How to Find the Best Auto Insurance for a Classic Car Tips for Finding Cheap Antique Car Insurance

How can one find the best auto insurance for a classic car? Is it even possible to find cheap antique car insurance? Classics cars can be well worth the sometimes pricey cost of upkeep and storage – there is no need to have to pay more for insurance coverage than necessary. Read on to learn some of the things that you should know before you purchase a classic car auto insurance policy.

Who hasn’t turned their head while driving down the road to get a better look at a classic or collectible car? We’re enamored with the lines of the car as well as its pristine condition. But the detailed attention in maintaining a classic car’s flawless appearance and operation is not only to draw admiring looks, it is also necessary in order to keep up the market value of the car. For this reason, along with others, specialized classic auto insurance policies were developed to meet the needs of classic and collectible car owners.

Another reason (a very important reason), for insuring your vehicle as a classic or collectible is the greatly reduced cost of classic car insurance relative to standard auto insurance. Standard auto insurance can cost as much as 200%-300% more than classic auto insurance. So, what is the biggest factor that causes such a great disparity in price between classic auto insurance and standard car insurance? Generally, collector vehicles are driven on a limited basis (the garage is where they are usually found). As a result, the risk of accident and loss to collector vehicles is considerably lower than the risk involved in vehicles that are regularly driven.

DOES YOUR VEHICLE QUALIFY?

The following is a list of classifications for collectible cars.

  • Antique cars – 25 years or older
  • Custom cars – 1949 to present
  • Classic cars – 20-24 years old
  • Collectible cars – 15-19 years old
  • Exotic cars – less than 15
  • Street rods – Pre-1949

This is the standard listing for those cars that are considered eligible for classic car auto insurance, but certain cars may be accepted at the discretion of the insurer. Sometimes, classic car insurers will customize an insurance policy for a particular vehicle.

WHAT ARE THE RESTRICTIONS ASSOCIATED WITH COLLECTOR VEHICLE INSURANCE?

To keep collector auto insurance rates low, certain usage limitations are placed on the insured vehicle.

Cannot be used for everyday use. This rules out using it to drive to work, run errands, or go out for that bite to eat. Under a classic car insurance policy, car usage should be limited to driving to and from car shows and the occasional parade.

Cannot be driven more than 2,500 miles per year. 2,500 is a fairly standard number among insurance companies that offer classic coverage, but there are some insurance companies that have mileage plans that allow up to 5,000 or 6,000 miles per year. This increased mileage limit was put in place to accommodate those drivers who like to take their cars to distant car shows. Of course the premiums are greater.

Must be kept in a locked garage. A locked enclosed trailer will also do, but a carport will not meet the grade even if you live in a gated community with a security guard. (The weather is also an enemy of the classic car). Some policies might stipulate that a car cannot be left unattended in a parking lot. This means leaving your car in a motel or hotel parking lot might present a problem.

WHAT CONSIDERATIONS SHOULD BE KEPT IN MIND WHEN CHOOSING CLASSIC AUTO INSURANCE?

Does the company offer Agreed Value Coverage or Stated Value Coverage?

Agreed value lets the classic car owner and the insurance agent set a value for the auto that does not necessarily reflect the market value for that car. Usually, the insurance agent will have to do a thorough inspection of the car both inside and out and will require photos of the vehicle.

What are the usage and mileage restrictions?

Find the policy that best suits your plans for using the car. Why pay for a plan that covers mileage for 5,000 when you know that you won’t even come close to using the 2,000 miles available in a cheaper policy.

Can you choose your own repair shop?

The Mom and Pop shop down the road might do a good job on your regular car and offer the lowest repair bid in town, but do you really want them working on your classic “baby”?

What company underwrites the policy and what is the rating for that company?

You want to be sure that the underwriter has a good track record and is going to be able to fulfill all of their obligations even if for some reason there is a larger than normal influx of insurance claims.

Are there any discount programs available?

A good insurance company should always inform you of any discounts that are available to you, but it doesn’t hurt to ask.

Does your insurance offer insurance for classic or modified cars that are under construction?

