Insurance for Antique Cars
When searching for a motor vehicle, not everyone is looking for the newest or most high-tech designs. Some people are fans of older models – also known as antique, collector, or classic automobiles. Of course, these cars are not necessarily exempt from modern legal requirements concerning insurance coverage, especially if their owners regularly use them for transportation. If you are interested in purchasing an antique car, you need to understand your insurance obligations and options.
Finding the right insurance coverage for your particular automobile can be difficult. Fortunately, Insure on the Spot works with a variety of Chicago auto insurance companies, making it likely that we can help you meet your needs. Call us today at 773-202-5060.
Why Purchase Collector Car Insurance?
Owning an antique car often entails certain considerations and complications that owners of more conventional cars do not face. As a result, a regular car insurance policy may not be sufficient to cover potential accidents and expenses. In addition, companies that sell conventional policies may not want to insure classic models due to the expense of repairing them.
You may want to research your antique car insurance options if your vehicle is:
- More than 25 years old
- Only used for display, auto shows, and/or short recreational drives
- Not your primary mode of transportation (i.e., you own another “regular use” vehicle)
- Considered rare, valuable, and/or “exotic”
One difficult part of insuring a collector car is the difficulty of determining its true value. Many classic automobiles are considered non-valuable by standard insurance company measurements – they lack modern safety features, fuel efficiency, durability, etc. However, their sentimental and historical value can be nearly astronomical. A reliable collector car insurance company will work with you to negotiate the value of your car as a collector’s item, not just a mode of transportation.
Contact a Chicagoland Car Insurance Agent
To begin researching your Chicagoland auto insurance options, contact the friendly Chicago car insurance agents of Insure on the Spot at 773-202-5060.
