Classic Car Insurance - 6 Questions to Ask Before You Apply

Are you ready to shop for classic car insurance? Maybe, maybe not. Before you pick up the phone, let's take a minute to review the six questions you need to consider before you talk with an agent. Essentially, your agent is going to want to know how much the car is used and how you plan to maintain it. Knowing the answers to these questions will save you time on the phone -- and put you in a much better position to negotiate the best insurance coverage for your classic honey.

1. Do you plan to insure the car for what you feel it's really worth? Your agent will undoubtedly ask how much insurance coverage you are seeking -- if your personal opinion of value is higher than the vehicle's appraised value, you may want to consider a higher level of coverage.

2. Do you plan to participate in car club events? If so, you need to consider the amount of liability you can incur in such events. A classic car that is stored 365 days a year has much less potential for liability claims than a car that is driven regularly in parades and other event.

3. Are you planning an extended period of renovation for the car? If so, do you need to insure the car while it's off the road?

4. Do you plan to ship the car any time soon? If so, additional coverage may be warranted since the car will be outside of your control.

5. How many miles a year do you expect to drive the car? If these miles are limited, you may be able to negotiate a lower premium. Be sure to ask about any maximum mileage limitations. An annual restriction of 2,500 miles may be imposed by your car insurance company.

6. Who will be repairing or maintaining the car? Again, if the car is outside of your control, you may want to consider higher theft and damage coverage. On the flip side, if you personally maintain the car within secure confines on your property, you may want to pay for minimal coverage.

The answers to all of these questions need to be considered before you decide how much coverage is warranted for your classic car. Also, car owners should be aware that some insurance companies specialize in classic car insurance. But as with any car insurance policy, it's best to get quotes from several insurance providers before making a decision. Hopefully, by carefully considering the answers to the six questions we've discussed, you'll be prepared to shop for the best coverage for your classic car.

Thinking of shopping online for multiple car insurance quotes? You may want to visit the website recommended below to get at least five quotes for your classic car insurance.

Antique Classic Car Insurance

That antique car you got in your garage for so many years needs to be insured, just like any other normal car would be. But, standard policies don't normally apply to antique cars. They need something different. Most people think that it's quite hard to get insurance for an antique car, but the truth is that there are a number of companies that offer this service now.

There are a lot of companies that carry options for antique cars, so it shouldn't be a problem finding something that fits both your budget and your needs. Did you know that most car insurance companies offer classic cars policies now?

If you have a custom or antique car you can probably benefit from the collectors auto insurance plan. Ask a representative from an insurance company for more information and you'll be able to take the best decision for your case.

You need to find the best balance between the coverage that you need and the price you can afford to pay. The agent will help you with all that. Compared to the past situation, the number of choices when it comes to antique classic car insurance is huge.

You might find higher rates when you look at big companies though, as they're not specialized on them, but the extra cost is worth it in most cases, because of the extra stability and reputation of that company. There are also a number of companies that are independent and working with car collectors only, though that means that you will need a second company to insure your normal cars.

It might be harder to find classic car insurance if the car is very rare, because the choice is a bit more limited. This is because rare cars are also very difficult to repair, so it's not easy to estimate costs. It's more popular every day to collect old cars, so more companies offer these insurances each day, and some of them are even specializing in them.

There are a lot of insurance providers out there, so make sure that you pick the right one for you.

Classic Car Insurance Quote

Some people think of classic cars as the transport of eccentrics and TV detectives. Others consider them to be glamorous, expensive, and high maintenance status symbols. But the reality is that many classic cars simply do not fit these stereotypes. A classic car is easy to rave about but incredibly hard to define. Who is to say that a cherished Austin A40 in a supermarket car park is less of a ‘Classic Car’ than a Mark II Jaguar at Ascot? And that’s where you need to know what is and isn’t classic – it will make a huge difference to your car insurance premium.

Top tips for getting the best deal

• It is widely reported in the motoring press that classic car insurance is far cheaper than a modern car policy but it is important to be vigilant and well informed.

• The condition and scarcity of a classic can vary dramatically, and an owner’s perception as to the value of his beloved car can often be at odds with his insurer’s valuation in the event of a claim.

• Search for a specialist insurer, they are more likely to provide specialist assistance and provide a better rate.

• It is vital that you take out a guaranteed agreed valuation when insuring your classic car.

A genuine agreed valuation is the value guaranteed by the insurer should the car be written off or stolen. Make sure you check that your valuation is ‘guaranteed’, as some insurers have refused to pay out the full amount, despite the owner believing that they were fully covered.

Insurers may or may not make a small charge for an agreed valuation but it can be a false economy to omit it from your policy if the pay-out on your claim turns out to be hundreds or even thousands less than you thought. So, if you are surprised to learn that insurers consider your beloved 1970’s Datsun Cherry a classic, make sure you take care when choosing your classic car insurance policy!

A car as special as yours deserves a special kind of insurance policy. That's where Peter Best Insurance can help. With over 21 years experience in arranging specialist insurance of classic cars, they are well placed to provide you with classic car insurance quote and guidance in selecting the best policy for your car.

Peter Best Insurance Services Ltd is a specialist insurance broker with over 21 years experience in the collectable cars, motorbikes and commercial vehicles markets. The business operates out of two offices in Essex - Maldon is the main office dedicated to classic cars including MGs, Morgan's, 4x4s etc (01621 840400), while Kelvedon has certain car schemes for Mercedes Benz, Volvo, Saab, BMW, for example and classic motorcycles. (01376 573033). Collectable commercial vehicles are also catered for here together with kit cars.

With their interest in the classic market, they have also forged strong connections with many of the car clubs such as the Mercedes Benz Club and the MG Car Club. This enables them to offer discounted premiums to existing club members, providing they can supply their proof of membership.

They have a portfolio of insurers who have created a selection of policies specifically designed with the classic enthusiast in mind. These will offer the best levels of cover at a competitive price.