July 9, 2009

Insurance for your Antique Cars

antique car insurance
Insurance for your Antique Cars

People who own some lovely antique cars take pride in showing them off to others who do not have one. To them the car is as good as one of their family members. However, antique cars are very prone to damage and the servicing charges are very high too. So, you should always think of a special insurance cover for your antique cars. This will ensure the security of your cars and you can too take them out without any worries. You can also take part in vintage car competitions with these cars.

What differs an antique car from just an old car?

The distinction between an antique car and an old car is very thin and each insurance company sees this in different ways. In general, a car is rated, in the eyes of the insurance companies, an antique car which is over 25 years old and which is not used for commercial purposes or not as a public transport. It should be solely for show purposes. It also must have some value in the collector’s market and should be in a good condition. If an old car does not meet these criteria, then it will only be considered just as an old car, and will be covered under the general auto insurance policies. But, if the car falls under those aforementioned criteria, then it will get special insurance rates much lower than the usual auto insurance policies. You had better consult an insurance expert to classify your car in the antique genre.

antique car insuranceHow to categorize your car as an antique one?

To be termed as an 'antique car' to fall under the special insurance cover by the insurance companies, your car must be evaluated and categorized as such. For that, you need to choose an apt appraiser who has the knowledge of those cars and the makes of them. If you cannot find an expert appraiser, you may approach the American Society of Appraisers (ASA). The ASA will guide you to find a good and knowledgeable appraiser to evaluate your car. Information such as the make of the car, the age of it, the model, color, the engine number of the car, the Vehicle Identification Number (VIN) is taken into account. VIN is needed to prove the authenticity of the cars.

How to insure your car?

Three types of insurance policies cover your antique cars. Actual cash value (ACV) sets a value for your car when the car is insured and the value depreciates with age. If any claim is made for the insurance, you will get either the stated value (SV) of the car or the ACV, whichever is lower. SV also depreciates with time. The third one is the agreed value coverage (AV). AV coverage is a set amount of insurance coverage, which was agreed upon when the policy was made, and you will get the agreed value of your car if you make a claim for it. This coverage is the best recommended for your antique cars. Antique cars must not be insured on a depreciative insurance policy.

How to get insurance agencies for your antique car?

There are many mediums to find out an antique car insurance agency. You can locate them through directories or through internet. I will recommend you to look up in internet. It is a vast medium and you can easily get any one of them. First check out the terms and conditions of those insurance companies for antiques cars. These agencies will also help you to compare various insurance policies for different antique cars.

So, get your most dear car insured with a special insurance policy and continue to take care of it. Know all the pros and cons of those policies and finally settle on any one of them. Then relax and stay worry-free.

Resources

When it comes to Quebec auto insurance you have many choices right at your finger tips. Finding a car insurance company to acquire assurance vie is as simple as going online. You can get quotes directly sent to your email account. By filling out some information, such as your name, address, and type of vehicle you are driving, you will be able to have quotes sent to you immediately. Being able to compare different companies with the ease of a few clicks of the mouse allows you to find the best deals out there and gives you the insurance you need to drive legally.

4 comments:

melinda said...

The post was absolutely fantastic!I loved to read your article. Buy Car Insurance Lots of great information and interesting to read, both of which we all need! You must be putting a lot of time into your post!

business insurance quote said...

Is there any policy available to insure antiques cars. This is new to me as I have heard people taking insurance policies for their new items. One of my friend is having an antique motor bike and I will suggest him about this policy.

Insured Insurances said...

antiques really need an insurance of worth....

cardealerships said...

Thanks for the information about car insurance.

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