If you have a vintage
car then it probably cost you a lot of money. Most people who buy vintage or
classic cars do so not only because they like them, but because they see the
vehicle as an investment. Once you have spent thousands, if not hundreds of thousands
of thousands of dollars on a vintage car, you need to be sure that you have the
right kind of insurance policy.
When you are shopping
for car insurance you'll find that the type of insurance you need will be
different to that for ordinary cars. Once you start looking you should try and
find an insurance company that specializes in insuring vintage cars. Vintage
cars require specialist coverage. The type of coverage you will need will
depend very much on how your car is used. You will need a different kind of
premium if the car is only driven to specialist shows and exhibitions, than you
would if you drove your vintage car like a regular vehicle.
Providing you take the
time to look for the right kind of policy for your car, then it is possible to
save money on car insurance. You should not insure a classic or vintage car
under a standard insurance policy. If you have bought your car as an investment
piece then you don't want to be driving it around in the same way that you
would an ordinary car.
There are guidelines
for insuring different types of vehicles and you should be familiar with these
before you insure your car. If you want an insurer to give you a good quote for
your vintage car then you need to have been driving for at least five years as
insurance companies want to protect your asset as much as you do. Providing you
are twenty five or older it should be easy to find insurance for your vintage
car as insurance companies will look on you as less of an insurance risk than a
younger driver.
When you insure a car,
insurers will want to assess both your security and your driving skills before
they will allow you to take out a speciality premium. You should have a car
that is old enough to be considered a vintage vehicle and this standard will depend
on the company that you buy your insurance from.
Some insurance
companies will only give vintage status to cars that are nineteen seventies
vintage or older. You should know that policies will differ depending on the
age of your car. Another thing that insurers will take into consideration is
whether you have an insurance policy of an ordinary car before they grant you a
special policy.
If you do tend to
drive a vintage car on a daily basis then insurance companies may regard that
car as too much of a risk, as the more a car is driven the sooner it is likely
to deteriorate and decrease in value. Insurance companies offer special
premiums based on the actual cash value (ACV) of your car, the stated value
(SV) and the agreed value (AV) of the vehicle.
When you give the
insurance company a value for your car they will pay it but they cannot insure
you for the stated value. Most vintage car owners get their insurance on the
basis of an agreed value of the car. This means that they will agree with you a
value for your car and take into consideration your investment and any
maintenance, and then they will give you a policy for that value.
Looking for a cheap
car insurance rate
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vintage car? You can get a quick car insurance quote
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vintage car at Cheap-Motor-Car-Insurance.com.
Article Source: http://EzineArticles.com/3246260
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