Some companies will monitor the progress that is being made on your vehicle while it is in the garage for repairs and modifications and allow you to adjust the value of the car as the project continues. Also, this type of insurance covers damages to your auto in case of a catastrophic occurrence such as a fire, or the hydraulic lift fails, or the tool cart falls on your car (with a little imagination the possibilities are endless.)

WHY CAN’T I JUST ADD MY COLLECTOR CAR TO THE FAMILY AUTO INSURANCE POLICY?

You can, but it could be a costly mistake. If repairs are needed you may be forced to accept the lowest repair bid, or if the car is badly damaged, the insurance company could opt to have it totaled. And although a discount is usually given for cars combined under one policy, that discount still may not provide the savings available if the car was insured under a classic auto insurance policy.

Finally, make sure your insurance company has a good understanding of classic cars. In the event that your car is totaled, you want to be able to work with a knowledgeable representative and receive the full value for your car.

A website like go-collision.com will provide you with the highest quality in the industry.

Learn How To Buy A Car And Car Insurance Without Breaking Your Budget

Do you ever wonder why different cars cost you different amounts for auto insurance premiums? Why is it that a new Corvette may cost you $1,600 dollars a month in auto insurance and an older Buick Regal may only cost you $90 per month? The new car insurance cost versus the old car insurance cost is a subject that you must review before you buy any car. Review insurance costs before you buy and you will not get caught in a financial trap.

New cars cost more to insure than old cars for three reasons. First, an auto theft of a new and exotic car costs much more than the auto theft of an older and average style car. This is because of the large value difference of the new car versus old car. For example, a new Chevy Caprice is much more costly to insure than an older Chevy Caprice. It simply costs more money to replace a new, expensive car than an older, less expensive car.

Second, the cost to repair a new car is much more than the cost to repair an old car. As such, this fact shall also increase your insurance premium cost for a new car. For example, if a new Chevy Caprice is damaged in an accident, the auto repair shop will charge you much more money for repairs than if the subject car were a ten-year old Chevy Caprice. For this reason, your insurer will charge you much more insurance premiums on a new vehicle than an older vehicle because of such repair costs.

Third, the style and type of car also shall greatly affect the cost of automobile insurance premiums that your car insurance company will charge you. Insurance companies use actuarial statistic tables which show them the past loss experience on particular styles and types of cars. They use these tables, to help calculate what premiums to charge their customers in the future. Statistical tables show these insurance companies that owners of certain styles and types of cars, such as sports cars, engage in more risky driving behavior than owners of cars that are of average type and style.

For example, insurance company statistical tables show that the insurer has experienced more losses with sports cars than with average cars. It is because the owner of a Corvette will probably drive such car faster and riskier than the owner of a Toyota Camry. With such speed and risk also comes along more losses for the insurance companies. With such risk and loss increase, the insurance company must then increase their return and charge more for auto insurance premiums.

Another example of how the type and style of vehicle may present an insurance company with more risk is the off-road style vehicles such as the Hummer line of vehicles. These vehicles are designed to perform in the off-road type environment. They are raised up off the ground more than regular automobiles for under carriage clearance. Additionally, they also have four-wheel drive capability.

With such design capabilities, the statistical tables show that the insurance company has experienced more losses with these types of cars than regular cars. This is because the owners of such vehicles will engage in off-road driving which is both risky to the vehicle and driver. In fact, some insurance companies may bar recovery for such damages, when the owner of the insured vehicle was damaged while any engaging in risky, off-road driving. Again, with more risk, the insurance company will increase return and thus auto insurance premiums. Now that you know that certain styles and types of cars cost more to insure than others, you have to be smart about what kind of vehicle you are going to buy.

Rather than take a guess at what you believe a vehicle’s insurance costs are, call your car insurance company and ask your insurance agent for a free car insurance quote for the exact type of vehicle that you are interested in buying. You can get a definitive answer to your question of whether or not you can afford both the car and the insurance premiums required to cover your car against insured losses.

