It would be a mistake to buy the same type of coverage for your classic car as you do your family vehicle. In the event that you get in a wreck, you will surely regret that choice if you did. When a standard auto insurance company says that your classic car is confirmed a full loss, although it is usually a very low amount, you will be given the actual cash worth of your car.
With a classic car insurance policy, you frequently have to meet specific standards to qualify. You must have a minimum number of years of driving experience. Classic cars that are used for business purposes will not be covered.
The insurance company will verify that you have another car for everyday needs. There are certain requirements pertaining to how old the classic car is and how many miles it is driven annually. If you meet these criteria, then you may be able to purchase classic car insurance.
However, not every auto insurance carrier will insure classic cars. When you find a carrier that does, the cost is usually less than what you would pay for a 'normal' vehicle. The ideal kind of auto insurance plan for classic cars is an agreed value policy.
Before you buy a policy of this type, you must sit down with an agent and agree on a value that will be paid in the event that your vehicle is totaled. Your agent will also give you a quote for this type of policy.
Your insurance provider will pay for the repairs if you are in a wreck and the damages are less than the agreed value. However, if the damage is greater than the amount that was agreed upon, you will only receive the preset amount. There is no doubt that this is the preferred auto insurance policy for a classic car.
Although attractive rates are offered for classic car insurance, there are restrictions that have to be met for these prices to be extended to you.
With a classic car insurance policy, you frequently have to meet specific standards to qualify. You must have a minimum number of years of driving experience. Classic cars that are used for business purposes will not be covered.
The insurance company will verify that you have another car for everyday needs. There are certain requirements pertaining to how old the classic car is and how many miles it is driven annually. If you meet these criteria, then you may be able to purchase classic car insurance.
However, not every auto insurance carrier will insure classic cars. When you find a carrier that does, the cost is usually less than what you would pay for a 'normal' vehicle. The ideal kind of auto insurance plan for classic cars is an agreed value policy.
Before you buy a policy of this type, you must sit down with an agent and agree on a value that will be paid in the event that your vehicle is totaled. Your agent will also give you a quote for this type of policy.
Your insurance provider will pay for the repairs if you are in a wreck and the damages are less than the agreed value. However, if the damage is greater than the amount that was agreed upon, you will only receive the preset amount. There is no doubt that this is the preferred auto insurance policy for a classic car.
Although attractive rates are offered for classic car insurance, there are restrictions that have to be met for these prices to be extended to you.
About the Author:
Learn more at Safe Auto Insurance and Really Cheap Auto Insurance. Chimezirim Odimba helps people get quality insurance coverage at low rates.
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