Top Reasons to Purchase Classic Car Insurance

The biggest difference between a standard auto insurance policy and a Classic Car policy is that you will be paying more for the standard policy, since you are paying for a vehicle that is driven on a regular basis in this case. Most classic car owners only plan on driving their vehicle for the occasional parade or show.

Another major difference between classic and regular car insurance, and a reason why you should insure your classic car, is the way the value of your vehicle is determined. For example, a 1974 model of a car may have sold for $1400 when it was new, but dealers might now offer $15,000 for that vehicle. So, if the vehicle is totaled and you have classic car insurance, you can expect to receive what the car is currently worth. However, if you had insured that car with standard insurance, you’d be lucky to even get the original $1400 back.

Basically, it is much more cost effective to purchase Classic Car Insurance than it is to buy a regular auto insurance policy. The fact that a classic car is an older car means that it is vulnerable to high maintenance and repair costs. Purchasing a lower cost insurance policy means that you will be able to save money and put it towards restoration instead.

At Condon Skelly, we know how exciting it can be to start a classic car collection. We’ve been helping our customers protect their classics with affordable, industry-leading insurance coverage since 1967. We’re a group of collectors, enthusiasts, and professionals who specialize in insuring all types of collector vehicles. For more information, please contact us today at (866) 291-5694.

Collectible Car Insurance: Tips on Buying Classic Cars

When purchasing a car, there are many factors to keep in mind, such as gas mileage, insurance costs, etc. When buying a classic car however, there are even more important features and potential issues to keep in mind. Vintage and classic cars are a very fun item to collect for many people, however if this is your first time buying a classic car, it’s important to keep the following tips in mind.

Do your homework. Know what the classic car you are considering is actually worth. With the advent of technology and social media sharing, it’s really easy to get in touch with experienced car collectors who are “in the know”.

Don’t start with a rusty car. You may be able to replace panels or repair rusty spots, but once a car has rust, it always has rust. This is a sign that the car has not been taken very good care of, and you should probably pass on that purchase.

Check that all the parts belong to that car. This means looking at the engine, transmission, and rear axle to make sure they all link up to the vehicle’s VIN number. The transmission and rear end will usually be stamped with date codes, which you can look up to determine if the dates sync correctly.

Buy what you like. It’s easy to want to purchase a classic car that is being sold at a really good deal. However, if you do plan on taking any leisure trips in it, wouldn’t you want a car you’d truly love to drive?

Consider the color. You may be surprised by how much a rare color combination can drive up the value of a classic vehicle. It’s always wise to invest in classic cars that are one-of-a-kind.

At Condon Skelly, we know how exciting it can be to start a classic car collection. We’ve been helping our customers protect their classics with affordable, industry-leading insurance coverage since 1967. We’re a group of collectors, enthusiasts, and professionals who specialize in insuring all types of collector vehicles. For more information, please contact us today. (866) 291-5694

1. Do classic car insurance policies offer deductibles? – Yes. Usually there are a variety of deductible options. Because annual premiums are so low, many customers choose to have a zero deductible, but several different options are available.
2. Is coverage available seasonally?  – Definitely! At Condon Skelly we’re flexible to your changing needs. During the off-season when your classic vehicle isn’t being used, we’ll be happy to insure your vehicle for comprehensive coverage only.
3. What are Condon Skelly’s garage requirements? – When you’re not out driving or showing you classic or antique vehicle, we require that you keep your pride and joy in a fully enclosed, locked garage.
4. What is Agreed Value? – Agreed Value policies guarantee that in the event of a total loss – resulting from an accident, theft or anything else – you’ll receive your collectible vehicle’s full value. And you’ll know what that value is right when you file your claim, because it’s the value agreed upon when you set-up your policy.

The ’48 Tucker Torped0, also known as the Tucker Sedan. Only 51 copies were sold before a number of factors shuttered the Tucker factory, but the car still stood as a grand symbol of the time. An aspirational time for America – it was certainly a car with lofty aspirations of its own. Its enormous 589 cubic inch engine was daring, as was the styling, but the true innovation lay in the various and unique engineering concepts. The Torpedo was rear-engined, rear wheel drive, and had a third headlight in the middle of the vehicle that swiveled to illuminate the road when turning. Further, the vehicle was available with an automatic transmission, had a number of passive safety features, and had the gas tank up front. All of these coalesced into a brilliant design that would have revolutionized the auto industry, were the brand not put to death by circumstance and conspirators, namely the big three in Detroit.

1. Is coverage available seasonally?  – Definitely! At Condon Skelly we’re flexible to your changing needs. During the off-season when your collectible vehicle isn’t being used, we’ll be happy to insure your vehicle for comprehensive coverage only.
2. Do collector car insurance policies offer deductibles? – Yes. Usually there are a variety of deductible options. Because annual premiums are so low, many customers choose to have a zero deductible, but several different options are available.
3. What are Condon Skelly’s garage requirements? – When you’re not out driving or showing you classic or antique vehicle, we require that you keep your pride and joy in a fully enclosed, locked garage.
4. What is Agreed Value? – Agreed Value policies guarantee that in the event of a total loss – resulting from an accident, theft or anything else – you’ll receive your collectible vehicle’s full value. And you’ll know what that value is right when you file your claim, because it’s the value agreed upon when you set-up your policy.
5. How much insurance should I carry on my car? – You should always insure your vehicle to its market value or your most recent appraisal value. By insuring your vehicle to its market value, you’ll be ensured to receive its highest value in the event of a total loss. And your limits must be equal to the limits on your everyday car policy.

1. What are the eligibility requirements for collectible vehicle insurance?

Our classic car insurance eligibility guidelines are pretty simple. Your collectible vehicle’s primary driver must be a licensed driver for at least 5 years and have a clean driving record. (So rejoice! You have an excuse when your 16-year-old son asks to take over your wheels.) Every driver in your household must have a separate vehicle for daily use. You can’t use your pride and joy as an everyday vehicle or as a substitute when your regular car is in the shop. And when not in use, you have to keep your collectible in a secured garage.

2. How many miles can I drive my car each year?

As many miles as you like! We want you to have fun with your best friend, not limit your mileage. As long as your collectible vehicle isn’t your primary car, you’re covered for leisure use. So go ahead, show off your ride at club events and car shows. And by all means, drive it around town on a sunny day and even to dinner every so often. Your baby will love being taken for a spin.

3. Will you cover my vehicle while it’s being restored?

Of course! Restoration is vital to advancing your hobby and we want to make sure you’re covered while you (or anyone else!) is working on your collectible.