Best Collector Auto Insurance
Post date: February 20th, 2009 |
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Owners of collectible cars have a great deal of pride in their vehicles, however a collectible car is more than a showpiece, it is an investment as well. You will need to protect your investment with the right collector car insurance policy. Since the repair and replacemnt of a collectible car can be cost prohibitive, a collector car insurance policy will financially save you in the event you fall victim to theft, an accident or damage. Compare los angeles auto insurance Quotes for Free.
A regular insurance policy will not offer the specialized benefits of collector car insurance. As such an insurance carrier has certain provisions that must be met prior to issuing a policy. The three main stipulations are mileage limits, vehicle age, and driver qualifications. Additionally, an insurer will insist the vehicle be secured in a garage when it is not in use. Receive competing houston auto insurance Quotes Today.
Limits on miles driven per year is usually no more than 5,000, although some companies have provisions for excess miles. The mileage driven is limited to car, hobby, and show activities for the most part; collector car insurance policies do not permit driving the insured vehicle for commuting or commercial activities.
Restrictions on the vehicle’s age are a primary factor in collector car insurance policies. The majority of companies require the car to be at least 15 years old. Some insurance providers require as much as 25 years and in a few cases more than 35 years old.
In order to qualify for collector car insurance, a driver must meet certain qualifications as well. Minimum age of a qualified driver is mostly 25 while the minimum driving experience is 9 years.
Once you meet the stipulations for your collector car insurance, you and the insurers agent will negotiate the car’s agreed upon value. Unlike a regular car which has its value set by automobile industry standard practices such as a blue book value or fair market value, you are permitted to determine the value of the car at the time of the writing of the policy. Whatever amount you and the agent agree to is the amount that will be paid to you in the event the car is a total loss due to an accident or theft|This amount, when agreed on between the insurance company and you, is the set amount that will be paid in case the car is a total loss as a result of a covered incident.
It makes good economic sense to find a reputable collector car insurance company to cover your prized possession. However, choosing a company that specializes in collector car insurance will give you the best coverage and maximum benefit Get your free auto insurance houston Quote Today.