If you’re the proud owner of one or several classic cars, or you’re thinking of purchasing, you also need to be thinking about how to protect an investment like that. The car emerged from mankind’s need to travel faster and faster, but even from the beginning, for some, it was more than that. For many, it is an accessory just like a piece of jewelry, or a social statement, telling people who you are and how you want to be seen. Others collect them just like an art lover collects paintings or sculpture, out of pure passion. And if you can afford to buy limited edition cars, then you have to make sure they stay in one piece.

The good news is that the car collector can find special classic car insurance quote that can fit his special needs. You may even find that insuring a classic car is cheaper than a modern one, yet you still have to make sure that it applies to your specific needs. Most insurance companies consider a car to be a classic if it is at least 20 years old and values at least ₤ 15,000, but that does not apply everywhere, as other companies agree a car is a classic after ten, or fifteen years. In order to see the what polices your local car insurance agencies have regarding classic cars you could look for some car insurance quotes online. This way you can see an estimate cost of how much it would cost you to insure a classic car.

For the most part, classic car insurance is very similar to a normal one, yet there are some aspects that differ. Since it is not an easy task to determine the value of a classic car, your insurance dealer might ask you to come with an independent evaluation from an expert. That or you can decide together with your insurer if you can reach an agreement. You should also leave open the option of re-evaluating your car each year, as its value could rise or decline.

Until recently, a classic car owner could insure his possession only for the summertime, as that’s when most collection cars are taken out, but now you may have to pay for a year-round insurance. You also have to seriously consider how much you will be driving the car as many insurance policies have a mileage limit per year, and that may mean extra fees. Check with your insurer if your policy has a flexible mileage.

For those who take their cars to rallies and expos, normal classic car insurance should also cover special events, though you may have to pay an extra fee if the event is abroad. If your car is simply stored away or being reconditioned or repaired, you can simply insure it against fire, theft or other damage. You may find that the insurance quotes are cheaper for classic cars especially because they are more likely to be stolen, but if you pay a little extra and get proper security devices, you may find that it is worth it. Furthermore, safety devices and off-street parking spaces can even get you some discounts from certain car insurance agencies. One thing is for sure: a classic car is a valuable possession and it needs to be properly protected. If you find that the car insurance quotes online are too expensive and you can’t afford the premiums, it is better if you postpone investing in a classic car. After all, what’s the point of owning it if you are afraid to take it out of the garage.

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