With higher coverage at a lower premium, it is a total win-win to go with antique car insurance if you qualify.
There are several situations in which people end up paying more for insurance than they should. One reason your premium may be higher than necessary is paying regular automobile insurance rates for a classic car. If you have an older vehicle that meets certain requirements, you can qualify for antique car insurance at substantial savings. When you come to Jamieson-Hilts Insurance Brokers Ltd. for your auto insurance, we’ll note the age of your vehicle to see if it qualifies for antique car insurance and whether the lower-cost policy would be applicable.
One of the reasons a classic car can be insured for less is because if it isn’t driven every day, there is less risk it would be involved in an automobile accident or driving-related incident. This is not to say that you only qualify for antique car insurance if your vehicle is used only for tours, exhibits, and club functions, or tucked safely in your garage. You can still drive it for occasional pleasure driving under most antique car insurance policies.
Another reason to ask us about antique car insurance is so that the insured amount reflects the collectible value of the vehicle rather than the depreciated value. If you’ve spent time and money restoring and customizing your classic car, you wouldn’t want to get a small claim settlement just because its depreciated value is nearly nothing, while it’s worth much more as a collector’s item.
With higher coverage at a lower premium, it is a total win-win to go with antique car insurance if you qualify. If you have a classic car that is properly stored and used on a limited basis and you have a good driving record, contact us to learn more about antique car insurance. We’ll go over the policy requirements and discuss coverages that are ideal for your situation.