What Is Classic Car Insurance?

February 4, 2017 · Posted in General Articles on Car Insurance 
by Carla James

Vintage cars are of great historical value. You would often see that the car owners driving the vintage cars have a proud smile on their face. Therefore it is very important to value to car correctly while getting the vintage car insurance. These types of cars are categorized into three types. The cars manufactured before 1903 are called Veteran cars. The cars built between 1903 and 1933 are called Vintage Cars. The cars built between 1933 and 1973 are called classic cars.

As a general rule, any car which was manufactured more than thirty five years ago can be classified as a classic car. It is very important to insure your classic or vintage car against all types of damages and thefts. You can get the car insurance form any car insurance company but it is generally advised to get it from a company which specializes in a vintage car insurance.

It is also very important to find the right insurance agency for your classic car insurance since this company should be able to get a proper value to your precious car. The insurance company will examine your car and put a value known as agreed upon value of the car. This aspect of the policy is critical since this is the amount of money which you will get from the insurance company in case of theft beyond recovery or total loss in an accident.

The insurance company will consider a few things while deciding the value and premium amount for your car. Some of these include the age and make of the car, the driving history of owner, the cost of repair and spare parts, the way the car is kept and maintained. Since these are vintage cars, they are expected to be kept nicely in a garage instead of pavement or road.

Most likely, the mileage of vintage cars is pretty low since these cars are not used for daily commuting. These cars are usually driven for pleasure or for show-off in exhibitions. Mostly, the insurance agencies put a limit on mileage of around 5000 miles per year. Vintage cars are very precious for their owners therefore it is imperative that they get comprehensive coverage for their classic cars.

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