Tips For Insuring Your Classic Car
Do you own a classic car that you rarely use? If so, you should have the right type of insurance coverage for the vehicle, and insurance companies often recommend classic car auto insurance for these types of cars. If you want to protect this asset, you must get the right policy for it. Here are some tips to help you get the right coverage for your classic vehicle.
Find Out If Your Car Qualifies
Insurance companies have different rules and standards for qualifying for classic car coverage. Some companies have age requirements. They may not let you get classic car coverage unless your car is a certain age. The second guideline is usage. Classic car coverage is not something you should purchase for a car that you drive every day. You must use the vehicle only for fun, and you must meet limited use requirements. You may also be required to keep the car in secure storage when not in use. You could keep it in your garage, or rent a place for storage of the vehicle. You can call an agent to learn more about the requirements.
Learn How the Coverage Works
When insurance companies provide policies for classic cars, they often insure them for an agreed-upon amount. You cannot look up the value of a classic car as every car is different. Therefore, the insurance company will ask you about the value of your vehicle and will provide insurance coverage for this amount. If you ever get in an accident that is covered under your policy, the agreed-upon amount is the amount the insurance company will give you for your car if you total it.
You may choose the coverage types, and it might be wise to choose collision and comprehensive coverage for the car. These types will protect you from most perils that could damage your vehicle. When your car is not in use, you can switch the policy to storage-coverage only. Storage-coverage only provides the protection you need when you are not driving your car. When you pull the car out for a season, you will need to change the coverage back if you want to have the protection you need.
Classic car coverage protects your valuable cars, and it is something that you should find if you have a vehicle that fits the guidelines. To learn more about this type of coverage, talk to an auto insurance agent today.