Keeping up with several monthly insurance payments can be a pain. A couple of years back, I found a way to simplify the process. By purchasing my home, life, and auto insurance with one provider, I went from three to one monthly obligation to track. It did take a little while to find the right provider. Even then, I had to compare different plans, and work with an agent to create the bundle. Now that it is in place, there is no doubt that managing the household budget is easier. If you are wondering about insurance bundling, let me share how I did it. Before long, you will also enjoy the peace of mind that comes with knowing you are covered and what it feels like to deal with only one monthly insurance payment.
Whether you are preparing for your first classic car purchase or you have several, you should know the importance of having your classic cars insured properly. Some think that they can use their regular auto insurance to cover the vehicles. Others think that their home insurance will help out since it will be a garage-kept car. Unfortunately, neither of these situations are true and these people often learn the hard way. Continue reading to learn more about how you can be sure that you classic beauty is properly insured.
Standard Auto Insurance
Chances are, you aren't going to be driving your classic car regularly, which is why you don't want standard insurance on it. Furthermore, most auto insurance companies will not offer you a standard policy on a car that is considered an antique or classic because of its age. If they did, you would have a lot of extra coverage such as collision that you won't want to pay for.
Classic Car Insurance
Instead of purchasing a standard policy, you need a collector's policy. Some companies will require that you only use your car as a showpiece, but others are more lenient and will cover additional uses, but not daily use.
Tips for Obtaining Classic Car Insurance
Follow these tips to help you obtain classic car insurance and you will be pleased with the outcome:
Know that this policy is specialty coverage. It is not your standard auto policy, so don't treat it as such. You may be required to provide more information when you set up your policy and you may have restrictions that you don't expect on mileage and vehicle usage. Don't be surprised or discouraged by this, as it is normal.
Ask for clear explanations. Your insurance company can confuse you if you don't listen carefully and make sure that they are clear with what they are saying. For example, be clear on what value your car is insured for. It shouldn't be the "book" value as normal cars. It is usually called the Stated or Agreed Value. Basically, tell your insurance company the value and they agree or disagree until a value is reached.
Understanding the purpose of classic car insurance and being aware that standard policies won't cover your car the way that you need will help make sure that your investment is protected. For more information, contact Legends Insurance or a similar company.Share