Auto insurance quotes for classic cars remain something of a mystery. Although owners are prepared to spend thousands of dollars on restoring a vehicle, finding effective auto insurance coverage can still be a difficult task. Classic car enthusiasts are advised to consider the long-term effects if the wrong type of policy is actually purchased.
One of the most difficult aspects of finding cheap auto insurance quotes for classic cars is determining the actual value of the vehicle. In many cases, a classic car will be modified to a level that makes it unique, especially if an extensive amount of restoration work has taken place and some of the components used aren’t completely original. Many major auto insurance companies will send out an engineer to view the model before a valuation can be made and a policy will be underwritten based on the condition of the individual vehicle.
Once a value assessment has taken place, classic car owners will need to evaluate a series of factors if they want to secure cheap auto insurance quotes. The limited use that applies to many classic cars can see discounts applied for low mileage but the conscientious driver can also make savings if they join an ownership organization that is recognized by the auto insurance industry. Allowances will still need to be made for vital auto insurance add-ons such as comprehensive and collision coverage and all minimum state requirements will also have to be met. Owners should note that all mandatory auto insurance laws differ from state to state.