Classic Car Insurance

getting-insurance-for-a-classic-or-antique-vehicle-image

Insurance for Classic Cars

We understand the personal attachment that collectors have for their vehicles, and to protect your property you need to pare it with insurance that is both affordable and gives the car owner enough coverage to protect yourself financially if something were to happen. There’s a difference in the amount of coverage that you’ll need to cover either your classic or antique vehicle. For the most part, you’ll be driving the car a lot less, it has more miles on it so the life of the vehicle so the life expectancy of the vehicle is shorter. Insuring your classic from a traditional car insurance company is not advised and they will charge you more in monthly premiums because they can. Working with an independent insurance agent, that agent works in different verticles and have access that captive insurance agents, don’t. Shopping for insurance with VA Car Insurance connects the shopper with an individual insurance agent, who works for you. You talk to one insurance agent on the phone or through email and the agent shops around policies from different brokers a quick, easy and painless shopping experience.

How are premiums between classic and standard vehicles?

It doesn’t matter the type of car insurance you have, the premiums you pay are determined by data points. For the most part, the data points are broken up into two different groups the vehicle and the driver. For the vehicle the age of the car, the number of miles driver, color, make, and model are different data points that factor into your premium. The driver history, age, credit history, premium payment history, and the location all factor into how much you pay every month.

How will premiums change in the future?

As we move forward with technology reduced premiums will be rewarded to drivers who have an application on their phone open which will reward safe drivers with lower premiums. Although limited there are already insurance companies experimenting with this type of technology.The next layer of integrating technology into insurance will use interfaces like the panda that port directly into your car, which is already available. Not in the insurance industry just yet, connecting those data points with a car interface that is learning both how to drive, who’s the driver, and rating the driver’s ability, will allow underwriters to price the driver’s premium accurately. As we move forward with assisted self-driving cars and autonomous vehicles, insurance will still be a critical part of transportation. Underwriters will encourage the use of these vehicles or interfaces with reduced premiums to the customer base with price incentives because of the reduction of risk on the underwriter’s investment. Not initially but over time as machine learning teaches itself on how to drive better and faster than humans, large-scale data sets will prove these types of technologies are safer for the underwriter.

Where can I get classic car insurance?

Having a passion for cars and being apart of the car community, you notice the types of vehicles that collectors own by attending shows, events, and networking with others. I do see that there are three types of car collectors some that only collect classics, newer vehicles and the people who don’t care and collect both. Myself, I own both in my collection, but the connection to both types are very different. My older vehicle, I drive a lot less, and it’s only used on the weekends or for some special occasion. I treat my classic like it’s my baby and when I drive my Altima, there’s no connection it’s just transportation between point A and point B. My classic car premium is lower because I drive it a lot less maybe once maybe twice a week.

Finding car insurance wasn’t hard to find for my classic, I consulted with the agency that was providing me coverage for my, and the premiums were’s great, so I shopped around. There are insurance companies that offer regular car insurance for any vehicle and then their car insurance companies that specialize in specifically classic and antique car insurance. For people who aren’t big into online car insurance shopping at VA Car Insurance, an independent agent will shop for multiple different carriers to find you the lowest quote. Independent agents work will include different carriers so theirs no incentive to sell me a specific policy or a particular company, they find you the lowest possible quote. Policies that are built around your needs, and not your insurance company.