Auto Insurance

Are you one of those lucky antique car owners? Do you like going to local meetings were people display their antique cars. Maybe you like to take your antique car to parades or national car shows? If so, how do you have that car insured? Are you paying for insurance coverage you don’t need.

Did you know that there was a special insurance for your antique car? It is much less than what you would pay for regular car insurance. The reason is that antique car insurance assumes that you are not driving your antique car on a regular basis or even for joy rides. So even though the insurance is affordable they do have certain restrictions. They must not be driven for leisure, although the can be transported and displayed for show. They may allow you to drive them in parades but not to cruise down the beach in.

The storage of the car may also come into play with antique auto insurance. Most companies require that it be kept in a locked garage or storage facility when not in use. Keeping it under a tarp in the backyard may not be protection enough. Remember, these older cars are impossible to replace so the antique auto insurance provider wants to be sure that the risk to the car being stolen or vandalized is kept to a minimum.

So, if you only take your car to special events to show it off you may qualify for a reduced car insurance rate. You’ll have to prove to the insurance company that you really only use it as a show car. If you happen to have an accident in it while driving to work, you can expect the insurance company to deny coverage. You can expect they to strictly enforce the policy rules.

There is a difference between classic cars and antique cars. Classic cars are only 15 years old where antique cars have to be at least 10 years older than that. You may see a variety of cars at car shows such as muscle cars. These types of cars are maintained for their looks and speed. Their insurance is much higher because there is a higher risk for damage on these type cars as compared to antique cars.

If you have an old car you’re proud of, consider getting antique auto insurance so that it doesn’t need to just sit in the garage. Shop around a little to get a good deal. It isn’t as expensive as you may think it is. Since the car is driven so infrequently there is not much risk for the insurance company so they don’t charge as much as they do for your everyday car.

Before you you make your next year’s car insurance payment make sure you look at Rob Gormly’s fantastic report on how to save 10% to 30% every year on your car insurance payment with the information your broker doesn’t want to tell you!