Protect Your Vintage Automobile With the Proper Classic Car Insurance Are you one of those people who have taken a long time and worked to reconstruct a classic car? Or perhaps you inherited or purchased an antique car. It is essential that you do everything you can in order to make that this car is protected. How does your classic car function in terms of auto insurance? Did you know that classic car insurance differs in the coverage it requires? Regular cars are valued less every year. Antique or classic cars, however, not only hold their worth but also gain in value. So you want to find a classic car insurance policy that protects the total value of your auto. You want an insurance policy that offers ""agreed value."" That means you and your auto insurance company, assess the monetary value of your vintage car and, in the event of a total loss, you will be paid that precise sum. How do you ascertain the assessment of your motorcar? You can employ an appraiser, but, if you have a stock original vehicle that has had no modifications or additions, there are many resource guides and pricing guides that will give you a true estimate of your car's measure. If you've made meliorations or additions to the car that you believe augment its value, you need to engage an authenticator to support your claim. If you buy an automobile insurance policy that outlines an involuntary value appreciation, you won't have to review your insurance as much. Some carriers automatically increase the vehicle's economic value by 2 percent every 3 months, up to 8 percent each year, at no extra cost. If, however, you don't have this option, you should go over your policy and your car's value on a yearly basis to be sure you have sufficient coverage. Both you and your car will have to meet certain qualifications to buy classic car insurance. Perhaps most monumental of all is that you have no negative reports on your driving record. You'll also have to establish that all the drivers in your household have access to some other vehicle for daily driving needs. Vintage car insurance underwriters will restrict the number of miles you can drive each year. In addition, many insurers will call for the principal proprietor and driver to have a minimum of five years' driving experience. Classic car insurance is much less expensive than average car insurance because of the limitations. The financial obligation portion of your vintage auto policy may cost less than $100 per year, because you won't be driving the car very much and, when you do, you'll be driving it very cautiously. The physical-damage portion of your policy, the part that protects you from theft, vandalism and fire losses, will be more expensive and equals approximately 1 percent of the total evaluation of the car. Some companies offer additional protection unique to classic cars, such as ""restoration coverage"" which increments the value of the car while an active restoration project advances, ""auto show medical reimbursement"" pays if you're injured at an auto exhibit or other car affair, and automatic coverage for new classic autos you add to your accumulation.
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