Classic cars are desirable, collectible items and have eye-catching features that set them apart from the crowd. They are different from other types of cars in that unfortunately they attract a large number of thieves who are aware they can make a great deal of money if they can sell the cars on the black market. Whether you drive your classic car regularly or not it is imperative to get specialist classic car insurance to ensure you are properly covered in the event of an accident or theft. It is extremely important for a car owner to select the best insurance policy for their car as every classic car has different needs.

Classic car insurance is quite different from other car insurance policies as far as the payment that is made in case of any loss. A regular car insurance policy pays the owner an actual value of cash or standard value to the owner when a claim is made. This means that the insurance company pays the car’s depreciated value. In contrast, with an insurance policy for classic cars, the insurance company pays a pre-agreed amount of the car if there is a claim filed.

Other types of insurance policy are offered for classic cars which the owner does not actually drive. To work out the premium, the insurance company will need to get the car appraised. It is important to read an insurance policy you take carefully as the in order to qualify for a claim, the policy holder must have fulfilled all the conditions required by the insurance company.

With Classic Cars it is usually necessary for the car owner to keep the car in a garage so that its security and safety is ensured. If the car is being driven, then the driver needs to have good record of driving in order to get a fair priced quote. The car should be at least 15 years old to be eligible for a classic car insurance policy. Since many classic cars have great value, it is advised for the car owners to carry out extensive research before choosing an appropriate insurance policy.