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3 Good Reasons for Buying a Classic Car

Financial
Buying a classic car can make excellent financial sense. So long as you look after your classic, you are in with a good chance of at least maintaining the value of the car throughout the time you keep it. In rare cases it may appreciate in value!

As for the cost of insurance, the cost of insuring a classic car when compared with the premium asked for a more modern car could turn out to be considerably less. It is well worth looking around to see how the quotes compare.

Then there’s road tax. As long as your classic was built pre-1973, it should qualify for zero rated road tax. You still need to display a tax disc but that’s money saved and in your pocket.

Social
Ask many owners why they run a classic car and they often reply that owning and running one can be a very sociable pastime indeed, depending on your approach. Simply running an old car means you could get waved at by other like-minded individuals as you drive around in your own historic machine. If you so choose, you can go one step further and join a classic owners club.

Whether you join a club specialising in a particular marque, or a local classic club catering for owners of any oddball machines, you can be sure to have some fun and at the same time have a rich vein of knowledge in which to tap into should you encounter a problem with your own car. Members are always willing to help out with advice, or sometimes even the loan of tools. Many of the larger one-make clubs also remanufacture rare spares for your particular car, so for that reason alone it pays to join.

Environmental
There are some sound environmental benefits to running an older classic car. With all the energy and resulting pollution that goes into producing a brand new car, why not buy a classic instead. This is an excellent example of re-using something that is a little older, instead of automatically binning it and replacing with a later model.

Most Classics are ok to run on unleaded just like modern cars do. Admittedly some classics do require a few modifications before they can do a significant mileage on unleaded, but yet again this is an example of modifying and adapting an existing resource (in this case an old car) to modern conditions, instead of just junking it and replacing with a new car.
Older cars lend themselves to maintenance in ways that no modern car can hope to do. Most components in cars of the 1970s and earlier can usually be stripped down, the failed part located, and that one item replaced quite cheaply. Compare this to a new car with its sealed for life black boxes which are destined for the bin and immediate replacement, upon showing a problem.

There you go. Three simple reasons why buying yourself that classic car of your dreams might not be such a crazy idea after all.

Sureterm are pleased to offer Classic Car articles for enthusiasts that include buying, how-to guides and latest news. For Classic Insurance, visit one of the UK?s most competitive insurance specialists ? Sureterm Direct.

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Muscle Car Insurance – Four Requirements When Choosing An Insurance Policy

   Specialty muscle car insurance is one thing that you need to look into if you drive a classic muscle car.  A normal insurance policy with the same company that provides you with the insurance for your commuter car may be costing you way more than it should, and you may be quite disappointed with your reimbursement amount if you ever have to file a claim.  An insurance company that specializes in classic cars can usually offer you a policy with more appropriate coverage, at a much more reasonable cost, than your normal insurance company.
   The first thing to check on when researching a specialty insurance policy is the A.M Best rating of an insurance company’s underwriter.  You want to make sure the underwriter is financially solid and stable, so only use an insurance company whose underwriter has a rating of “A-” or better.  Find out who the underwriter for your policy will be, and check their rating on A.M. Best’s website.
   The second point to check on is if the muscle car insurance provider is offering you an Agreed Value policy.  Your commuter car is most likely covered with an Actual Cash Value policy, Stated Value or Stated Amount policy.  These types of policies assume that your car depreciates over time, and they don’t take into account the collector value of your muscle car.  Agreed Value policies require you to come to an agreement with your insurance company on what your car is worth at the time the policy is initiated.  In the event of a total loss, your insurance company will reimburse you the Agreed Value, instead of what they think it is worth.  Verify that the muscle car insurance company in question is offering an Agreed Value policy.
   The third point to look at when choosing a muscle car insurance  policy is if it will cover the cost of repairs at the repair shop of YOUR choice.  You probably don’t want to take your pride and joy to a body shop that churns out lots of “merely acceptable” repairs on late model cars.  Many insurance policies will not cover the extra cost of taking your muscle car to a repair shop that specializes in restoring muscle cars.  Make sure you get a policy that will cover the extra cost of high quality work.
   The fourth point to require of your muscle car insurance policy is that it cover the extra cost of original equipment repair parts.  With the popularity of muscle cars these days, there are some rather low-quality replacement parts being made, which would detract from the value of your car and/or require extra labor to bring them into shape.  Make sure your insurance policy will cover the additional cost of using original equipment replacement parts.
   When getting a quote for a muscle car insurance policy, make sure that it is underwritten by a financially stable company and that it is an Agreed Value type of policy.  Verify that the policy will cover the cost of repairs at the shop of your own choosing and the extra cost of original equipment replacement parts.  Once you have those four criteria met, you are on your way to making a good decision on a muscle car insurance policy.

There are several other points you still need to look at, though. Take a look at American Classic Car Insurance for more in-depth information on the four requirements. Then go to Classic Car Insurance Quotes to learn about the rest of the factors you need to consider when choosing a muscle car insurance policy.

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Insurance of Antique and Classic Cars

Classic, antique and vintage cars are unique types of cars to which great value is attached. Their owners consider these cars as investments worth protecting. Insurance of these cars is thus a necessary step as accidents and such other incidents are bound to happen. It is advised that insurance of these unique cars should be carefully considered if one is to fully reap the benefits of insurance.
 
Insurance specialists have proposed measures that individuals owning such unique cars need to observe in their quest to getting them insured. Among the proposed measures is that individuals should go for the kind of insurance that covers the actual use to which the car is put. The uses could vary from occasional driving to car shows and motor parades, or running of a number of day to day errands. This measure ensures that if anything happens that may affect the operating condition of your car, you will be fully compensated for any loss.

Individuals are also advised to visit as many insurance providers as possible. This is to ensure that they not only get the best deal, but also to avoid paying for more insurance than they need. Insurance premiums differ from provider to provider, and in some cases some providers use hideous means to charge high premiums. Getting different quotes from different providers puts an individual in a better position to choose the best insurance policy for his car.

Another proposed measure includes careful consideration of insurance policies that may limit the parking and storage of these cars according to given restrictions. Individuals are also advised to look out and seek the definition of the insurer of stated and agreed insurance values. Some insurance policies give directives on how the insured car should be packed. For instance, they may state that the antique or classic car be packed in a closed garage. Individuals should be sure about this so as not to miss out on their car compensation in case of any incident.

Being special cars, vintage, antique and classic cars need more than what the traditional forms of insurance offer. The value attached to these cars and the uses to which they are put opens up other aspects which may not be fully covered by the other forms of insurance. There is therefore available in the market types of insurance suited for these cars.

Specialty Insurance is the most recommended type of insurance for classic and antique cars. It is an insurance policy that will cover such cars that are already covered by other forms of insurance. It takes into account the other aspects of the car that have not been covered in the already existing insurance covers. This type of insurance is based on the “Agreed Value” principle. This is where the individual owner agrees to insure the car for a certain amount which does not depreciate with the value of the car. This is unlike the traditional insurance methods whereby the amount of compensation advanced to an individual in case of an accident or any such incident is determined according to the depreciation value of the car.

Have a fun and safe time on the road, and visit us to find the best deal on the insurance coverage you need. Get money-saving tips, affordable auto insurance rates and helpful advice about finding the cheapest insurance from Auto Insurance Rates Direct today.

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