What to look out for when buying vintage car insurance?
Taking out vintage car insurance differs in parts from taking out regular car insurance. We would like to explain to you what you should pay special attention to when choosing the right insurance for your precious vintage car.
Vintage car insurance is cheap compared to insuring a modern car. This is not caused by the fact that vintage cars are safer. There is another thought behind that. Owners are often more careful with their prized possession, but the big difference is made by how the car is used. Oldtimers are often not used for daily driving, but rather recreationally. You are also often only allowed to drive a maximum of a few thousand kilometers per year in the vintage car. Do you drive more? Then again, you should opt for regular motor insurance.
How many miles per year do you drive the vintage car?
Vintage car insurance is not suitable for a car you drive to work every day. Insurers often set a maximum on how many miles you can drive with the vintage car per year. The maximum varies per insurer. There may be a maximum of 5,000 kilometers per year, but 7,500 kilometers is also possible. Do you drive more or do you use the vintage car for daily use? Then you can choose the regular car insurance instead of the oldtimer insurance.
When can you choose vintage car insurance?
For example, if a car is not considered a vintage car according to the Internal Revenue Service, it may be for insurance purposes. There are different standards for this. Again, they vary by insurer. An insurer may state that the car must be at least 20 or 25 years old. Another yardstick is whether or not a car is still in production. In that case, only a vehicle that is no longer in production and meets additional requirements is a vintage car. Insurers may even require special clubs for the make and type as a requirement for vintage car insurance.
Insure a high-value vintage car properly
You can choose the cheapest form of insurance, but if your vintage car has a high value, this is not wise. The cheapest oldtimer insurance pays namely only damage caused by the oldtimer to the other party. For the insurance forms WA limited casco and WA-cascois a valuation is necessary to determine the value of the oldtimer. This also prevents a discussion about the amount of the value in case of damage.
Don't forget your claim-free years
Have you terminated a motor insurance policy in the past few years? Check whether you have accumulated claim-free years in this policy. You can use these years for the old-timer insurance. You are entitled to a high discount which can save you a lot of money on the premium.
Also read:
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