Article by Jeremiah William
Collectibe cars can serve as a wondrous treasure, but also as a good investment. As with any investment, an adequate protection in the form of collector car insurance is necessary. Since the repair and replacemnt of a collectible car can be cost prohibitive, a collector car insurance policy will financially save you in the event you fall victim to theft, an accident or damage.Collector car insurance is a specific and specialized form of insurance that is quite different from your regular vehicle insurance policy. As such an insurance carrier has certain provisions that must be met prior to issuing a policy. The most important requirements are the drivers age and qualifications, the age of the car, and mileage limitations. Additionally, an insurer will insist the vehicle be secured in a garage when it is not in use.In most cases, the insurer will not permit more than 5,000 miles per year, although some companies may offer an excess mileage addendum. The mileage driven is limited to car, hobby, and show activities for the most part; collector car insurance policies do not permit driving the insured vehicle for commuting or commercial activities.Another restriction on collector car insurance is the age of the car. The majority of companies require the car to be at least 15 years old. A few insurers define a collectible car as being more than 25 years old and in rare circumstances as much as 35 years. In order to qualify for collector car insurance, a driver must meet certain qualifications as well. A large majority of companies set a minimum driver age at 25 with minimum driving experience of 9 years or more.Once you meet the stipulations for your collector car insurance, you and the insurers agent will negotiate the car’s agreed upon value. Unlike a regular car which has its value set by automobile industry standard practices such as a blue book value or fair market value, you are permitted to determine the value of the car at the time of the writing of the policy. Whatever amount you and the agent agree to is the amount that will be paid to you in the event the car is a total loss due to an accident or theft.Selecting a well qualified insurance company for your collector car insurance is a necessity to protect your investment. However, choosing a company that specializes in collector car insurance will give you the best coverage and maximum benefitFind Collectors Car Insurance, Collectible Auto Insurance, womens car insurance, Get your free auto insurance San Diego Insurance Quote.Related SitesFind Collectors Car Insurance, Collectible Auto Insurance, womens car insurance,
About the Author
Jeremiah William writes regularly about autos related topics. I hope you enjoy this article.
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