Getting Car Insurance For Your Antique Collectors Car
By: Elizabeth Newberry
Getting car insurance for your
antique collector s car is not the same as buying insurance for
your everyday car. The insurance for collector s cars is different
than other auto insurance. Every antique car collector should know
a few things about antique car insurance.
First, your state is going to have specific laws as to how old your
car has to be to qualify for antique car insurance. The age is usually
at least fifteen years. Also, in order to qualify for antique car
insurance you must have another car that you use as your regular
car, and a garage to park your antique in.
Collector s policies are important because of the different types
of coverage offered. Traditional car insurance pays the actual cash
value of the vehicle. Actual cash value is the cost of replacing
the car minus the cost of depreciation. This is a poor choice for
antique car owners, because it does not incorporate the appreciation
of a collector s item.
Another form of traditional car insurance covers the stated value
of the car. In this type of coverage, the insurance company pays
what the car is stated to be worth.
Antique car insurance is a specialty insurance that pays the agreed
value of the car. This way the owner will receive the full value
of the car as a collector s item. And, antique car insurance usually
costs less than traditional car insurance. It s a win-win situation
for the car collector! A little education can save the antique car
owner a lot of money and frustration when purchasing car insurance
for their collectible.
Please see our recommended insurance provider below for the lowest
rate insurance on the internet. They not only offer low rate quotes
but allow you to combine insurances for better rates and coverages.
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