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Classic car insurance
Collector's car insurance
can cover three categories; veteran cars manufactured before 1903, vintage
cars manufactured after 1903 and classics cars at least fifteen years
old. To add to the confusion, the definition of a 'classic' can vary depending
on the insurer. Many of the larger motor insurance companies do not offer
special classic car insurance at all and only provide the same type of
insurance cover as they do to those who drive modern vehicles.
For the best deal
in classic car insurance, get quotes from specialist insurers, their specific
insurance schemes are tailored to fit your requirements and their rates
are usually better, try RAC or Motorquote
Direct. Special rates for classic car insurance are sometimes available
for enthusiast club members.
Classic car insurance
is cheaper than a modern car policy, but it is important to note that
this assumes a very limited mileage and the garaging of the vehicle in
ideal circumstances. The condition and scarcity of classic cars varies
dramatically. The time to agree a valuation with your insurer is before
buying classic car insuranceand not after a claim arises.
The main difference
between normal car insurance and classic car insurance is the "agreed
valuation". An agreed valuation is the value guaranteed by the insurer
should the vehicle be stolen or damaged beyond repair which is a very
infrequent occurrence. Make sure to check that your valuation is 'guaranteed',
as it has been known that insurers have refused to pay the full amount,
despite the owner believing that they were fully covered.
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Compare insurance prices
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The disadvantage
of price comparison websites is that the cheapest on the list will
usually have the least amount of cover so it is very difficult to compare
like for like.
An insurance broker
compares 100s of similar polices and gives you the cheapest for the level
of cover you requested
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Direct only insurance deals
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Cashback, online
discounts, multi-car, home/motor discount and other special deals may
not show up on comparison sites so it's always worth going direct to the
insurer, some companies like DirectLine do not advertise on price comparison
websites.
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