Classic cars have been defined differently over time depending on the age and make of the car. Most insurance companies however classify them as vehicles older than 25 years that are still in a well maintained condition. These vehicles fall in the collectibles category and their insurance depends on several factors such as the age of the car, make, design and other factors that the insurance providers may ask e.g. the security of the car, driver’s age and level of experience e.t.c.
When insuring classic cars, the main issue is usually the vehicles security. This is because the vehicles are very rare and thus attract security threats. This is why one is advised to take up a comprehensive cover to ensure that the vehicle is well secured. However, this means that classic car insurance is very costly and thus out of reach to a significant majority. There are several things that one may do to ensure that the rates of insurance are lowered. These may however, vary from company to company.
The first advisable thing is to ensure that you have the vehicle kept in a secured garage. The insurance company may make specific demands on the level of security in the garage and may ask you to put steel doors, 24 hour surveillance or alarm systems to beef up the security. Another measure that you may use is to ensure that you minimize the use of the classic car. It is advisable to have another car for daily use. In fact some insurance companies will inquire whether you own such a vehicle to determine your premiums.
Insuring classic cars may be expensive but it does not have to be difficult to find. Check out classic car insurance quotes and compare them before choosing the one you need. Who knows you may end up paying less!