Antique Collector Car Insurance: What to Know Before You Buy

Having antique collector car insurance is imperative if you are looking to protect your investment. Owning an antique car is quite the experience. Just saying that you own a Shelby Cobra, or an old Ford Mustang has something attached to it. It is often a very sentimental car that is truly priceless. However, to an insurance company, it is not priceless because all the cars they insure have to have a price. Buying classic auto insurance is important in the off chance you need something done.

Getting a Quote

Getting a quote for an antique car normally requires a sit down in person, as well as a check of the car. Now you can just go on the Internet and find classic car insurance quotes in an instant. You can get free quotes online for your car. It is recommended  you use those quotes as a baseline of what to expect. For classic antique cars, it is best to have a sit down meeting with an insurance agent to figure out truly what your car needs. Your car is a priceless item, but a value needs to determined for the car in the case of a bad accident. Often times insurance companies and their clients are different on the price they want in value for the car. That is why it is important to get this worked out before you sign because your insurance company would win if it was their value against yours. This is the most important thing to know before buying your insurance. You may have to pay a higher rate just to get the coverage you want, but it will be well worth it.

High Rates

Antique cars are not driven that often. They are usually sitting in a garage and being worked on or they are brought to car shows to show off. That being said, it would make sense that the rates would be lower than normal car insurance for the car you drive every day for leisure. It is actually the exact opposite. Antique and collector cars are quite rare, and not only is it tough to find the car in the market, but it is also tough to find parts for those cars. In the off chance you are driving your car you get into an accident, the repairs on that car for even a minor fender bender, can be much higher than rates for a big accident involving a modern car. Insurance companies know this and have to charge you higher rates. You can get a lower rate though if you tell them it is only for your enjoyment and not to be brought to shows. In this case, your only worry would be having the car stolen. Showing the insurance company that it will be in a locked garage with a security system can make the rates go down. Anything you can do to prevent it from being stolen will result in a lower auto insurance rate.