|
|
|
        
|
| Categories |
Collector Car Insurance Protects Valued InvestmentSince the majority of these vehicles are only used on an occasional basis, the rates for collector car insurance are considerably lower than that for vehicles used on a daily basis. Many companies that offer collector car insurance also have restrictions on the use of the vehicle as well as the owner. For example, in order to obtain coverage for a collector vehicle, the owner must have another regular use vehicle with insurance for daily use in the name of the collector car owner. They may also be required to be stored in an enclosed, secure facility to qualify for collector car insurance. The value of the insurance is determined at the time the coverage begins and most policies offer no deductibles on collector car insurance, paying the full amount of the agreed value in the event of a total loss. Most will also allow the owner of the vehicle to determine where the work will be performed if a covered incident requires professional repairs. Seeking The Most Coverage For Your Collector Vehicle Many people spend years restoring an older vehicle to its original, showroom condition and want to make sure it is adequately covered. Since most vehicles are kept in storage unless being taken to a show, the miles driven is usually low. Many times the vehicles are transported on a trailer and the insurance on the trailer and the hauling vehicle will be responsible for aby damages, and not the collector car insurance. However, when a car is on display it is a potential target for vandals and accidental damages. These types of incident are typically included in collector car insurance, and with most companies, if the collector buys another collector vehicle it is automatically covered up to a pre-determined value for a few days, until the owner and the collector car insurance company agree to the vehicle's value. Despite the high value of certain collector vehicles, annual premiums are exceptionally low. For example in most states, the cost to insure a 25-year-old collector car will be slight over $100 per year, which is a bargain compared to the vehicles worth. |
|
|
|
Automotive
Home Appliances
Home Electronics
Home Decorating
Home Remodeling
Lawn and Garden
Home Maintenance
Home Finances
|
|||
|
legal notices and disclaimers | privacy policy | site map Copyright © 2007-2008 The Home 'n Garden Center ~ Collector Car Insurance Protects Valued Investment |
|||
