Obtaining Collectable Car Insurance

Automobile insurance is important for car owners and drivers to obtain. Besides the fact that it is against the law to drive without insurance in all fifty states, it’s just not a good idea regardless of the legal issues. Automobile insurance protects you in the event of damage to your vehicle or even its complete and total loss due to a severe accident or theft. This is particularly important to collectors of classic cars, as these vehicles often represent a considerable financial investment. In many cases traditional auto insurance companies can not or will not insure classic and collectable automobiles. Because of this it is important for these car owners to obtain collectable car insurance from a company that specializes in insuring classic and collectable cars.

One very important reason for this is that, while a traditional insurer may gladly write and sell an insurance policy for a collectable car as soon as they would any other vehicle, that policy may not cover the collectable car fully in the event of loss or theft. Most insurance companies base the amount they will pay to replace a car on its Kelly Blue Book value. In the case of collectable and classic automobiles, this figure may be very different from what it would actually cost to replace the vehicle. A collectors car insurance or collectable car insurance policy is written differently and payment is based on what an individual car is actually worth and not its general Blue Book value that corresponds to all cars of that particular make and model.

Collectors car insurance is also important for a related reason. The Kelley Blue Book only lists cars of a certain age. If your car is not listed at all, it may be considered to have no blue book value. If the car you’re insuring is, say, a classic and a fully restored or an all original 1957 Chevorlet Bel Air hard top, this is important to you. When it would cost thousands of dollars to replace your vehicle after it is stolen or damaged beyond repair, or if the car is actually irreplaceable (as is the case with many collectable cars) the last thing you want the insurance company to tell you is that the vehicle had no discernable value and they can pay you only a certain predetermined amount that will be nowhere near what the vehicle was actually worth.

Insuring your collectable automobile is the most vitally important step you can take toward protecting the considerable investment you have made. The piece of mind that will come with knowing that investment is protected will lead to countless hours in which you can enjoy your classic or collectable automobile.