Owning a car is a pleasure to everyone but it is something more than a pleasure when it is a classic car. Classic car shows the passion and royalty of the person who owns it. As it is said that the antique commodities should be well taken care of, same statement holds true for classic cars.
Classic cars should be insured properly to minimise the damage cost during unforeseen circumstances. Prior to it, a clean picture of both insurances viz. classic car insurance policy and standard auto insurance policy should be there in classic car owners’ mind to obtain premium cost at better rates.
The major factor that differentiates the insurance of classic cars from standard cars is the valuation strategy. Classic cars, for insurance, should be 15 to 25 years old. The classic car insurance rates depend on mileage limits, crossing which can lead to the cancellation of insurance.
The classic car owner should know the concept of valuation i.e. actual cash value and agreed value when comparing the market for insurance quotes. In case of actual cash value, the insured receives a little amount due to the deductions made for the age, condition and
mileage of the car. On the other hand, the agreed value is primarily mentioned by the insured provided that the insurer must agree with it. The insured should prepare all documents, photos and price comparisons before approaching to the special insurance company.
As a smart consumer, before sticking to any insurance, you should go through various companies’ portfolios and policy restriction, and assure yourself with a safer future of your classic love.
Compare classic car insurance online will help you in getting accurate information associated with agreed value. You can also discuss with a known expert to ensure purchasing the policy at an affordable price.
