Purchasing car insurance coverage for a vintage car is a little different than purchasing car insurance coverage for a new car. Vintage cars can be difficult to appraise, which can lead to problems if anything should ever happen to the car. It is important to find an insurance company that is willing to work with you to determine the true value of your vintage models. Traditional car insurance coverage will provide you with far from satisfactory results if you are ever in the position to make an insurance claim.
Look for Insurance Companies that Specialize in Vintage Cars
Vintage models are usually defined as vehicles that are over 30 years old. If your car qualifies as vintage, you can have it insured by a company that specializes in car insurance for vintage cars. These companies can be found online and locally throughout the nation. The best place to begin looking for a good classic car insurance company is to talk to other vintage car owners. Most states have auto clubs where vintage car enthusiasts get together and talk about their cars. These are great resources for learning about insurance companies you can trust in your area.
Talk to Your Regular Car Insurance Agent
Many traditional insurance companies also offer vintage car insurance policies for people who own older cars. The insurance agent will probably not volunteer information about a vintage car policy, so you will need to ask if there is one available through the insurance company. Vintage car insurance rates tend to be higher than normal insurance rates, so be prepared for the high cost of insuring your classic car. You may find that an insurance company that deals with vintage cars on a regular basis can offer you better rates than a traditional insurance company that mainly deals with newer cars.
Establishing Agreed Value
The most important aspect of finding vintage car insurance is setting the agreed value for your car. Since vintage cars are not bought and sold on the regular market, their value can be difficult to determine. Talk with your insurance company about what you believe your car is worth and explain to them exactly why it is worth that much. They may require that you provide them with maintenance records and restoration receipts if you want to be reimbursed for the amount that the car is worth to you. It can be difficult to convince an insurance agency what a classic car is really worth, especially if it includes parts that are difficult or impossible to replace. The insurance company can't cover your emotional loss if the car is damaged, but they should be able to cover your financial investment.
