As is the case with any type of insurance, you have a wide variety of options when choosing car insurance for a classic vehicle. However, you can narrow down the candidates and find the best auto insurance by asking the right questions.
Not every insurer offers coverage for classic cars, and some collectible car insurers only cover certain types of cars. Make sure you're choosing car insurance that applies to your vehicle.
Classic car insurance can actually be quite affordable, but it comes with certain restrictions. Generally, you'll get a lower premium in exchange for agreeing to only drive the car under limited circumstances. You may also have to prove that you have another vehicle for everyday driving, or that you store your classic car in a garage.
Different companies offer policies with different levels of restrictions; the best auto insurance for you is the policy that lets you drive your car the way you want to.
Some auto insurance company ratings for a car's value are based on "actual cash value," which almost never reflects the true value of a classic car. An "agreed value" policy is an agreement between you and the company on your car's value, based on industry statistics on similar vehicles.
Each policy has a list of circumstances under which it won't pay out a benefit. Terrorism, acts of war and "acts of God" are common examples, though your policy may have other exclusions. Confirm that the exclusions in a policy are acceptable to you.
In addition to the specific policy, take a look at insurance company ratings. Information like a company's financial health and claim payment records can help you choose a particular insurer. Several companies provide insurance company ratings to help you choose the best auto insurance, including: