Competition in the Classic Car Insurance Market Any car collector should know of the features of classic auto insurance, owners might be not wanting to question this for fear that it is more expensive, however it is important to know that you will find theres difference between renters insurance and standard insurance. Typical car owners drive their vehicles on daily driver insurance and also this is not appropriate. So what do you think youre to perform should you suddenly possess the urge to acquire an historic auto, a hot rod or simply wish to pimp your ride and earn it look the talk in the town. Well fortunately there are companies around focusing on this type of thing. They know what the car collector wants and earn it their passion to ensure that theyre very pleased with the products they provide. One with the main areas of classic car collecting that the auto is likely to increase in value as the years pass by. This is the exact complete opposite of the ordinary car market. To this end Classic car insurers have a system of agreed valuation. This means that you are able to set your own value around the car that you own. Its value could possibly be higher since it is an historic vehicle or it could be as you have spent a classic car insurance in california classic car insurance in uk classic car insurance for non uk residents classic car insurance mercedes lot of cash changing your body design or engine specification. Of course this has being agreed using the insurer so you just cannot just make things up or exaggerate the cars condition or features. You may have to provide photos with the car as part with the means of valuation. As with any major investment, it is best to analyze all options before choosing classic car insurance. There are restrictions for the amount the automobile may be driven, that might get this to type of insurance impossible for a lot of. The amount varies with insurance provider, nevertheless it may be as few as 3,000 miles annually. This will t be sufficient for many who commute to be effective or want to travel distances to go to relatives and buddies. These details plus more need to be ascertained before a plan is chosen because often the restrictive conditions dont become clear until there is an accident as well as a claim is done. At this point, it can be too late to have coverage for damage. If you own a vehicle that was built before 1973, youll not be repaying road tax, and often will still have to display a road tax disc. The new regulations will be to make over the following month or two, as well as the current tips on government websites is that it will affect owners of classic cars who do not insure all the year. This means that youll have to apply for SORN for any period that you do not want the car to get covered by insurance. Of course in case you are paying road tax this will be yet another saving, if something of an hassle. SORN means what it says, and the vehicle is not stored with a public road you should definitely paid by a tax disc.