but even with that length of time it is still not as widely spread as it should be. In fact, the majority of drivers who own collector cars are insured with a regular car insurance company instead of with the insurance companies that specialize in collectible and high performance vehicles. And then there is also a significant number of drivers in this group who are self insured.
However, getting your collector car insurance through a company that specializes with those types of cars is much cheaper in the long run. The reason for this is because the insurance from a regular company can often cost five times as much as it would from a collector company, and the policies from a regular company don’t really fit the use typical of a collector car, and often don’t provide for the care and coverage that it needs.
Cheers,
Fashun Guadarrama.
Classic Car Insurance Companies – Are They All The Same?
Reader question:
Are all collector car insurance programs the same?
Great question.
They definitely are not. As a matter of fact, there are just as many, if not more, differences among collector’s insurance companies as there are among those for regular daily car insurance companies. When choosing which classic car insurance program you want to insure your vehicle with, you need to consider a lot of factors. Getting a free online auto insurance quote should be the thing to start you off, but it should not be the determining factor. Classic cars need more attendant care than do other types of cars, so making sure that the service from your new classic car insurance company is great is the key to choosing a great program.
When you have chosen and then need to pick your coverage, remember the three versions of coverage that can be gotten for a classic car. There are agreed value, actual cash value, and stated value. Most people want to go with agree value so that the value of their classic car is understood up front, so if you want a company that does it a certain way, make sure you think about that during your search.
Cheers,
Fashun Guadarrama.
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