Getting Antique Car Insurance

Getting antique car insurance is very important. While you may not ever be able to replace it in the event of a total loss, you'll at least be able to get a fair market value as the payout from your provider. However, this is only true if you have very good classic car insurance.

Proper Documentation
In order to ensure that you receive the actual fair market value for your classic car insurance payout, you need to make sure that the car is properly documented. This means that you should have at least one professional appraisal, and keep all receipts for work performed and parts purchased.

Investing
If you purchased your antique car as an investment, you will most certainly have issues finding an online quote for insurance. Most databases use a construction which evaluates average road vehicles, so antique, classic and vintage models may not be taken into consideration. For example, if the form asks for the age of the car, it cannot safely determine whether the age and the condition are accurate compared to another vehicle which is a classic. It will offer a quote based on the age, but not the pedigree.

Low Cost Coverage Options
Specialty classic car insurance companies are your best choices to get a low car insurance rate on your antique car. These insurance companies realize that your vehicle may not be driven regularly, and your premiums are established with this in mind. The value of your vehicle is not connected to an arbitrary book value, but it is rather based on an agreed-upon total loss value that you will be paid if the vehicle is totaled. As you choose your own total loss amount, you may select a higher guaranteed benefit but have a larger insurance bill. Conversely, you could choose to lessen your total loss value, in order to lower your insurance bill. These insurers provide instant online quotes that can help you shop around and get the best rate very quickly. Due to their specialization in this type of car, they can offer lower overall premiums for insurance for an antique car.

Hagerty Insurance
Hagerty insurance is a specialty insurance company for collectible vehicles. They started out in 1983, providing coverage for collectible boats, and expanded to cars almost a decade later. They have won several business awards and have grown into one of the leading providers of collectible insurance worldwide. They place no limit on the annual mileage you travel, but stipulate that it must not be your primary vehicle.

Grundy Worldwide
Established over 60 years ago, Grundy Worldwide is a specialized insurance company that place an emphasis on low prices and exceptional customer service. They also offer unlimited mileage and have no limitation on the model years that can be covered.

GEICO
GEICO is the third largest private insurer in the United States and has a collectible vehicles department. If you already have another policy with them, then it may be worth checking out discounts for adding your classic car. GEICO's size and financial strength enable them to offer reasonable rates and a high level of financial security.

Condon & Skelly

In Maple Shade, New Jersey, Condon & Skelly offers online quotes at their home page (www.condonskelly.com). Click the "Online Quote" button. Or, you can call them at 800-257-9496.

Heacock Insurance Corp
Heacock Classic is a division of the Heacock Insurance Corp in Lakeland, Florida. For an online quote, go to Heacock Classic's home page (www.heacockclassic.com) and click the "Get a Quote Online" button. Call them at 800-678-5713.

J. C. Taylor, Inc.
Based in Upper Darby, Pennsylvania, J. C. Taylor, Inc. gives an online quote, at their home page (www.jctaylor.com). Click on either the "Get a Free Online Antique Quote," or the "Get a Free Online Modified Quote" button, depending on the type of collector vehicle you wish to insure. Call them at 800-345-8290.

Tips on Getting Antique Car Insurance

As far as insurance companies are concerned, there are 3 categories of classic cars: Veteran (prior to 1903), Vintage (1903 to 1933) and Classic (1934 to 1970). It is important to bear in mind that not every car manufactured during these time periods, especially the final one, will be considered a classic by an insurance company, or of much value. Typically, cars in the Veteran category are now extremely rare and considered to be one-offs, so it is likely that the premiums will reflect that fact. Some insurers have recently broadened their definition of vehicles eligible for collector-car insurance coverage to include hot rods, street rods and other vehicles which have been modified from their original condition. Some may also allow newer, limited-production specialty vehicles such as the Chevrolet Corvette Z06, Dodge Viper or Ford GT to be insured as "modern classics." In most cases, annual mileage limitations or other usage restrictions may apply.

Annual Mileage
The number of miles that you intend to drive the car each year can have a dramatic effect on the cost of your premium. Generally, insurance companies mandate an annual allowance of 5,000 miles before the price begins to rise. If you intend to drive the car more frequently, you can expect to pay more. Always double check the mileage allowed when getting a quote, so you don't get any nasty surprises later.

Garage Storage
The vast majority of classic car insurance policies stipulate that the car must be kept in a garage. If you do not have a garage, it is important you mention that before committing to a policy. There is no point paying for a policy that does not meet your needs.

Agreed Valuation
The amount your car will be insured for will normally be determined by an external appraiser. Including a guaranteed valuation in your policy may cost a little more, but will protect you in the event of a claim. It is worth asking for quotes covering both options (including and excluding guaranteed valuation), so that you can make the best informed decision for your circumstances.

Modifications
If you have made any modifications to the vehicle, you must disclose them to the insurance company or they are entitled to void your cover. Some companies may request documentation to prove that the modifications have been properly fitted and do not increase the risk level of the coverage. If you have added a supercharger or turbo to the engine, it is reasonable to expect your premiums to be higher.

Covered Drivers
Make sure that all those you wish to name on your antique car policy are experienced drivers, with alternative vehicles and policies of their own. You'll achieve the best rate if every driver has at least 9 years experience and a good driving record, citing no accidents or speeding tickets. The policy will be cheaper if you do not name drivers under the age of 25. Owning regular vehicles for everyday use keeps costs down, as separate policies ensure no driver will be using the antique car for commuting to work.

Car Clubs
If you belong to a classic car club, ask to see if the club has an arrangement with any specific insurance companies. If it has, you could end up saving money on your antique car insurance quote. You'll also be able to gather recommendations from other club members, which may prove helpful to you.

Low Rate Tips
The best way to ensure the lowest overall annual premiums is to be able to make a single annual payment, instead of monthly or quarterly payments. If the car is garaged and covered most of the time, go for a higher deductible to lower your annual premium even more. Choose the lowest amount of medical coverage you feel comfortable with for even lower premiums. Foregoing coverage options such as roadside assistance will also lower your premiums.

Related Questions and Answers

A car insurance quote for a woman will be less expensive than for a man if all things are equal. A man and a woman with the same driving record and driving the same car will get different quotes. As an average, women pay about 6% less for car insurance than men. This is due to a number of factors, but the main one is that women in general are safer drivers, and less likely to have an accident. Men are twice as likely to have a DUI on their driving record when compared to women. Women tend to drive less expensive cars when compared to men, which also makes a difference in insurance prices.

Classic car coverage is a specialized insurance product, and Mercury Insurance does not currently offer classic car insurance. Classic car insurance is often available as a agreed upon value policy. This means that you and the insurance agent agree upon the value of your classic car, and if it is stolen or totaled, that is the amount they will pay out. This is not available from normal insurance agencies. The two most common classic car insurers are Grundy Worldwide and Hagerty. These companies have the expertise to properly value your vehicle and advise you on the best insurance products for classic car owners.