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Antique Car Insurance
Do you have a classic, or antique, car? If so, you may be paying too much to insure it. If you have the car insured under a regular car insurance policy then you will almost certainly be paying too much for your antique car insurance! As most people who own antique cars do not use them everyday the way people use regular cars, then it makes sense to get a policy that is specifically for this type of vehicle that takes this fact into consideration. You will almost certainly enjoy low rate car insurance for it. But what is an old, or antique car? As far as car insurance companies go there is a big difference between old, classic and antique cars. Although it differs slightly between various car insurance companies, generally a car that is 15 – 30 years old, is in decent condition and has value to collectors is considered a ‘classic’ car. An ‘antique’ car is a vehicle that is 30 years old. These cars will have historic plates and can only be driven as part of a show. If your car does not fit all of these requirements, it is merely old and you will not be eligible for the special rates that some specialist car insurance companies afford to classic and antique cars. If you have an old car but are unsure of its value, you can always get the vehicle appraised, it could be that the car is in fact worth more than the ‘book’ value and you may have a classic car without realizing it. How do you go about getting a car appraised? Well, there is actually a society - American Society of Appraisers (or ASA for short) – which specializes in just this sort of work. They will have a list of all the appraisers in your area. Once you have the list of the closest appraisers to you, you should take care to select one that has done appraisal work on your type of vehicle in the past and so has some prior knowledge and experience. You can always check their resumes and references to find out more about them. What will the appraiser do? The appraiser will give your vehicle a thorough check-over and write up a report. This may well include taking the car for a short run and taking detailed notes on the physical condition. The appraiser will also take plenty of photographs which will appear in the final report. The final estimated value will be based on various sources such as car price guides, advertisements, auction and sale results; and other documents related to the car as well as the state of the individual car. As well as having an appraiser look at the car, your insurance company will need a number of details from you, such as make, color, model, body style, and year. Engine number and Vehicle Identification Number (or VIN) could be asked for, whilst expensive performance cars, such as Ferraris or Corvettes, must have a VIN for verification. As well as the savings that can be made on antique car insurance, there are other reasons for putting your classic or antique car under the proper insurance policy. The primary reason being that these specialized antique car companies would most likely understand what the car needs and what concerns you have about your vehicle. There are three types of insurance for an antique or classic car. There is the actual cash value (ACV); agreed value (AV); and stated value (SV). With an ACV policy the value is set for the cost of the car at the time of being insured and decreases with time. If a claim is made then an adjuster will decide how much the car is worth at that time. An SV policy means that when there is a claim the insurance company pays either the fees related to damage of the vehicle, or the ACV depending on which is less. With an AV policy you are guaranteed a degree of coverage regardless, if you need to make a claim on your vehicle. This type of policy is generally considered to be the best of the three types available. 
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