Insurance for Speciality Cars

Owning a collectible car may be a matter of pride for some; however, it also is an investment. To protect that investment, collector car insurance is a much needed necessity. 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 differs greatly from regular car insurance. Insurers have specific prerequisites that have to be met before a policy can be written. Three of the major requirements are limits on miles driven per year, age and driving record of the owner and the age of the car. In addition, most insurers have strict guidelines on vehicle storage when it is not being driven.Limits on miles driven per year is usually no more than 5,000, although some companies have provisions for excess miles. A further restriction on mileage driven is that a car can not be used for commercial purposes or for daily commutes, however, a collector car insurance policy does allow the car to be driven to car shows and related activities.Another restriction on collector car insurance is the age of the car. In most cases, the car must be a minimum of 15 years old. Although some companies will set this number higher at 25 and occasionally at 35. Collector car insurance companies will require certain driver qualifications before a policy can be issued. Minimum age of a qualified driver is mostly 25 while the minimum driving experience is 9 years.Once you meet the stipulations for your collector car insurance, you and the insurers agent will negotiate the car's agreed upon value. As opposed to a regular insurance policy where the value of a car is determined by fair market value, in a collector policy, the value of the car is a figure you and the insurer will agree on. 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. cheap auto insurance 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 benefit insurance