Who will insure my antique car?

Most insurance companies will insure your classic or antique car. The question is, how well will it be done? You can go online or to a direct writer and hopefully you will end up with the right coverage. Do your research about what could be available and do not take the first option you are given. You can also talk to an agent or broker who has a wide variety of markets to choose from. Ideally you will find an insurance company that has what you need for your particular situation.

Insurance companies have two interesting endorsements they like to use on classic and antique cars. The Standard Endorsement Form (SEF) 19 states a limit that the insurance company will pay up to. This is not a guarantee of how much will be paid, just a declaration that this must could be paid and no more. Depreciation could come into play and it is subject to the adjuster's and appraiser's reports.

The SEF 19a is a stated amount of what will be paid for a total loss to the vehicle. This means that the insurance company and you, the insured, have agreed that this is how much your vehicle is worth. If the vehicle is stolen or totally destroyed then this is the amount that will be paid to you.

The insurance companies also can limit the amount of use you have with your vehicle. Usually the vehicle cannot be driven to and from work. Isn't that a shame? If you own a beautiful vehicle you might enjoy driving it to work some day. Not only do you have the pleasure of driving the vehicle on a nice Summer day but you get to show it off to your co-workers.

Is there a limit on the mileage I can put on my ride? Some of the insurance companies will only allow you to drive your special vehicle to car shows or in parades. This might suit you but for most owners of an antique vehicle or a classic car, this would not be a satisfactory condition of the policy. Some of the insurance companies will allow you to buy extra coverage for when you are on vacation for 2-4 weeks at a time.

What about extra parts? Most people who own a special vehicle will pick up parts for their specific model when they come become available. So it is not unusual to see the "car buff" with a few thousand dollars worth of parts in his garage. Many of the insurance companies limit the amount paid out to $1000 in total parts. If you have a claim then you are "self-insuring" on the difference between the $1000 and what you actually have.

What about deductibles? It doesn't seem right to have the usual $500 deductible on Collision and Upset with the $250 deductible on Comprehensive coverage if I am only going to drive this vehicle in good weather. Even then I will be sure to be extra-careful each time I take this car on the road. Again, it varies from company to company. Some are better then others.

Do I need an appraisal? Not always. Some insurance companies know what your vehicle is worth and do not require the appraisal. Some insurance companies will not give you coverage without it.

Congratulations on having such a great vehicle. You take great pride in what you drive. Be sure to be careful about choosing the insurance to best give you the protection you need.