Classic Car Collectors

Classic Car Collectors

Classic Car Insurance For Motorists

The following article will give classic, vintage car buffs the low down on the actual differences that exist between classic car insurance and standard auto insurance. If you love and own classic cars and are busy looking for the best insurance deals available, this article not only gives you the right information you need, but also busts a few popular myths regarding classic car insurance as compared to standard auto insurance.

Many owners of vintage vehicles assume that the only way to insure their collector car is to put it into the family auto policy. That's not true. The only policy that properly insures the investment car buffs have made on their prized classic car is the classic car insurance policy.

Classic car insurance is less expensive than standard auto insurance, but these companies require you to fulfil a few necessary criteria before you can qualify for their programs and get those great deals and low rates. Here are some of the primary restrictions vintage car owners have to face:

Before you get that good rate on your insurance coverage, the insurance companies will want to know the age of the driver (as many companies require you to meet a certain driver's-age restrictions), the mileage of your car ( there may be mileage restrictions to meet also), vehicle age qualifications and housing and garage provisions.

In many cases, insurance policies for classic car insurance and those for standard auto insurance can differ a lot. Most standard auto insurance policies will insure the vehicle for its current price, subtracting depreciation. What this means is that, with an increase in the age and usage of the car, its value will decrease. But this is not the case with a vintage vehicle. For this, its value will increase over time provided the collector maintains his vehicle well. This is due to the fact that collectors truly treasure their precious collectible autos. They are not used for similar purposes as daily-use cars and are not driven very often.

To provide the necessary coverage in such a situation, classic car insurance providers usually offer an "Agreed Value Coverage". This essentially means that you, the insured, and the classic car insurance agent, will agree upon the value of your vehicle up front. Such a vehicle valuation will give the full market value of the classic car as stated on the policy and factor in appreciation to the value in a time of loss.

There may also be some carriers that will offer low or no deductibles for comprehensive and collision coverage. Many times they will also provide coverage for spare parts or accessories that are not on or in your classic car. You won't get that kind of coverage on your family auto policy.

As you see, getting a classic car insurance policy can be much more beneficial to your prized classic car than clubbing it under your general family auto policy. A vintage collectible needs to be treated specially; so why settle for the ordinary when it comes to choosing insurance?

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Value of classic motorcycles?

I'm an expert on the classic car market, but I don't know too much about the collectivity of classic motorcycles. I was just looking at 50's and 60's Harleys for sale, and they didn't seem to be asking much for them. Is there not a big collector's market for older motorcycles, or are certain ones really rare and more valuable?

Please let me know, because I'm really curious.
I just think the motorcycle market is kind of goofy if a 1950's Harley in perfect shape is worth less then a new one. I wish the car market was that way, because then I could buy a pristine '71 Cuda for 10 grand.

Harleys are pretty much a dime a dozen. Reason, they so rarely changed engine designs or overall looks. Sometimes for a decade or so the only thing that would change was the color of the handgrips. Or perhaps the angle of the bars.

There is a market for older motorcycles but you have to get back into the Excelsiors, Black Vincents, Indians, Reading Standards, and other brands that have since ended production, at one time there were like 200 motorcycle manufactors in this country. It is these bikes that's when you start getting into some major bucks and major collectability.

1971 Buick Riviera Boat Tail Rare Classic Car