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There are certainly countless specialists that handle automobile coverage but the insurance needs for those who own classic cars may not have such a large selection to choose from. Especially for rare and collectible cars, owners want experts that have extensive knowledge on how to protect such a valuable investment. Most antique car owners are adamant about safeguarding their prized vehicles so the best possible option to find classic car insurance is online. Get started now by entering in your ZIP code and receive FREE car insurance comparison!

Although it is quick and easy to find classic car insurance quotes online, not every option is a reasonable one. In order to find a policy that will meet every need for a fair price, shopping for more options is crucial. Learn more about what information is used to calculate classic car insurance premiums and what factors to look out for when deciding.

Personal Information

  • • Age and gender
  • • Marital Status
  • • Occupation
  • • Existing insurance policies
  • • Location of residence
  • • License history
  • • Accidents and claims

Always keep in mind that a larger part of the premium calculation is based on the driver’s personal details. For instance, young or inexperienced drivers under the age of 25 are not likely to find a low price for insurance. In addition, the track record of the driver’s license will also be a major factor in premium amounts as well as the location of residence.

If the driver lives in a high traffic or an area prone to accidents then the rate will inevitably be high.

More details such as marital status, current policies in place, and occupation can make a positive or negative difference. Insurance companies will review the number of claims made with previous policies. A high number of accidents and subsequent claims prompt higher premiums.

Vehicle Details

  • Year, make, and model
  • Current condition
  • Location of garage
  • Safety features
  • Theft prevention
  • Estimated mileage per year

Aside from personal details about the driver on the policy, certain information about the vehicle itself will also determine the price of the premium. The most pertinent fact is the make, model, and year of the classic car. If the car is extremely rare and manufactured a long time ago, it will be higher to find parts and repair in the event of an accident. This minor detail could result in a major hike in insurance premiums.

A smart way to find lower premiums for classic cars is to implement safety measures that will be considered mitigating factors for insurance companies. Small additions such as airbags, theft prevention, or daytime lights certainly make a difference because at the very least, there is a decreased chance of an accident or major claim to the policy. It is much easier to find low insurance rates for classic cars if the vehicle is in mint condition.

The less obvious factors that insurance companies review are the garaging location and estimated annual mileage. A classic car that is parked in a safe area and protected by alarm systems will receive a drastically lower rate than one that is parked on the street with virtually no protection. In addition, if the rate of vehicle theft is high in the area then even having the car in perfect condition will not save much on premiums.

Factors to Consider

  • Level of coverage
  • Value depreciation
  • Deductible amount
  • Designated repair facilities
  • Flexibility
  • Restoration costs

Before making a final decision for classic car insurance, consider some important factors. The first thing to consider is the level of coverage and whether it is sufficient for the total value of the vehicle. Unlike regular automobiles, classic cars will actually increase in value over time instead of depreciating with use. Make sure to verify if the insurance policy will cover the entire value of the car even after its worth has increased.

Many insurance companies will designate certain repair facilities that are authorized to fix a classic car.

Simply because a regular mechanic may have the skills and parts to complete the work, the insurance company will not reimburse the expenses if the facility is not approved. This can be a problem for many classic car owners who only want one expert handling their priceless automobile.

Common Restrictions

  • Bad driving record
  • Length of driving experience
  • Dangerous parking location

Many different factors can affect the price of classic car insurance but insurance companies may refuse or implement restrictions on coverage. A bad driving record with a high number of violations can preclude low prices but also eligibility. Also, if the driver is fairly inexperienced or only recently got a license then insurance companies will not likely take such a high risk.

Another restriction is the long-term parking location for the vehicle. Insurance companies do thorough research into the parking location before quoting a premium. If the area has a high number of car thefts then consider looking for a safer place to garage the classic car. The best way to obtain cheaper classic car insurance is to have a relatively clean driving record, sufficient years of experience, and a safe area to park.

Why Find Classic Car Insurance Online

Aside from the convenience of getting free classic car insurance quotes online, the ultimate benefit is the available options out there. Instead of wasting time walking into different insurance agencies look for one place to compare rates from all the major companies. This will ensure a better deal and proper coverage for any classic car. Simply enter your ZIP code into the FREE tool now!

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