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?

Car Cheap Insurance For Women

Reader’s Question:

In my opinion, female drivers are not better drivers than males. But why are auto insurance rates for them cheaper than male’s rates?

John

Chicago IL

There are nice reasons and one of them is female file less claims than males. Figures shows that a male is more likely to file a claim and if a female driver files a claim, it is more likely to be a small amount compared to males.

Most females also want smaller vehicles which are inexpensive and low maintenance. Safety is also their first concern when buying a car compared to males who only want faster and bigger cars. Some males even modify their vehicle which makes it less safe. Cheaper car insurence rates are also offered to female drivers because they drive less and this makes them less prone to auto accidents. In most cases, male drivers drive longer distances than female, and if a female is going on a long trip, most females will look for a male driver to do the driving for them. Another reason is, female drivers tend to drive slowly and are more cautious or careful when it comes to getting in or out of parking spaces.

But what if all these advantages don’t make you content because you think your premiums is still not that reasonable? What should you do to make it even lower? The answer is to look for discounts you can be eligible for and take advantage of them.

For example, if you haven’t signed up in a defensive driving class, you’re missing a rough 5 to 15 percent discount. You can also reject different coverage so you can be sure your premiums will be reasonable. For example, remove the comprehensive and collision coverage if you believe your auto market value is smaller than your premium. You can also remove medical coverage if you think you have this coverage covered by your health insurance. Removing unwanted coverage can greatly lower your car insurance premium. You can try taking away rental and towing coverage and see how much you can save.