AUTO INSURANCE ARTICLE

The Basics of Your Vintage Car Insurance

By: regalado

Automobile collectors have a way of classifying old cars, based on periods of manufacturing date. Antique cars are often referred to those manufactured before 1903. Cars that came out between 1903 and 1933 usually fall in the vintage car category. If the car is at least 35 years old, it is often referred to as a classic car.

Most of these cars have undergone painstaking restoration process. And restored antique and vintage cars, contrary to mass-produced old cars, actually appreciate in value. So let’s say even if you don’t drive your vintage around, you still need to get an insurance to protect the costs of the expensive restoration procedure that you made for your car.

Some call it classic car insurance, or collector car insurance. For others, it simply is old car insurance. And perhaps more popularize it by calling it a vintage car insurance. But as is said, a rose by any other name is still a rose. Whatever it is called, and for our purpose we will use the last term. Vintage car insurance serves the purpose of protecting your older car or classic vehicle, yourself and other persons from the dangers and risks that come with owning and driving a car.

While auto insurance companies may consider the year your car was manufactured, obtaining a special auto policy have specifications that must be met in order to be insured under vintage car insurance policy. Among these specifications that most insurance companies require include the following: that the vehicle be in good or restored condition, be kept in a fully enclosed and locked facility, be at least 19 years old and be primarily used in exhibitions, club activities, etc. Although driving is acceptable, it should only be done sparingly, and the car may not be used as primary transportation. In fact, one thing you need to remember about this type of policy is that most companies limit the driving miles you logged between 1,000 and 5,000 per year.

Compared to your primary car, vintage auto insurance is relatively cheaper. But the coverage is very specific to the car you enroll, the state you live and the company where you get your rates. Some options available under this policy are collision (damage arising from collision with another object), “garaging location” (coverage while the vehicle is stored), spare parts (replacement costs for specific parts), comprehensive (loss to the vehicle) and value coverage (amount of the vehicle’s value).

Since insurance coverage for vintage cars require a special policy, it is always a good idea to purchase insurance from a company that has familiarity with the vehicles themselves. Such companies, courtesy of their specialization, may tend to deal with the insurance of vintage cars at lesser insurance costs than other insurance providers who deal with insurance policies for all vehicles. The brokers for these vintage car insurance companies are also generally more knowledgeable with the unique circumstances of your vintage car. This is very important and in our opinion, a consideration that you should not miss when shopping around for the right mix of premium rate and coverage offer for your vintage automobile.