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Classic Car Insurance

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Falling into a designation of its own, classic car insurance is a policy to cover cars which are classed as classics. This is not a standard coverage comparable to that of a general family car insurance policy, it is something that offers complete and full coverage to cover their prized asset. But before your vintage car can be underwritten, certain criteria needs to be met in order to qualify.

An insurance company will consider a car which is over 15 years old to fall into the category of being a classic. This figure is not set in stone as some states in the US will require the vehicle to be over 25 years. The first step in finding out whether you can obtain classic car insurance is to check on the age requirement.

Much stricter quality rules will apply to classic car insurance, which expands beyond just the age of the car. Age of the driver along with an experienced record of driving needs to be held to get this special type of insurance. Annual mileage done in the vehicle will also play a factor, as there will be limits as to how many a classic car may do to be underwritten.

One other entry requirement to get classic car insurance will be how securely the car is stored. The Insurance company will want to protect its assets of your premiums, just as much as you will want to keep your car safe in the first place.

Value of the vehicle will also be important and this is something that will need to be agreed upon between the Insurance company and the customer. The usual rule of thumb is that both parties agree on that price which will be incorporated in the classic car policy. This figure is important because it will be the value at which the cover for your car will be set at.

The age of the driver will need to be at least 25 years in most cases with a minimum amount of years driving behind them. It is more than likely you will need to have a clean driving license too, with no offences. This is something that will be rigorously checked by the insurance company.

In regards to how many miles per year the classic car will be able to do, it may simply come down to the car itself. There is no set statute on this, as some insurers may permit up 5,000 miles annually, and others may allow a higher figure. The owner can also choose to have less mileage on their policy, which will help in reducing the overall premiums payable on a policy. The limit on miles covers general use and not activities classed as hobbies or pertaining to car clubs and shows.

Whilst insurance companies may offer classic car insurance, it may well be worth looking around to find a dealer which specializes in classic car policies. This way you may be able to get a lower premium as they will have expert and knowledgeable understanding of your car and the needs you have for it.


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