Getting Classic Auto Insurance, the classic car market is booming, despite what many nay-sayers have been forecasting in recent years. In fact, over 5 million classic, antique or vintage vehicles are on the road, and many more remain garaged. Evidence suggests that classic car collecting is by no means fading away. Classic vehicles remain an attractive hobby for many individuals with the discretionary income to spend on these often pricey investments, because of the heritage, community and recreational nature of auto collection. In fact, the internet has transformed the classic auto market, making it much easier to find and buy classic cars, source parts and it’s bringing owners together for community events, discussion groups and chatter about their passion and interest.
Those interested in classic cars understand the worth and value of these vehicles, as well as just how important it is to protect these assets for a variety of exposures. Whether in the shop, at a show, or out on the open road, classic cars have unique insurance needs.
Here are a few quick tips for securing a strong Classic Auto Insurance policy:
Get a quote. According to reports, over half of collectors don’t bother to get a classic car insurance quote from a specialty auto insurer, and end up paying much more through their standard insurance provider.
Know what it’s worth. Have your vehicle appraised to assess it’s current and projected market value. Doing so will help you determine just how much coverage you need to attain based on your vehicles worth.
Think ahead. While a traditional car insurance policy is determined based upon the value of your vehicle decreasing over time, a classic auto insurance policy is enacted on the basis that the value of the older vehicle will appreciate over time. Coverage should be high enough to cover the growing value of the vehicle and its parts.
Pay what you can. Deductibles should reflect your ability to pay for losses out-of-pocket. The higher your deductibles, the lower your premium rates will be.
Drive safely. According to industry data, a single traffic violation or ticket can raise a premium from 10-20 percent, even for classic car owners.
Invest in vehicle tracking. Unfortunately, it is not uncommon for classic vehicles to go missing. Tracking products can greatly improve the chance of vehicle recovery and can often save vehicle owners money in the long run.
At Condon Skelly, we know how exciting collecting exotic, classic and sports cars can be. That’s why we specialize in offering complete classic auto insurance. We’re a group of collectors, enthusiasts, and professionals who specialize in insuring all types of collector vehicles. Our team is as passionate about protecting your vehicles as you are about collecting them. We can help you secure affordable, industry-leading specialty car insurance coverage to protect your classic, antique, or exotic vehicles. For more information about our classic car insurance, contact our specialists today at (866) 291-5694.