Do you have a classic car? There is a classic car insurance that is different to the standard insurance.
This type of insurance is designed for vintage cars. Of course, there are things that need to be taken into consideration and eligibility.Be aware of the facts before considering vintage insurance.
Firstly, your car needs to qualify to obtain classic car insurance. There are three namely categories, Edwardian which are vehicles created January 1905 and December 1918, Limited is rare vehicles or special interests and Veterans which were cars manufactured before December 1904. Convertibles, 2 door sports cars, big v8 engines, and cars that have a unique shape are considered to be collectibles approved for the type of insurance.There is an age limit on most cars being 15 years old at least before it can be classed as a category classic. However some states require the vintage car to be at least 25 years of age.
If a car is rare or exotic sometimes insurance companies will consider giving you vintage insurance even if the car is under the minimum age limit.You will need to check this with each individual company as they all have different requirements.There isn’t just an age limit for the car itself but also for the owner of the car. You will also need a clean driving record, not a record that states too many causes of accidents and loss of license.A fine here and there or an offense that happened several years ago is fine just nothing major or reoffences.
There is also a requirement for storing your vintage vehicle and these are pretty strict. To be considered for classic car insurance your car cannot be parked out the front of your home, it must be kept in a lock up garage. You will find a few companies require your car to be locked up in a storage facility designed for storing vintage cars.Your car should not be used as your most used local vehicle. If you use it every day it cannot be qualified for the classic car insurance. Cars that are only used every so often will qualify but this can work to your advantage. The insurance is cheaper as you are not driving your vehicle every day. There will be some sort of mileage restriction as well to around the 5000 mark each year.
The payouts process is quite easy and quick and then you receive the money in your account due to the car being stolen written off and severely damaged.
It pays to shop around there are so many different vintage and classic car insurance companies with different costs involved and different requirements. Most quotes can be done online in the comfort of your own home. You will just need a few details such as make and model, current mileage and any customization that you may have done to the car, details of where you store your car and your current license number.