A classic car is a true car collector’s dream. However, when you finally purchase that classic car you have always yearned for, you have to worry about what type of car insurance is best for it.
There are quite a few reasons why your classic car needs its own brand of special car insurance. Whether it’s sitting in the garage or you’re driving it back and forth to car shows, regular car insurance just isn’t going to cut it for a collector’s item. However, when it comes to choosing the right insurance there are a few facts that you need to know. Read on below for a few of those facts to be revealed.
Does your classic car qualify for special insurance?
The first thing you need to figure out is if you car is a classic that qualifies for this type of special insurance. The rule of thumb to follow is this: If your car is over 15 years old and has a certain monetary value, then it is possible that it is a classic and could qualify. There are quite a few options for insurance out there, you just have to do your research to determine which is the best policy for your car.
Know the type of vehicle
For your car to be considered a classic and be eligible for special insurance, it needs to fall under one of three categories for the type of vehicle. Veterans vehicles are cars that were made on or before December of 1904. Edwardian cars were created between the dates of January 1905 and December 1918. Limited options are cars that are rare, limited editions, or special interest vehicles.
There are quite a few rules and regulations to follow when it comes to declaring your car a classic. Doing your research is the best way to find out which category, if any, your car falls into.
Know the age limitations
In many states, a car has to be over 15 years of age to be considered a classic, and therefore eligible to have special classic car insurance put on it. It is best to look into the laws in your state, as every state is different. Make sure that you do your research on this, as you don’t want to think you have a classic are when you don’t.
The driver’s background is important
Many classic car owners looking to put special insurance on their vehicles don’t realize that there is an age restriction on who can drive that classic car. Only drivers who have reached a certain age can get this type of insurance, in most states. The insurance companies are usually very strict on the driving history and even the experience of drivers who are declared to be able to drive the car after it is insured. Once again, checking the laws in your state is the best thing to do in this case.
What is the best type of insurance?
The best type of insurance for your classic car truly depends on you as a person. What amount of coverage do you feel that you need? What is your budget and what type of monthly payments are you capable of paying? These are just a few things you should take into consideration. Once you have your answers, contact an agency that handles this type of insurance for a consultation and quote.
Owning a classic car is the dream of car collectors everywhere. Just make sure that you have that classic covered with the insurance it deserves.