If you are lucky enough to have a collector’s car, you will probably want to take good care of it, and that will include insuring it adequately. In the car insurance industry, collector cars are classified into four categories. There are veteran cars, which were manufactured prior to 1905; Edwardian cars, made from January of 1905 through the end of 1918, and then vintage go between 1919 and 1933. When getting car insurance for collector cars, your best option is to go to a specialized company.
If you are looking for a collector car insurance company, make sure that you read some reviews before buying a policy. If you already bought standard coverage, ask you current insurance broker if his/her company can give you a quote for the collector car. It’s possible that they’ll have a department that handles car insurance for collector cars; if they do, you may get a “multiple car discount.”
Considering a Collector Car Insurance Company
If your insurance company doesn’t handle collector cars, there are a number of companies that specialize in them. A limited mileage policy applies if you don’t drive the car very much and can agree to keep your annual mileage under a certain level, typically 12,000 miles. However, if you can agree to keep your mileage even lower, you can often get the premium lowered. The agreed valuation clause sets the value of your car at the start of the period it is insured, instead of setting it at the market value.
Certain car clubs will offer insurance and savings
Some collector car insurance coverage policies will also cover you for road rallies and collector car races, and will offer you discounts if you belong to certain collector car clubs. You need to be very mindful of this, as rallies etc can be a lot of the pleasure that you get from collector cars but they are also where your car is most likely to be damaged and some car insurance companies won’t cover you for that.
About the Policies Offered by Collector Companies
Certain collector car insurance policies will provide you with cover that allows you to get salvage parts and restoration for your collector car. Also, if you have a collector car number plate you may want that to be insured too and that is not possible with all car insurance companies. Like any other car insurance companies, many of those offering cover for your collector car have 24-hour phone lines so you can put in a claim and ask advice at any time of the day or not. Accidents and damage don’t always occur during office hours so in any class of car insurance company, you should look for the accessibility and helpfulness you’d expect from any car insurance policy.