Antique Classic Car Insurance and Your Classic Car

Ordinary car insurance companies really don’t understand what people in the antique classic car field actually want. They are blinkered by the needs of the day to day car use of Joe public. Everything has to fit into a standard category and car value goes down relentlessly as the years pass by. If you change anything on the car they start licking their lips with the anticipation of a nice fat bonus check. So what are you to do if you suddenly have the urge to buy an historic motor vehicle, a hot rod or simply want to ‘pimp your ride’ and make it look the talk of the town. Well fortunately there are companies out there that specialize in this kind of thing. They know what the car collector wants and make it their passion to keep them happy with the products that they provide.

One of the main aspects of classic car collecting is that your motor vehicle is likely to increase in value as the years go by. This is the exact opposite of the ordinary car market. To this end Classic car insurers have a system of agreed valuation. This means that you can set your own value on the car that you own. Its value may be higher because it is an historic vehicle or possibly because you have spent a lot of money changing the body design or the engine specification. Of course this has to be agreed with the insurer and so you just can’t simply make things up or exaggerate the car’s condition or features. You may have to provide photos of the car as part of the process of valuation.

This doesn’t necessarily mean that antique classic car insurance is going to be expensive. This is because the insurers recognize that the people who own such cars are serious about their investment and will be driving with the utmost care and generally trying to keep their car safe.  People who own such vehicles are generally not using then for the usual day to day commute to work. A lot of the time they are garaged just waiting for that special event to take place and then with loving care they are displayed in all their glory.

There are a number of other factors that are important in the selection of cover in this particular area. If you intend showing your car at events then there is coverage aimed at this particular field. Cover can also be provided for foreign travel and touring. This may also include the shipping to the foreign country, spare parts, labor and trip interruption.

Some insurers have restrictions on the annual mileage that you can do with such a vehicle. This is probably an attempt to stop you using it as your family car. There are others that have no restrictions what so ever. If you know that you are only going to do a limited number of miles in a year then this can also be a bargaining point in keeping the insurance costs down.

If you suddenly have the desire to buy a particular car and have to get it there and then there is also instant cover available for a short amount of time on a new acquisition. This enables you to buy it, get it home and worry about the final insurance cost at your leisure. This is a very useful feature as I am sure that a lot of vehicles are bought in that moment of clarity which occurs when you are presented with an offer you just can’t refuse!

It is never too late to start your own collection of classic cars. I had 2 Landrovers at one stage. I always wanted a car that was older than me and I found a 1956 series 1 Landrover which just fitted the bill. I also had a 1964 safari long wheel base model as well. I actually used this one as my main vehicle because in the end the insurance for limitless mileage was cheaper than the ordinary insurance on a modern car. The main message is that you should not let the fear of antique classic car insurance cost put you off starting your own classic car collection.