Tuesday, 14 February 2012

The Finer Details of Classic Car Insurance

Insurance of Classic and antique cars is called by different names by different people. Some people like to call it Antique car insurance; some others prefer to say Vintage cars insurance while some others like the name Collector cars insurance. Only a few people call it old car insurance. However, the insurance cover offered in all these cases is just the same – insurance cover in respect of your old or classic car. The classic car insurance Kingston offers indemnity against harm or damage to the vehicle itself, as well as risk caused by the car to  yourself as well as some others who may come in contact with the car.
Classic Car Insurance Kingston

While the expression classic car insurance or collector’s car insurance is used to explain some vehicle that is old and antique and belonging to the early part of the 20th century, both domestic as well as international, they are not inexpensive in any respect. In fact, most insurance companies are only too willing to provide insurance covers for classic cars, which are in good condition. The most common models that are insured are the 1930 Ford Model - A Pick-up Truck, a ‘62 Ruby Red colored Volkswagen Beetle or any other old, noisy car as long as it qualifies as an antique car.

A few mandatory requirements as specified by the insurance companies in respect of classic car insurance Kingston are:

  • The most important requirement that each insurer expects from the insured is that he uses the classic car sparingly.
  • That is the car must not be used as a daily vehicle for general travelling.
  • The classic car should have an appraised value of not more than $ 150000.
  • The age of the classic car or the antique car must not be less than 25 years. That is it can be 25 years or older.
  • In case of vehicles of special interest, like collectors’ vehicles or hobby cars, the age as defined by the insurers is between 15 and 24 years.
  • The antique car must be well maintained and in perfect condition.
  • The owner must take due care to avoid accidents and loss or damage to third party property or person.

Classic car insurance Kingston generally takes into consideration the following aspects before granting the cover:
·         The age of the driver
·         Driving history of the driver
·         The location of vehicle
·         The number of modifications made to the car
·         Number of kilometers that the car runs in the particular year
·         Age of the car
·         Condition of the car

It is mandatory for a person taking the classic car insurance Kingston to have at least ten years of driving history with no major claims. Any vehicle that you use on a daily basis will not be covered under this insurance policy. In a few cases, the policy is taken on agreed value basis that is the insurance company agrees with the value of the vehicle as you put it, at the time of granting the insurance cover.

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