When you grow up watching classic cars in the movies and seeing the coolest people you know driving those vintage Camaros, it can become a lifelong dream to save up and buy one of your own. Once you are ready to make that purchase, many people have questions about the other costs involved, such as maintenance and especially which vintage car insurance, such as Hartford AARP, is the right choice to protect them.
One thing that often surprises collectors of classic Camaros is the affordability of coverage. According to Property Casualty 360, the premiums for classic and collectible cars are actually cheaper that policies for standard automobiles. Collectors generally pay 25-33 percent of what they would for a “daily-drive” vehicle. Once the customer combines some of the basic factors of policy prices with that of classic car insurance, it’s not too difficult to understand the affected prices.
Frequency of Use
This is the primary reason why classic policies are normally less than your average policy. If a collector is only driving their car 2,500 miles per year or less, they don’t have to worry about paying top dollar for something that is only used on special occasions.
Bundling
Combining your car policies is generally a good idea. You can save on the bottom line, which might be your best bet in the way of discounts – as security systems and other “standard” discounts may not apply.
The Car
The normal array of policy factors applies with Collector Car Insurance. With most classic Camaros, the variation in car condition and year could command appropriate pricing, based on potential repair costs and other factors. Make sure you set an agreed-upon value of the car with your insurer as well. According to liveinsurancenews.com, “many insurers will provide only the vehicle’s market value if it is ever totaled, which may not actually reflect the worth of the vehicle.”
Location
Location is key with classic cars, as with a standard policy. While the importance may be slightly less, classic car owners can expect to pay more in traditionally-pricier areas. This factor can be linked to the frequency of use as well.
Your Demographic
There are a number of factors about the driver that apply in the price of a policy. Your age and gender could play a noticeable (although slightly less significant than in a standard policy) role in this type of a policy. Make sure you get all information from your insurance agent.
Your Driving Record
If you have a number of traffic violations or accidents your rates would naturally be higher. Regardless of the car policy, the driver’s record certainly comes into play with regard to rates. Keeping a safe driving record is one of the best ways to keep premiums as low as possible.
Other Dynamics
There are some notable possibilities that could affect your rates. For instance, if someone else may be driving your vintage Camaro, that could have an effect on the cost of your policy. Your credit score may also come into play. The type of coverage that you choose will command your rates – you might opt for more coverage depending on your needs, thus raising your rates.
Be sure to look at your policy factors in order to determine what is the best insurance option for you. Once you start comparing policies, you’ll be able to choose not only a competitive price, but the policy with the coverage that suits your needs.
Guest Camaro Blogger
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