Classic cars are very old cars having great historical value. Most of the time, these cars are self driven by the owners and not by drivers. This is because the owners take pride in owning these classic beauties. The value of classic cars increase with time therefore it is wise to insure the classic car properly. These old cars can be divided into three categories based on their year of manufacture. The cars which were built before 1903 are termed as veteran cars. The cars which were built between 1903 and 1933 are classified as vintage cars and cars which were built after 1933 and before 1973 are classified as classic cars.
As general criteria, all cars which are more than 35 years old are often termed as classic cars. It is imperative that you insure your vintage or classic car against all types of damages and thefts. You can easily buy a car insurance policy from your local agency but it is recommended that you buy a vintage car insurance policy from a company which specializes in insurance of these types of cars.
It is also very important to find the right insurance agency for your classic car insurance since this company should be able to get a proper value to your precious car. The insurance company will examine your car and put a value known as agreed upon value of the car. This aspect of the policy is critical since this is the amount of money which you will get from the insurance company in case of theft beyond recovery or total loss in an accident.
The insurance company will consider a few things while deciding the value and premium amount for your car. Some of these include the age and make of the car, the driving history of owner, the cost of repair and spare parts, the way the car is kept and maintained. Since these are vintage cars, they are expected to be kept nicely in a garage instead of pavement or road.
Most of the times, these cars are not driven much. The mileage on these classic cars is pretty less. The insurance agency may put an annual limit on mileage on these cars which can range anywhere between 1000 and 5000 miles. These cars are not used for commuting purposes and are used rarely only in exhibitions etc. Since these classic cars are precious for the owners, it is wise to take a complete car insurance package specially designed for such types of cars.
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For the most part, a classic car is defined ...
