Take note that passenger private car insurance is far different from Antique Car Insurance with regards to how the vehicle will be appreciated during the time of the specific loss. If you have a vehicle that is eligible for an antique car insurance or a classic car insurance due to its age, it is critical to know the difference of a specialized as well as a standard coverage.
Essentially, an antique or classic vehicle are those which are foreign or American-built and manufactured more than three decades ago. Though some insurance classify an antique and classic car as based on age, a lot of insurance companies will distinguish the two as according to the quantity of miles the cars annually contain.
Antique car insurance and a classic car insurance is created to cover rare cars with costly features and modifications. Since a classic vehicle collector possess ah attachment to their vehicle collection, it is critical to have your vehicle covered as based on its value to the owner and not its market value.
The main difference between a conventional insurance policy and antique car insurance is the process of how a specific loss is settled after a vehicular accident or theft.
A lot of insurance companies which offer classic and antique car insurance demand you to offer documents which support your car’s stated value. If there were modifications made on the vehicle or any frame reconstructions, you will be demanded to prove this. Make sure you communicate with agents which represent legitimate insurers within the industry of classic cars.