You’re the proud owner of a mint condition Model T Ford from the first half of the 20th century. You have spent a great deal of money in maintaining this collector car’s excellent condition. Maybe your occupation is a lovable late night talk show host with an all encompassing passion for collecting cars that were driven when the oldest citizens of the United States were in cloth diapers. Perhaps you’re more of an average Joe who spends their sizable disposable income on 70’s muscle cars. No matter what your classic car poison happens to be, you know that the insurance needs of your collector babies are different from that of your neighbor’s Volkswagen Beetle. Learn how a classic car insurance company can help you in that department.
The Difference Between Classic Car and National Insurance Companies
There is a large difference between the national insurance companies that advertise on television and those that cover only classic cars. National car insurance companies have a lot going for them. They’ve been in the business of insuring cars for decades and undoubtedly know their stuff. However, their staff may not be as knowledgeable when it comes to the insurance needs of your Model T or Ford Mustang. The staff of classic car insurance companies, on the other hand, knows the ins and outs of insuring a collector car. You can bet that you’ll be able to talk to friendly staff who is genuinely concerned about meeting your needs as a collector and aficionado.
Calculating the Costs of Classic Car Insurance
There are quite a few costs in insuring a collector car. However, the good news is that classic car insurance companies operate a lot like national companies in one important aspect. In both classic car and national companies, you could have the opportunities to defray the costs of your insurance premium if you have good driving and credit histories. Some classic car companies even have higher driving history standards than most insurance companies. To be covered by a few select classic car companies, potential customers are only allowed to have a couple of very minor traffic infractions per household. The type of collector car should also factor into your budgeting process. A 1920s Model T Ford is going to cost a lot more to ensure than an Italian sports car from the 80’s.
How to Decide if a Classic Car Insurance Company is Right for You
When trying to decide whether to buy a policy for your collector car from a classic car insurance company, consider a few of these factors. They include:
Cost: Premiums from a specialty car insurance company could be more expensive. Do you have the extra funds available to cover the additional financial responsibility?
Knowledgeable Staff: Progressive may be great for the insurance needs of your Toyota Prius, but do you want to take a gamble with their customer service representatives when it comes to your 70’s muscle car that you worked on every Saturday for two years?
Type of Car: I highly doubt you’re letting your Model T Ford, your baby, be insured by an animated lizard.
Even though national car insurance companies have the recognizability factor, what they don’t have is the expert knowledge of the needs of classic cars and the people who love them. If you’re willing to pay a bit more, buying a policy from a classic car insurance company will ensure that your unique issues and concerns are handled by savvy staff who share the same passion for classic vehicles that you do.