| Learning about the differences between a | | | | unfair. One of the most price-sensitive markets is |
| standard auto insurance policy, and the type of | | | | the one for classic vehicles; in fact, the value for |
| policy that is necessary when insuring a classic | | | | the same model car can range from 50% to |
| car, will be helpful to you, so that you are aware | | | | 500%. If your car is in mint condition, is limited |
| of the limitations associated with insuring classic | | | | edition or has providence, then without an agreed |
| vehicles. The first thing to consider is whether | | | | value clause then there is pretty much no way |
| your vehicle is actually classified as being a 'classic' | | | | that you will receive its full value. The objective of |
| one. The classification of a classic car will differ | | | | the majority of insurance companies, is to pay |
| from insurance company to insurance company, | | | | you the least amount that they can, and standard |
| so you will need to do some research to | | | | insurance companies are especially known for this. |
| determine what each insurer's definition of 'classic' | | | | You need to realize that there will be stringent |
| is. It is common for classic vehicles to be | | | | rules attached to a classic car insurance policy |
| permitted on a standard auto insurance policy, | | | | that incorporates an agreed value clause. A yearly |
| although it is likely that insurers will charge higher | | | | mileage maximum is one such rule, as it is |
| premiums for this privilege. Also, you will not | | | | expected that a classic car will be driven less, and |
| benefit from what is the biggest advantage of | | | | the classic car insurance policy will reflect this |
| buying specialist insurance, which is the agreed | | | | guideline. Providing extra security measures on |
| value clause (or the minimum amount that will be | | | | your classic car, and attending only a limited |
| paid to you should your car be stolen or involved | | | | number of classic car shows with your car, are a |
| in an accident or stolen). | | | | few of the other limitations that may be included |
| Most often, insurers will consider the current | | | | in your policy. The more rare and desirable your |
| market prices of your vehicle in order to calculate | | | | car is, the more you will have to pay, however, |
| how much to pay you for any claim that you file. | | | | due to the restrictions often put in place, classic |
| For classic vehicles, this often presents a problem | | | | car insurance policies tend to be relatively cheap. |
| as working out their market value is not easy. In | | | | The most important feature is the agreed value |
| many cases, the insurer will end up undervaluing | | | | clause, and if you want to get the insurance policy |
| your motor, and if they do so you will be forced | | | | that you think is best, you may need to pay |
| to take that amount, even if you feel that it is | | | | higher premiums. |