Not everyone can afford to own a classic car. Most people with a vintage model car have it for one of two reasons.  They either inherited it or have invested a substantial sum of money to purchase  and restore the car themselves.  The major risk when it comes to  a classic car is not an auto accident but rather theft or damage. Some models are so rare that once they are stolen, it can be almost impossible to replace them. Hence, owners are called upon to familiarize themselves with the insurance requirements for such vehicles. Meticulous reading of the classic car insurance policy form fine print is the only way of getting the best rate on classic car insurance.

Classic cars appreciate in value depending on the number of years  and overall condition. The amount of money it costs to maintain the vehicle in original condition despite its age can be quite substantial. Therefore, it is imperative to insure your vintage car in case the worst happens. Auto insurance companies usually rate classic cars with age. Vehicles manufactured prior to the turn of the Twentieth Century are referred to as antiques. Vehicles manufactured between 1902-1933 falls under the vintage catagory, while those that are 35 years or older are referred to as classics.

The above categories of vehicles by all means require a special kind of car insurance. This coverage usually varies for particular classical cars. Direct auto insurance companies also have specific requirements for those wishing to insure vintages. The most basic requirement is that the car should not be your primary mode of travel. The car should also be in superb working condition. It must also be old enough to rank as a classic, and its use should be constrained to exhibitions or club activities. You must always store the vehicle in a safe, fully enclosed garage which is kept under lock and key.

Direct car insurance companies usually provide individual insurance coverage for classic cars. Each vehicle is insured according to its own risks. Common options which are offered include:

Collision Coverage Protects your classical car against the risk of damage caused by accidental collision against specified objects.

Location Coverage Protects your vehicle against risks that may occur while the vehicle is in storage.

Spare Parts Coverage Compensates you in case damage or theft  occurs and the car requires replacement of spare parts.

Comprehensive Auto-Insurance Coverage A comprehensive Coverage provides your classical vehicle with complete protection against a myriad of risk factors including theft.

Car Insurance for classic vehicles has many stipulations and costs a lot more than for an ordinary automobile. It is advisable to insure your vintage with auto insurance companies that specialize in such types of cars. Ensure you fully comprehend the terms and condition of the policy, since classical cars have individual insurance requirements. You might be in for a rude shock if you fail to comply with any of the stipulations and your classic gets involved in an accident. Hence, proper paperwork and good research are the best ways of getting the best rate on classic car insurance.