Auto Insurance Advice? Talk to an Expert

You own a classic, a vintage automobile, and you’re clueless about how to insure it. So you ask around. "Everyone has an opinion on anything and everything, even auto-insurance," you tell yourself. Your neighbor has one, your co-worker has some insights, and even your know-it-all brother-in-law probably has a volume dedicated to this topic. But really, unless they’re industry insiders, what do they know? Countless times, we exhaust ourselves trying to avoid talking to an expert, probably out of fear that we might get sucked into a bad deal. Honestly, the best resource to ask about auto-insurance is the auto-insurance agent or specialist.

How can this guy be any different from the persons mentioned above? Well, for one, it is HIS JOB to give you more accurate information on quotes on the type of policy and coverage you need. After all, he’s the inside man. Needless to say, you don’t own a classic and just helplessly lose it to a nasty smashup or, God forbid, theft. That piece of heaven on four wheels should not be left on its own. We all know that it is going to be more than just the money we would lose if we lose a vintage.

Thankfully enough, there are auto-insurance companies out there that focus mainly on these types of automobiles. Consider it high-risk, but they are the ones that will take it. I would suggest a nice appointment with the auto-insurance specialist to open your eyes on how to protect your vehicle.

The auto-insurance specialist will let you in on a number of options to work with your needs. There are policies that consider the owner or driver’s age, the annual mileage of the car, even a policies that takes advantage of your membership to a vintage automobile club. There are a few points below for you to think about.

• If you talk about the annual mileage on the vintage, you have to think, "How much do you really drive that car and where do you drive it?" Unless you drive cross-country all-year long, the mileage on that vintage should be on the low side. Logic follows: Less mileage, less time on the road, less risk for the automobile to get involved in a road accident ergo, lower rate for your auto-insurance. Just check with the specialist-agent whether they have policies that are tiered or not. Usually, these policies are bracketed by 1,000, 3,000 and 5,000 annual miles.

• The specialist should also tell you to consider that not all motorists are properly insured. So do take that into consideration and take advantage of underinsured/ uninsured motorist coverage offered by the specialist’s auto-insurance company. Logic dictates that the rates on this coverage should be lower since your car spends less time on the road. Getting the pattern?

• Ask the specialist if discounts are also given by the auto-insurance company if you have a membership to a vintage automobile club. Membership to this type of club gives the impression that the owner is a true enthusiast and drives the car for his or pleasure and means that the car is low-risk for accidents.

• Being insured does not mean you get the license to do ill on the road or just leave your classic car parked outside without protection. This is why you and the auto-insurance specialist company would have to agree on the maximum coverage for your vehicle. Get your vintage appraised before going into these details. There will be instances that the auto-insurance company cannot replace or even have your car repaired.

Remember: Insurance is just another way to extend your relationship with your classic car. It is also your way of being a responsible car owner regardless of automobile type. If an accident were a person, it won’t really care if you drive a compact or $100,000-car.