How to Calculate Classic Car Insurance

If you possess a classic car you need to see to it that you don’t get insured under a common automobile policy. Doing that would leave in a financial loss in case of theft. . So to avoid such type of situations one must take into consideration following points before taking classic car insurance:

1. One should always evaluate the valuation clause. There are 3 types of evaluation used for classic car insurance which includes the stated amount, the agreed value, and the actual cash value. Always be clear in which valuation suits the best for your car with your insurance agent.
2. Always review the usage terms. If your insurance company covers only your classic car on the way from and to antique shows then one needs to be clear that this insurance would not cover a fun ride to the mall.
3. Check out the garaging requirements. Many of the policies have a requirement that the classic cars be garaged within the structure they have decided upon. If one parks the vehicle in an open driveway, then it needs to be checked that you have a garaging clause amended to make sure that the car is properly covered taking into account this parameter.
4. One needs to evaluate the deductibles. Depending on the valuation one chooses, the classic car insurance policy may not have a deductible. If one has deductible it needs to be made clear with the insurance agent for removing it.
5. One needs to shop around for receiving the best policy at the best price. If the previous stages have yielded the coverage one wants for classic car, the only thing left out would be to get coverage for best price possible.