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| Find the latest information on what you need to do in getting classic car insurance. This site will give you several tips on receiving the best premium for your classic. Classic Car Insurance Online Quote When searching for classic car insurance online quotes there are a few things people need to watch out for. Classic car insurance isn't the same as your typical automobile insurance. There are huge differences between the two. First thing is the deprecation factor. Most people don't realize how fast their vehicle depreciates in value. Typically vehicles deprecate on average at 10% per year. That is a huge loss for owners and if it is an investment, such as a classic car, people want to make sure they aren't getting hit with a deprecation value. Most people purchase classic vehicles because of their appreciating values as well as their interest of the model. With keeping this in mind, individuals want to make sure they are searching for the right criteria of insurance. When people are looking for a classic car insurance online quote they need to realize there are several companies they shouldn't be getting insured by. When searching for the right company to insure your prized investment here are a couple of things you want to look for in a classic car insurance company. First, the classic car insurance online quote needs to have included with it either a stated value or an agreed value within the policy. What is Stated Value? A stated value allows the insurance company to pay up to the stated value of what the vehicle was. This could be less than what the full stated value is. In addition, individuals usually pay up to a $1000 deductible if an unfortunate event was to ever occur. This is a good policy to go with over the tradition insurance since deprecation isn't a factor within the value; however, there is still a better option for classic car owners. Why It's Important to Agree on Value This would be to have a policy that has an agreed value on the vehicle. This allows the owner of the classic vehicle and the insurer to agree upon a value of the car. There is rarely any kind of deducible associated with the policy of this type of insurance coverage. This is great for the car collector who owns an $110,000 vintage Ferrari and totals it in an accident. The insurance company will cut that owner a check for $110,000 with the agreed value coverage. Also, it's a good idea to have an up to date value of your antique vehicle. An individual now should be in great shape to get a great deal with excellent coverage when checking for a classic car insurance online quote. |
Cheap-Classic Car Insurance
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