What to Consider When Getting Insurance for Vintage Cars
Hello, Jeffrey Breault here. As you know, I love classic cars and I keep a handy collection in my garage. As a financial advisor though, I get asked a lot by people how I insure my cars.
Now, insurance is important not only for standard cars but for vintage cars as well. Vintage cars are more valuable, and there are special considerations you should think of before you get coverage. Here are some of them.
Know the value of your car A true collector knows the value of his car, particularly if you have kept it in pristine condition. There are also times when you have to bring in an authenticator or appraiser to see how much the car is worth. If you know the true value of your car, then you would be in a good position to look for insurance companies.
Compare prices I, Jeffrey Breault, make it a point to compare prices from at least five different companies before I trust them with any of my cars. You see, you need to look for specialized insurance companies for vintage cars. Make sure that you keep the original documents with you even if the insurer asks for copies.
Read the fine print Don’t just go with the cheapest insurance option just yet—you have to read the fine print too. There are a number of restrictions when it comes to insuring vintage cars, such as the number of days you can use it in a year, or when you can use it. It only makes sense that insurance companies would place restrictions on vintage cars, but you also want to make sure you have enough wiggle room to enjoy your toy!
At the end of the day, your insurance coverage should be one that reflects your lifestyle and preferences. Let me know if you have any questions! This has been Jeffrey Breault, signing off.
Now, insurance is important not only for standard cars but for vintage cars as well. Vintage cars are more valuable, and there are special considerations you should think of before you get coverage. Here are some of them.
Know the value of your car A true collector knows the value of his car, particularly if you have kept it in pristine condition. There are also times when you have to bring in an authenticator or appraiser to see how much the car is worth. If you know the true value of your car, then you would be in a good position to look for insurance companies.
Compare prices I, Jeffrey Breault, make it a point to compare prices from at least five different companies before I trust them with any of my cars. You see, you need to look for specialized insurance companies for vintage cars. Make sure that you keep the original documents with you even if the insurer asks for copies.
Read the fine print Don’t just go with the cheapest insurance option just yet—you have to read the fine print too. There are a number of restrictions when it comes to insuring vintage cars, such as the number of days you can use it in a year, or when you can use it. It only makes sense that insurance companies would place restrictions on vintage cars, but you also want to make sure you have enough wiggle room to enjoy your toy!
At the end of the day, your insurance coverage should be one that reflects your lifestyle and preferences. Let me know if you have any questions! This has been Jeffrey Breault, signing off.
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