The time to make such assessment is not after you purchase a vehicle. At that point in time, it is too late. The time to make such assessment is way in advance of your purchasing an automobile. You definitely want to be able to make both car payments as well as insurance premium payments. Get a free auto insurance quote ahead of time and avoid financial problems.

Article Source: http://EzineArticles.com/6287028

Purchasing the Best Car Insurance

In the past, car insurance was not a necessity, as some people went for it and some did not. However, today an auto coverage policy is one of the crucial things in your life, if you own a car. People need proper coverage, no matter how luxurious or modest their car is.

The way people buy insurance has also changed. In the past, buying a car insurance just meant to meet your neighborhood agent and ask him for it. But now, it is somewhat different, as you have got lots of other options at your disposal from where you can get your vehicle insured, with some entirely new coverage choices.

Buying car insurance: Which method to choose?

When you want insurance for your car, you might be puzzled as from where you should get it. Should you deal with an insurance agent or should you go online? You can choose among different options for getting your car insurance. This includes:

Buying from captive agents
Buying from independent agents
Buying online

People, who prefer personal services and like to form face-to-face relationships, should certainly purchase their policy from an agent. But, since there are different agents, they need to decide which one is the best for them.

Among these, some are called ‘independent agents,’ who sell insurance for numerous companies and some are ‘captive agents,’ who sell insurance for just one firm. Let us see the different features of these agents, so that you can decide easily and quickly the right agent for yourself.

1. Buying from captive agents

You should buy your coverage from a captive agent, if you are dedicated to a specific insurance firm. Since captive agents deal with only one company, they will know all the different insurance options offered by that company. And, thus they can assist you to build the right package based on your needs. However, captive agents may take more time to respond to your questions and to know your needs as compared to independent agents who work for commission.

2. Buying from independent agents

You should buy a policy from an independent agent, if you want to check out the different insurances provided by different companies, as independent agents deal with several companies and not just one particular insurance firm. This way you can get a better rate.

And, since independent agents are not directly employed by any one firm, they would not push one specific product and will tell you the right things about all the insurances. Thus, independent agents can aid you to find inexpensive coverage for your car. However, since they work for commission, they are under more pressure to grab a deal as soon as possible.

3. Buying online

The third option is to skip insurance agents completely and to work directly with the company online. However, for this you have to do most of the work yourself. You have to conduct a thorough research on different coverage providers, what they offer, the rates of their insurance, and what all their policies covers. Then, you can talk to the company, that best fits your needs to procure the coverage itself.

Among these, some insurance companies that employ agents do not necessitate you to work with them and a few of them do not employ agents at all. Buying auto insurance online is one of the best options for you if you do not have much time and want to get inexpensive car insurance, as it saves you from paying commission to an insurance agent. If you are not sure about your car insurance needs, then buying car insurance online, without an insurance agent can cause you to buy the wrong, too little, or too much insurance.

Select your type of coverage

Besides deciding which company to go with, you must also consider which policy you want. There are three main types of policies, including traditional, usage-based, and per-mile car insurance. So, have a look at these three car insurance coverage programs before you settle for one particular car insurance.

1. Traditional auto insurance

In this type of auto insurance, the insurers determine the quotes for the policy with the help of various personal factors, such as your age, driving history, gender, credit score, etc. Generally, the more risk you have as a driver as per these factors, the more high your insurance rates will be. In this, you can opt for a minimum coverage amount as per the state law or else you can select from a long list of different types of auto insurance coverage.

2. Usage-based auto insurance

As opposed to the traditional car insurance, where insurers presume your driving skills depending on a list of different risk factors and your accident history, usage-based car insurance providers offer you car insurance by seeing you in action in real. In this type of car insurance, like Allstate’s Drivewise or Progressive’s Snapshot, you get a telematic device, which you have to plug-in your car. This device records how you drive and your driving behavior, especially your bad driving habits like accelerating or hard braking.

So, if the device records that you are a low-risk driver, then you can save your money with usage-based car insurance. However, if it records that you frequently drive late at night or you drive fast, then it would not help you save money with your car insurance. Additionally, many usage-based car insurance programs are not available in each state. Therefore, if you are devoted to one insurance company, then you may have to switch your company, in case you move to a different state.

