Classic Auto Insurance – An Overview
Auto insurance is a must for any car as most states have laws mandating a minimum level of auto insurance to cover the collision, comprehensive and property damages that might occur to a person’s car or to others in case of an accident. Driving without sufficient auto insurance is an offense and can be punished with fines and repeated offenses might even result in the driving license being suspended.
Classic cars are collectibles and special in nature. Cars that are more than fifteen years old are considered classic by insurance companies. People who own them take pride in them and possess them with vigor. Unlike many other collectibles, cars must be maintained in a good and running shape. Maintaining a classic automobile is a touch and expensive business. The main reason for this is the lack of available spare parts in large numbers.
Further getting a mechanic who is reliable and who might know how to work with a classic car is also difficult. Thus maintaining a classic car costs a lot higher than maintaining the latest models of cars. Classic auto insurance is thus a good idea for owners of classic cars. Theft of classic cars is also a possibility.
Although there is no big demand for the spare parts of these cars, these are unique and specialized equipment which have demand in special markets and circumstances. Classic car thefts are not uncommon, but these are different than thefts of normal cars. The reason is that the value of the cars are high, there are not many buyers within the united states and these cannot be driven by the thief in broad daylight as the car owner would’ve alerted the police and the classic car community regarding the theft and it is very easy to spot a beautiful classic car being driven on a freeway.
These cars are normally taken under wraps using a container and transported to ports from where they are normally moved out of country to the requested buyers who are ready to pay large premiums for specific models. Classic auto insurance is thus very useful to cover such cases also.
Classic auto insurance is provided by specialized companies. There are a lot of specialized classic auto insurance companies that operate in the United States. The best way to find them out is using the internet. It is very easy to get the list of the different classic auto insurance providers using the internet and it is easy to get online quotations and other relevant insurance details. A lot of classic auto insurance companies also provide car care instructions on their websites.
Insuring your Classic cars with classic auto insurance is good sense because classic cars are prone to more damages when compared to regular cars. Further owners will normally want to take them to shows and competitions and there are possibilities of accidents or damages occurring while driving the car to the shows or during the competitions. Classic auto insurance providers provide various kinds of coverage packages, depending on the car, the amount the owner wants to spend and the usage of the car. Special packages are provided by classic auto insurance companies to cover the possibilities of accidents or damages in competitions. General classic auto insurance coverage is also available for cars that are used only for general purpose driving.