Classic Car Insurance - Is It for You? Insurance for cars vary with regards to the type of car that you will be insuring. For classic cars mainly the insurer and policy are very different than that of the modern cars. In an event where serious damage is caused within an accident, a modern day car can often be replaced but as for the classic car, owners often prefer repair or reinstatement of the damaged vehicle. Many insurance agencies for antique cars will refuse to buy a claim when the vehicle is left unattended within an open air car park. Taking meticulous proper your motor vehicle will give an insurer the confidence to supply a rebate to you on your classic car insurance it comes time that you should obtain a motor insurance policy to your classic automobile, your insurance provider and yourself should agree upon a niche value to the vehicle. This monetary amount would be the money your insurance carrier will reimburse you when the car is stolen or destroyed. Each year when you renew your policy, the value of the automobile will probably be reexamined for aon classic car insurance appreciation or depreciation. Because value of a well used automobile is significantly higher than a late model vehicle, your monthly insurance costs will reflect this fact. If the vehicle is stolen, the amount can you expect to collect? Ten thousand dollars? Not likely. Stated-amount coverage pays the market worth of the auto before the loss, to not exceed the stated amount (in this instance, $10,000). People who buy stated-amount coverage mistakenly expect youll obtain the appraised valuation on the vehicle when it is stolen or totaled. In the case in the Mustang, however, if industry has soured and the market value of the automobile is $6,000, you receive $6,000 - not the $10,000 your premiums are actually according to. Now assume that the market industry for the Mustang has improved, and the cars value is $13,000. How much will you get? Unfortunately, $10,000 - not $13,000. The real price of classic cars raises depending on the uniqueness with the model, its current condition, and also the history behind the cars. If yours has some wonderful story behind it, the significance can soar loaded with industry. To objectively determine the value of the vehicle you need to use the service of car appraisers - preferably the ones that specialize in classic models. The appraiser can give around fair market price of your precious. Comparison shopping is worthwhile for classic motor insurance - much like pretty much everything currently. Many comparison sites will incorporate a range of specialist insurers and also to get the best spread of deals offered, its worthwhile checking out a variety of sites. Theres certainly no harm in asking your standard car insurance provider if they have an expert department at the same time - mainstream providers are recognising the fact that niche markets have to be catered for in the highly competitive insurance market.