Vintage Car Insurance The Easy Way

Expensive, high maintenance, status symbol and glamorous are some of the epithets associated with classic cars, but in reality there are many old motor vehicles that do not belong to this stereotype.

A lot of owners feel that a cherished Austin A40 that is parked in a supermarket is similar to a 'Classic Car' like a Mark Jaguar at Ascot. Such historical and exotic vehicles can be generally described within three categories, for which classic car insurance can be used. The three categories are:

  1. Vintage cars: cars that were manufactured between 1903 and 1933.
  2. Veteran cars: cars manufactured before 1903.
  3. Classic cars: cars manufactured before 1973 or at least fifteen years back.
  4. There are a lot of variations in the definition of a Classic car and it depends a lot on the insurer. Any special insurance product is not at all offered by most of the major motor insurance companies. They just provide the simple insurance cover that is provided to anyone who drives a modern car. There are certain tips that can be followed for vintage car insurance:

  • There have been reports in the motor press that insurance for classic cars is cheaper as compared to modern car policies, but every classic car owner needs to know that it calculates mileage that is limited and how the vehicle has been raised in ideal circumstances.
  • There is a lot of dramatic variation in the scarcity and condition of classic cars. The value of the car that is perceived by the owner is mostly different from the evaluation of an insurer. The time for agreeing with the evaluation would be before a claim and not after that.
  • If an owner wants the best deal then he or she needs to contact a specialist insurer. The specific insurance schemes that they may be having are tailor specifically to meet the requirements of the owners. The rates offered by specialist insurers are usually better than the rest.

Agreed evaluations

An agreed valuation can be considered as the value that is guaranteed by an insurer in case the vehicle gets stolen or damaged so badly that it can not be repaired. If you own a vintage car and want to get a vintage car insurance then make sure that you have checked that the valuation is guaranteed.

This needs to be done because there have been instances when an insurer refused to make the payments of the full amount even if the owner believes that they were fully recovered.

Source by James Lee Tam

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