Car Insurance For Classic Car in Oklahoma

Reader’s Question:

My husband recently bought a classic car that he plans to rebuild. Should we buy car insurance for it?

Lanie

Oklahoma City OK

 

The rule of thumb is, the moment you buy a car, you should also purchase car insurance. When it comes to classic cars though, there may be some exceptions. But before that, let’s talk a bit about classic cars. For a lot of people, buying and rebuilding classic cars is more of a hobby than a need. The question that you need to answer first before asking about insurance is what does your husband plan on doing about the car?

If your husband is planning to just put it in the garage like a trophy, then chances are you may not need to buy insurance. Still I personally suggest that you get that insurance. Why? Because even if it is locked away in the garage, the car may still experience damage like having something fall on it. God forbid, someone may come in and steal it since undoubtedly it has a high market value. If however you or your husband want to cruise around in the car even for short distances, then car insurance is a must. This is the reason why I asked you earlier what you plan on doing with the car. A wrong decision now could have bad effects in the future.

Insuring a classic car is different than buying insurance for a regular car. Since it is not likely you will be driving the car on a regular basis, you would need less insurance for it. If you already have insurance for your other car, check with your current insurer if they have policies for classic cars. Not all insurance companies are willing to insure classic cars. Cars of this kind also need specialized insurance since not all repair shop will fix it.

As a final note, although your husband may have done all the work restoring the car, you too have contributed by giving him the time and supporting him in his endeavor, If you’re not careful with your car insurance then all this would go to waste. We wouldn’t want that now would we?

Cheap Auto Insurance For Older Car

Reader’s Question:

I am planning to purchase an older car for my teenage daughter. Where can I get cheap auto insurance quotes for it?

Elizabeth

Sterling Heights, MI

When shopping for a car, it is important to know how insurance companies will rate it, so that you get to pay reasonable rates on the coverage. Auto insurance companies have devised a system to categorize cars. Those that belong to the higher category are more expensive to insure. So, it would be good to obtain a car that falls under the lowest category. Buy one that has a low performance engine as this is categorized as cheaper to insure. You should never forget to check the car’s mileage. Be sure to get only that which has run not more than 200,000 miles. Anything beyond that will be a headache for you and your auto insurer. You should also purchase one that has been loaded with safety features such as automatic locking seat belts, front and side airbags, traction control, etc., so that comprehensive auto insurance coverage will not be that expensive. You should also enroll your daughter in a defensive driving class. This way, she gets to learn valuable driving skills that could keep her away from road accidents. This would also qualify you to get discounts on your auto insurance premiums. Lastly, research on the prevailing rates in your area. This way, you get to know which companies offer cheap auto insurance quotes.

Collector Car Insurance Houston

Reader Question:  I live in Houston Texas and have two old collector cars that I would like to get auto insurance for.  I currently do not drive them and they just sit in my garage but my son wants to start one of them and put it on the road. Does anyone have a suggestion as to who to contact to compare rates for collector car insurance?

Ray,

Houston, TX

Hi Ray,

I own a collector car as well and had a hard time getting a carrier to cover it without charging an arm and a leg.   Progressive was who I eventually decided to hand over my hard earned money to.  You can compare them and others from this site, and that might be the best way for you to start.  Be prepared to get a few phone calls from agents….so make them work for their commission and get you the best rate.

Dave

Are You Looking For Classic Car Insurance in Texas?

Reader’s Question:

Is there a special type of auto insurance broker that I can work with to insure my classic car here in Texas?

Neil

Austin, TX

Classic car insurance is an exceptional kind of insurance available to those who have collector cars. Normally, there are dedicated car insurance companies in Texas that give coverage for classic car insurance. These insurers have their own insurance agents or else, a broker could also market these kinds of policies. Normally, an auto insurance broker has details about all types of insurance available. In case a classic vehicle owner seeks the help of an agent of a conventional auto insurance provider, the driver may be declined to insure the classic vehicle. That is because not every auto insurance company insure classic vehicles. Hence, a classic car insurance broker would be the best person to deal with for thorough rates comparison.

One other benefit of dealing with a classic car insurance broker is that he/she would give fair comparison of rates given by a lot of insurers. Conversely, a car insurance agent for a specific insurer would only have details about that specific insurer. A classic car insurance broker is also aware of the exact needs of the vehicle owner and could explain different terms like limited mileage auto insurance or no claims discount auto insurance.

Free Online Car Insurance Quotes For Old Cars

Reader’s Question:

I am from Kansas, and I am wondering where I can get free online car insurance quote for an old car?

Kristen

Wichita, KS

If what you mean is a collectible auto, then you can check the websites of car insurance companies. Most, if not all, offer specialty insurance coverage for modified or collectible automobiles. This type of specialty insurance is very crucial as a collectible automobile may not be adequately insured with a regular car insurance policy. The Comprehensive Insurance included in a regular policy only pays for the vehicle’s actual cash value (ACV). So, if your vintage automobile gets totaled in an accident, you will be lucky to get half of the amount you paid for when you bought it from the dealer. This means that all the expenses you incurred to have it restored will just go down the drain. This will not be the case if you get collectible automobile insurance as an agreed amount to have the vehicle insured is arrived at from the time you obtained the policy. So if you had the collectible automobile insured for $90,000, then you get the said amount without any arguments following a covered accident.

If what you mean by “old” is a clunker, then the best way to have it insured is by getting minimum liability insurance and Personal Injury Protection as the no-fault law of the State of Kansas requires. But you might want to think twice about getting the supplemental Collision and Comprehensive Insurance. Since what you have is an old vehicle, that would probably not fetch as much when sold in a used vehicle garage. Then it means, too, that Collision and Comprehensive Insurance will not pay as much to have it repaired or replaced after an accident. But if you want to go ahead and get this insurance, anyway, you might want to consider getting higher deductibles, so that you can lower your overall car insurance premiums.

A free online car insurance quote is readily presented in any car insurance company website. Most car insurance sites require that you declare the make, type and history of the automobile before they give out a free online car insurance quote. For specialty insurance, it would probably be better to contact the car insurance company or a local agent directly as there may be some negotiations involved regarding the insurable amount.