Finding Great Car Insurance For A Rare Or Discontinued Vehicle
Finding the best car insurance for your rare vehicle depends greatly on matching your policy as closely as possible with the way you actually use your car. Factors to consider include how much you drive your car, the type of vehicle, how you care for your vehicle, your personal background, and the agreed value of your car.
How much you drive your rare car matters. In order to qualify for rare vehicle car insurance, your car must not be used for commercial purposes and must not be your primary vehicle. If you only drive your car to shows, then make sure to negotiate a price that takes that into consideration.
While your car must be at least 15 to 25 years old to qualify for rare vehicle car insurance, the age at which your car qualifies will vary from state to state. Because there was in increase in automobile production in the 1970s, only certain cars made after 1974 will qualify. Foreign cars, convertibles and certain classic "muscle cars" are among those that qualify.
Take good care of your rare vehicle and make sure that it is stored in a secured garage and not on the street or in your driveway. This may seem common sense, but some insurance companies may insist that you store your rare vehicle in a commercial facility designed specifically with antique cars in mind.
Minors and people with spotty driving records are routinely disqualified from rare vehicle car insurance. Even if you have a clean driving record, car insurance companies want to see a history of good driving that only someone who has been driving several years can display.
Perhaps the most important factor to consider from the standpoint of receiving full recovery in the case of loss or damage is that you get a policy for an "agreed value" of your automobile. The agreed value of your car is the value you and your insurance agent agree will be paid for your claim. This differs from "actual cash value" and "stated amount" of your vehicle. Most standard car insurance policies offer actual value, but that does not take into consideration that your car is a rare vehicle and not just an old vehicle. Stated amount value states a maximum amount to be paid out for recovery, but there is no guarantee that the pay out will cover the cost to repair or replace your vehicle.
Try to find a company already familiar with the terms mentioned in this article and specializing in rare vehicle car insurance. A good place to start your search will be a visit to a local car club familiar with your particular type of rare or discontinued vehicle.