In recent times, classic car auto insurance rates have been going up gradually. This is partially due to the renewed interest in classic cars in our country and also largely due to the export market for American made classic automobiles. And with an increase in classic car buying, the rates of classic car auto insurance have been going up gradually.
Classic car auto insurance rates largely depend on the type of automobile you own. Older classic cars are generally more expensive to insure. This is largely based on the dependability that the car exhibits.
You need to join a classic car club in your local community to know the latest from the classic car industry. This way you can meet with local representatives from the insurance companies which specialize in classic car automobiles. You can also meet up with people who are in the business. Like mechanics and classic car showroom owners. They can help you find the right car which will be cheap to insure as well as to maintain. You need a good mechanic to help you maintain a car in the right working condition. The better the performance of your car is, the cheaper you insurance will cost you.
Classic cars that are older than 80 years or so and which are not totally refurbished can cost a lot to insure. An overhaul of the car is necessary to get better performance out of it. The reason that you will be charged more for an unpredictable car is numerous. The insurance company knows that a car that is older will not perform in a stable manner. The engine can suddenly seize up on the freeway and cause a serious accident. The damage can be very serious at such high speeds as that on the freeway. It can also include serious personal injury or even death. Hence at certain times, the insurance company will also ask you not to drive on the highway or the freeway in order to avoid serious incidents. A mileage limit can also be put on your car. This basically depends on the deal that you cut with your insurance company.
Relatively newer cars can be much more easily insured. The sort of rates will also be much cheaper. This is largely based again on the performance of the car. Sometimes the insurance company will have designated mechanic shops which specialize in classic cars under their commission. They will require you to get your car periodically checked up at such places. This way they can ensure that your car is up to speed with their requirements.
You can reduce your insurance rates by making sure that your car is in good working order. Make sure that you get a good car in the first place. And periodic maintenance can also ensure that your insurance rates are maintained low. You can reduce your rates by conveying to your insurance company that you are not going to be driving your car extensively. If it is just a weekend car and not a daily commuter, you can shave off at least fifty percent of the insurance costs. It is important to ensure that you do not drive your classic car like a daily commuter. This can result in valuable wear and tear and also as a consequence shoot up your car insurance rates. Make sure you check with your local insurance company about the terms and conditions that they offer for classic cars in your vicinity.