How To Save on Collector Car Insurance

Classic or Antique cars have been noted to increase in value even when the whole economy is down in the dumps. Collecting antique cars never goes out of style and only people who collect really understand how irresistible the next buy is. But collecting classic cars is an expensive hobby and part of that is because of Antique car insurance and it’s imperative to find a way to shave off some of that premium.

But why is classic car insurance expensive? Well, to qualify as a classic car, it has to be over 25 years old. It has to be rare. It has to be beautiful to look at. And it has to have some interesting feature about it in some way. These rare, beautiful and interesting cars are more expensive to insure because they are usually more susceptible to break-down and/or theft and their parts (that are hard to find) are usually expensive. So how can you save on collector car insurance?

1. Buy the right insurance:

Remember to not insure your car for actual cash but instead for stated value or agreed value with the insurance agency.

2. Low-mileage leeway:

Try to get low mileage discounts because anyway you don’t intend on driving the car long distances. Insurance agencies might ask to show proof that you own a garage to store the car, your odometer logs at the start and end of a month and proof of another car that you plan on using on a daily basis.

3. Discounts for American Association of Retired Persons:

Most companies that offer classic car insurance quotes will ask for you to be over age 25 or older and being an older driver will work in your favor when it comes to antique car insurance. The American Association of Retired Persons offers discounts for people age 50 and over on even collector car insurance. They can afford to give lower insurance rates because of the lower group rates they get from The Hartford Insurance Company.

4. Higher deductible:

As with any kind of insurance, if you choose a higher deductible your premiums will be lower. Also remember to keep your credit score healthy, so that your insurance premiums stay low.

5. Multi-policy discounts:

Also if you can buy collector car insurance and insure other cars and your home on the same policy, you might be able to get a nice discount!

I hope this information was helpful as you search for affordable collector car insurance. There’s great pride in having spent hours and hours of time restoring your antique car and being able to drive it around. You want to guard that asset well and so you should not skimp too much on insurance coverage. Shop around and get quotes online to compare. Find a company that will be willing to talk through and really understand your car, where it stands and what kind of coverage it needs. There are many insurance companies that specialize in collector car insurance and few can compete with the rates you can get through the American Association of Retired Persons.