Exotic Car Insurance from Good to Go
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Most people over the age of 60 have fond memories of their first car. Whether it was a 1969 Mustang or an early model Camaro as seen it the pop culture classic “Smokey and the Bandit,” people have strong emotional connections to cars of yesteryear.
The keen enthusiast has been collecting these cars not only for the joy of ownership and driving them around, but for the compelling investment value many of these classic road warriors have. If you are one of the millions that have a car more than 30 years old, then you are going to need exotic car Insurance to keep your valuable investment covered.
Many Vintage Automobiles Appreciate Over Time and need Custom Insurance Plans
For most modern cars, the insurance industry is under the assumption that these autos will depreciate quite rapidly. While this is true for new automobiles, exotic vehicles often will rise in value and need the proper coverage to ensure their value. The good news is, that while you might need to have a comprehensive policy with a high limit, most classic insurers know that enthusiasts rarely drive these cars and will give out fair rates.
The main reason someone should look into a specialty insurer is they know the market well. A specialist in vintage cars will be able to determine more accurately the current value of all your exotic vehicles as well as determine their future appreciation potential. This insider knowledge is invaluable when it comes to building a policy that covers your automobiles properly.
Because determining a classic car is an art, not a science, specialty insurance pros will often work to establish agreed upon value insurance policies. While owners can provide pictures and specs, it often recommended hiring a professional appraiser to determine a fair market value accurately. If you have a large collection, it only makes sense to get an appraisal.
In the event, there is a catastrophic loss, like a fire, a professionally appraised value will hold up more strongly when filing a claim. You never know what can happen. Case in point: in October of 2015, Floyd Mayweather was transporting several exotic cars via semi-trailer when a fire erupted and totaled each car. I hope Floyd had comprehensive exotic auto insurance for these expensive rides.
Saving Money Tips when you buy Collector Auto Insurance
Insurance costs are all about the risk you pose to insurers. The more you drive, the greater risk you have of getting into an accident.
Most specialty carriers will give significant discounts to owners who sparingly drive these collectibles. Just make sure you are completely honest with the actual mileage you use. Get your custom good to go quote today and save over $500 in just a few short minutes.
If you store your collectible autos all year and rarely drive them, it is smart to get rid of all coverage except for comprehensive. You will still be covered in the event a fire happens or a theft but won’t be paying unnecessarily for additional protection.
So you have spent a small fortune on your exotic car collection. Now you need to keep them under lock and key – away from the elements and more importantly thieves. Not only will garaging keep your automobiles safer, but lower your insurance costs by about 10%.
If you want to save money, you probably don’t wish to add a teenager to your standard auto insurance policy. This could cause your premiums to jump 15% or more. Likewise, if you have your wife on the policy but she has no interest in driving any of the vehicles, get her off and save.
You can save 5% and more by bundling all your vintage automobiles together under one policy. Some carriers also have individual plans that will give you discounts for bundling your homeowners and collector autos together.
Buying exotic car insurance has never been so easy thanks to the internet. There are several specialty insurers in this market like Hagerty that offer great rates and exceptional service. Just make sure you get at least five quotes, so you know who has the best rates. It is also smart to check review sites for any potential ensures customer service ratings and claim response.
Get your free classic automobile insurance quote today with good to go insurance. Let us do the hard work of searching all the insurance companies to find you the best policy at the cheapest rates. Get started now and started comparing rates within five minutes.