Guide to Car Insurance

Get your car under immediate insurance policy before it crashes into something.

Only those who have a passion for classic cars can really appreciate the time and effort it takes to keep these vehicles in perfect condition. A police -type automobile insurance will not be sufficient protection for these works of art, because they do not take into account the nature of a vintage car. If you own a classic car or are in the market to buy such a vehicle, Gregg S. Marcus, an executive of Long Island insurance can help you protect your most valuable asset.

The biggest difference between a regular car and classic car is the depreciation rate. A car that someone pushes every day will depreciate in value at an alarming rate. A classic car by make, model, year and condition, usually takes the original value of the property and in many cases will appreciate over time. Auto insurance policies are paid their claims based on the ever-changing value of the vehicle and do not take into account the investment properties of a classic car. When you are covered by classic car insurance claims are paid based on a value that you have agreed with the insurance company before entering into the political agreement.

Requirements for classic car insurance

When you buy an insurance policy agreed on value, which is what most classic car insurance policies are called, there is most likely going to have guidelines that the insurance company will want the owner to follow. For more details, log onto insureagogo.

Garage storage

Some insurance companies want to see proof that the vehicle is maintained and stored in a garage. It is a form of protection against abnormal accidents if the vehicle was sitting on the aisle.

Guide to Car InsuranceThe minimum age requirement

Most insurance providers also want to be assured that a mature experienced driver is behind the wheel of this vehicle. The minimum age for the vintage car insurance is normally anywhere from 25-30 years.

Restrictions on mileage

An insurer may limit the number of miles that can be driven on a car that is protected under a policy of cars. The reason is that the value of the vehicle will not depreciate if the insurance company will want to keep the mileage as low as possible, preserving the value of the vehicle. If you prefer not to have restrictions on the amount that you can drive your car, there are some policies with unlimited mileage (with higher premiums.

It is sometimes possible to have what is called a policy agreed value, where the value of the car is specified and agreed at the outset of the policy. However, this is normally done on the value of high-end cars where it is difficult to establish a market value, or the classic or vintage cars that have a high premium in the first place.

Conclusively, it would be no wrong to say that you just need to get your car under immediate insurance policy before it crashes into something.