Sunday, May 25, 2014

Learn to save even on vintage car insurance

Owning a vintage car is a great source of pride and a way to distinct oneself from the ordinary car owners by having a vehicle that is part of the automobile history. The number of vintage car enthusiasts is growing all over the world, but it seems that the USA is one of the main centers of this fascination. Old cars are being dug out of garages and scrapyards, invested huge amounts of money in and taken back on the road regardless the cost. And while their owners are definitely happy at first, the question of insurance becomes rather apparent very soon, casting a sobering shadow over the prospect of owning a vintage car. So what are the usual car insurance quotes for vintage vehicles?
The cost of insurance
Before you start comparing car insurance quotes and getting surprised with the enormous prices for vintage vehicles, you have to understand the pricing mechanisms involved. A huge part of the costs the insurance companies deal with is made up of repair costs resulting from various accidents. And it's obvious that the average car insurance quotes for a particular car model will depend on its average repair costs. Modern mass-produced cars have very different repair costs on their own, but they don't stand a chance when you compare them to a car that was last produced several decades ago with a scarcity of car parts verging on collecting. Imagine the costs implied with repairing such a car - the insurer will have to literally search for the repair part among car enthusiasts and also find a mechanic who will be able to make the fix. Now you can probably see why vintage cars are so expensive to insure.
Available options
There are two main options for vintage car owners to think about when it comes to insuring their beloved vehicle. Both options have their advantages and disadvantages to consider. But one thing you have to bear in mind is that either way you won't be able to get low car insurance quotes, not with a vintage or a classic vehicle. So if that's your primary goal - just find a modern car model that is cheap to insure right from the start. If not, here are your options:
Traditional providers: ordinary car insurance companies that provide car insurance quotes for modern-day cars will usually offer coverage for vintage cars as well, although some may refuse right away. If they do provide you with coverage it will usually be offered through a specialized policy that will have many restrictions and special provisions. Besides, the car is likely to go through an appraisal to determine its actual collectible value and respective amount of coverage. But in many cases traditional companies may simply lack contacts with specialized car mechanics that are qualified in repairing vintage cars, leaving the repairs to ordinary shops and mechanics. Needless to say, the quality of repairs in such case is usually inferior.
Specialized providers: some vintage car enthusiast clubs in different parts of the country have partially grown into specialized insurance companies aimed exactly at vintage car owners. Being comprised by enthusiasts themselves the level of customer support is obviously very high as you will be able to communicate with people who share the same needs. And it will always be easier to find the missing part or a good mechanic to make the authentic fix. However, this sense of community usually comes at a higher price since the market of vintage vehicles is much smaller than of ordinary cars and respectively there are fewer people to distribute the costs among.
Choosing the lesser evil
Now, choosing between the two options is definitely a question of personal preference and needs. If you need just a formal policy to keep the car insured and don't want to deal with very expensive car insurance quotes then a traditional insurance provider will surely meet your needs. But if you want the best thing your money can buy and value quality over price then it's better to go with a specialized insurance company. Yet again, it also depends on the availability of these options in your particular area.