Classic Car Insurance
Classic cars are great investments not only because they look good, but also because their value increases over time. Owning one is not only a source of pride and joy but also of great responsibility.
Owning a classic car means being required to have a classic car insurance policy. Generally, speaking, if you own a vehicle, you should have auto insurance coverage. Not having this could land you in hot water with the law, risking facing a penalty of suspension of your driver’s license and vehicle registration.
Classic Car Insurance?
For your car to be considered a classic car that fits the requirements for insurance coverage, it must, first and foremost be at least 15 years old, with a mileage of no more than 5,000 miles per year. Most importantly, it must be in mint condition, even while it is being driven as a second car.
Apart from this, there is also an age requirement for the driver, which is 25 years old. If below this age, then there must be a co-signer for this policy. Not to mention, the driver must have driving experience of at least 5 to 10 years.
These are just the tip of the iceberg when it comes to applying for classic car insurance coverage. Smoller Insurance Agency in Newton, MA can help you better understand the rest of the requirements so you can get the policy that suits you best.
Expected Costs
Compared to typical auto insurance, classic car insurance tends to be cheaper precisely because of the strict requirements attached to it. These stringent qualifications (age of driver and years of driving experience) help ensure that the one handling the vehicle will be able to take care of it.
Competing for costs is best left in the hands of professionals such as Smoller Insurance Agency in Newton, MA, so set up an appointment today to get your questions answered.