3. Per-mile auto insurance

Per-mile auto insurance providers also use a telematic device, but they focus on just one thing, that is how little or how much you use your car. However, this car insurance type is still new and is not available in every state. Among others, Metromile is the best provider of per-mile car insurance and is available in seven states until now, which are California, Illinois, Oregon, Pennsylvania, New Jersey, Washington, and Virginia.

Additionally, per-mile providers use the same elements as traditional insurers in determining your car insurance rates, but you can save some money through its telematic device. If you do not use your car much and use it only for emergencies, then your premium may be cut significantly. However, if you normally drive your car, then there are fewer chances of you saving money from it.

Shop around

No matter how you purchase your insurance, whether you go for a dedicated agent or you directly sign up with a car insurance provider, you must shop around in order to get the best rates. Do some homework and do not just settle for the first deal that comes your way. This is because rates for the same policy can differ from one company to the other by thousands of dollars. Therefore, comparing different car insurance offers is the best possible way to land up a good deal.

Taking the time to pick the right insurance coverage can definitely save you money and hassle down the road. Buck and Affiliates Insurance can help meet your auto insurance needs in the Spokane, Washington area.

Article Source: http://EzineArticles.com/9392201

Affordable Car Insurance Policy

Health Fitness ArticlesIt helps to give the financial support if any of the part of car is damaged due accident whether it is man made or natural. This has been shown that it is very important to have the auto insurance policy because it will help you to get out of trouble all the time. Car insurance can take care of your lot of problem.

The only thing you have to do is to find the best auto insurance policy. The best way to get the cheap auto insurance policy is online as it will help you to get the different auto insurance quotes offered by different auto insurance companies on their websites and allow you to compare these quotes in order to get the best and affordable auto insurance policy. All kinds of services are offered on the internet.

Before starting your research you have to search firstly how much cover you are looking to purchase. The simple and painless process for you is to look for the websites that provides you the tools that allows plugging the services and numbers that you have written down. The most important thing that you have to consider is to make sure that you are dealing with the reputed car insurance company. Another thing that you have to make sure that the car insurance company is providing you the full security on the internet as it will be dangerous to provide the personal information on the internet. Many of the car insurance companies take the full guarantee to secure your personal information.

Another ways from where you can get the cheap car insurance are by asking for discount and you will get the discount if you follow the certain rules as if you are a clean driver and have no speeding ticket then you can easily get the discount on your car insurance policy from the car insurance company. The area of location in which you live also determine the rates of your car insurance policy as if your living with in highly populated city than you have to pay higher premiums and if you are living in less populated area than you have to pay lower premiums.

Learn Everything about Gap Car Insurance

Basically, it provides the coverage against the difference between market value of car and loan amount. But aren’t the two same that’s what you might be asking yourself. For example if you buy a car at $25,000.As soon as the car gets out of the showroom it’s cost get depreciated by almost 20%., so now your car worth is about $20,000.Now in case you met with an accident and you do have the full coverage including comprehensive and collusive coverage you will still get coverage on the present market value of the car and that is $20,000.So what gap car insurance is doing is that it’s covering the $5,000 difference.

There are different kinds of gap car insurance policies available in the market. Some provide covers in case of theft, losses and some don’t, so try to find what is exactly covered in the policy. Getting gap insurance is a good idea if you are buying a new car and if you think that you can’t cover the difference between the market value of the car and the loan amount. Also remember that older cars are not covered under it, in most cases.

Although getting a gap car insurance is not necessaryHealth Fitness Articles, but think it could help you in case your car get damaged in an accident or even in case of theft shortly after the purchase.

It is important to know that if you are buying your car from a dealership and decide not to take gap car insurance at the time of purchase of the car along with regular car insurance then you might have to pay a higher price for it later on.

Before buying a gap car insurance check whether this insurance is contained in the existing policy. You never now that it might be present there and then you do not have to buy it separately. If it is not included then just give it a thought that whether you really want to get it or not.