ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Collector Auto Insurance - All You Need to Know

Updated on June 1, 2012

Collector Auto Insurance

A lot of drivers have desired certain car models in their youth but did not have enough cash to buy them at the time. So they end up buying those cars which have already become classic cars when they already have enough funds in their prime years. Finding the most inexpensive classic car insurance is one thing to consider after owning a vintage car. In general, a classic car insurance policy would cost less than the insurance for a modern vehicle. Such is the case because most vintage cars are driven for fewer miles per year, usually garaged and are better cared for.

Yet, there can still be significant differences for premiums. To ensure that you are getting the right price for your classic car insurance policy, the following tips might prove useful:

Vintage Car Insurance
  • When insuring your classic car, an agreed valuation must be taken. Should the car be stolen or written off, the agreed valuation will be the amount that will be paid. Make sure that this is a guaranteed amount. Otherwise, some insurers may refuse to pay out. An independent valuation may be required by some companies and an extra charge may be added.
  • Verify whether the agreed valuation can be increased each year. Most classic cars increase in value every year and replacing it in the following year may cost a lot more. You also have to remember that replacing rare accessories and embellishers can be very costly too.
  • You can also consider having a limited mileage policy for your classic vehicle. Most of the time, the limit is set between 1,500 to 10,000 miles. You can also check if it is possible to adjust the limit upwards if you are close to exceeding the limit while you are still halfway through the period insured.

Both the veterans and first-time buyers may end up confused when insuring their collector and classic cars. Some of the most common questions may be pertaining to claims, costs, coverages, types of vehicles that can be covered and many other considerations.

Of all the classic vehicles running on the road, less than half of them are insured using specialty programs. Most owners are still insuring these classic cars through standard insurance policies despite the fact that specialty programs have been around for about fifty years already. Compared to a specialty program, standard insurance premiums per year can cost up to 500% more. From program to program, there can be varying levels of claims handling, types of coverage, rates and service.

At present, three categories of automobile insurance coverage are offered namely Agreed Value, Stated Value and Actual Cash Value (or ACV). In the event of a total loss, only the insurance policies with Agreed Value offer all your money back as guarantee. Another added advantage for an Agreed Value policy is the fact that you car’s value will not depreciate.

As a bottom line, you will be able to save a sizable amount of money through classic car insurance. And because specialty insurance programs offer better benefits and relatively lower rates, collectors and interested hobbyists can now enjoy driving their classic cars.


Auto Insurance for Women

Information on how to maximize your savings on woman's auto insurance

Car Insurance Quotes Online

Highly recommended source for finding cheap car insurance.


    0 of 8192 characters used
    Post Comment

    No comments yet.


    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at:

    Show Details
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the or domains, for performance and efficiency reasons. (Privacy Policy)
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)