There are things you need to know before you decide to insure your classic car with your regular car insurance company. Some companies don’t specialize in classic car insurance, and many agents know little about classic cars and determining their net worth. Though it may be easier to deal with your insurance company, it may end up costing you more money. The wisest thing to do is to check into several companies and find out how they handle specialty insurances. Some companies only insure the older, restored vehicles and are well versed in the value and the cost of restoration and replacement parts.

Owners of classic cars use them for a variety of things. Some owners primarily take them to car shows, while other just like the option of taking a cruise on a nice day. Each type of use may fall under different sorts of classic car insurance coverage. Ask your agent to explain what types of uses are covered under your current policy. The company may also offer different types of coverage that may be beneficial to you. Explore the best options so that you feel secure in your classic car coverage.

One of the most important coverage details to understand involving classic cars is what will happen in the event of totaling it. In the event that you are covered for the car’s actual cash value, it is only covered for a blue book price. You certainly do not want to find out the car you put thousands into is only worth a couple hundred dollars. Consider asking for an agreed-upon value from your insurance company. This means you tell your agent what you want to insure the car for and they agree to it. Be safe and get it in writing before you pay a premium.

Expect to pay a larger premium than you would for your everyday car. Insurance underwriters know that parts to fix these old classics are hard to find, therefore making it more costly to repair. Your car insurance premium will reflect that cost. Be aware that they may also ask you to bring the car to the office so they can inspect it and take photographs to keep in your file. This allows the insurance company to confirm that the classic car is indeed what you say it is.

A good classic car insurance agent will explain just what is covered before you agree to purchase the policy. To find the best coverage for you, seek out several quotes and talk to several agents about coverage before you make any decisions. A classic vehicle is an investment you will want to have insured properly, so there will be no surprises in the event of a claim.