Auto insurance for collector cars

Currently, several drivers save money on car insurance by reclassifying their cars as "collection", but not all cars are eligible for this designation, although it might be worth looking to see if your car meets the requirements necessary.

For example, many insurers will not sell you a collector policy unless you have more than one vehicle in your home. You can also limit the number of miles you drive per year in your car collection. This is what is most needed to know to take advantage of savings offered by your insurer.

What is the difference between insurance companies?

An auto insurance policy for a vintage car offers drivers the same coverage as a standard policy. However, one of the biggest differences between a policy of insurance collector car and a traditional policy is the way the policy is paid.

The value of your car is predetermined and does not decrease during the term of your policy, therefore, do not be surprised to know the depreciation of your vehicle. If you have coverage of market value or cash value, which is standard in the traditional policies of auto insurance, leave the determination of value to the insurer. When you do this, the insurer shall determine the amount of solution to use a combination of market value, replacement cost and depreciation.

The depreciation of the cars, obviously, could take much of the solution if applied aggressively, while the value agreed to eliminate any concerns that anyone may have about how much we will pay the insurance.

Who agrees on the value?

Typically, the insurance agent works with the car owner to determine the agreed value, so if you secure a car today for 250 thousand pesos, after six years will continue with the same value.

Some other differences are:

Most auto insurers provide coverage for collection when the vehicle is being repaired. Standard policies do not cover damage caused by the workshop mecánico.Las car insurance reimbursement collection include a rental car if you must rent one while carrying out repairs. An auto insurance policy adds this benefit standard for office adicional.La regulation of auto insurance policies charge is based on the number of miles driven per year. Some policies allow unlimited mileage throughout the year while others are based on a preset number. Additional premium is charged if the limit is exceeded.

A collector car insurance

The quality assurance can help you save an average of 60 to 80 percent a year in premiums, according to your management and the state where you live. Although some companies allow you to negotiate a deductible and reduce your premiums.