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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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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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Save 20% or More by Insuring Your Classic Car With a Specialized Car Insurance Policy

A recent study published by the Chicago Tribune revealed that a huge percentage of classic car owners are paying far too much for their insurance coverage. Why? Because they’re working with the wrong car insurance companies!

When you think about insuring your classic car, what’s the first thing you think of? For a huge percentage of first time classic car owners the answer to that is, your friendly neighborhood car insurance companies. Isn’t it? Many classic car owners are insuring their collectibles with the same insurance providers they’re using to protect their family sedan. What makes that a bad idea? There are some major differences between yesterday’s classics and antiques and today’s grocery getters, and those differences could be costing you thousands.

What would you say spends more time on the road, your carefully restored classic beauty or your ten year old, four door family sedan? Your family car, of course! The more time your car spends on the road (whether you’re driving to and from work, to and from family or to and from a hot night on the town) the more likely you are to be involved in an accident. The more likely you are to be involved in an accident the more likely you are have to file auto insurance claims.

And the more likely you are to have to file auto insurance claims the more likely you are to cost your car insurance company money.

What does that mean for you as a classic car owner? It means that auto insurance policies designed for regular commuter vehicles are designed for cars that are at a much higher risk than the gorgeous Mustang convertible sitting out in your garage! The average commuter car travels 15,000-30,000 miles per year. The average collectible travels only 2,000. Owners tend to be considerably more careful with their collector’s cars, both at home and out on the highways. That makes them an insurer’s dream.

If you’re insuring your collectible car under the same policy you have on your regular family car, you’re probably paying way too much. You’re insuring against risks that are unlikely to ever manifest, and because of that you’re spending money you could be spending elsewhere-like on your next rehab. That’s why it makes more sense to go looking for a company that specializes in collectible cars when you’re looking for someone to insure your classic care.

These companies usually have very strict guidelines about how you must take care of your car and how much time you’re allowed to spend out on the road, but most of these are common sense guidelines that you’re probably following anyway. More importantly, these policies are specifically designed for collectibles and therefore are able to give you high quality coverage at much lower auto insurance rates.

As much as 20% or more, says the Tribune.

You want your baby protected, but you want to protect your financial resources while you’re at it. If you’re still insuring your classic car with a regular car insurance policy it’s time to talk to your insurance agent to see if they can offer you a better deal. Both you and your car deserve it.

Mike McDonough is a National Account Representative with QuoteScout.com. For more information on buying car insurance for your classic car, visit them on the web at http://www.QuoteScout.com.

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