Antique Auto Insurance – How Do You Get an Affordable Premium?
by Nicholas Vernon
If you are reading this article, it is a pretty safe assumption to say you are looking to purchase antique automobile insurance. Before you purchase antique auto insurance, are you confidant you know everything that goes along with doing so? If not, read on for further detail.
Antique vehicle auto insurance is a must. When someone owns an antique automobile, this is typically their pride and joy; rightfully so. Many hours and hard work were put into the project if the car was restored. It would be a shame to have something happen and not be covered appropriately. This is why not only obtaining car insurance is important, but making sure you follow the proper steps to make sure all your bases are covered.
The most common mistake an antique car owner will make is getting antique auto insurance, and thinks everything is just fine. If something happens to their vehicle, they will get what they put into it. In most cases, this is wrong. The insurance company will give you what the car is worth; by book value. If you have an antique car worth 35k by the books, but you sunk 160k into the car for restoration, etc., you will get the book value. There is, however, a way to make sure you get full coverage. This comes in the form of a professional appraiser.
Why do I need an Appraiser?
Besides the above mentioned reason, a professional appraisal is necessary or handy for many other situations.
1.If you are looking to finance the vehicle: you will need an appraisal
2.Legal disputes: If you happen to find yourself in a legal dispute, you will need to have appraised value on your properties. Being that an antique car is a valuable asset, this will definitely be a requirement.
3.Insurance Disputes: If your insurance feels they do not need to cover a situation, it is always viable to have an appraisal to assure the car was in the condition and had the modifications before any other alteration.
4.Diminished values: If anything diminishes in value, it is recorded at the time of the appraisal that X amount of money was invested in your particular antique automobile.
5.Divorces, Estates and Probate Cases: All situations where appraisals are a must. In these cases, property is allotted according to value, etc.
Where can I find Antique Automobile Appraisals When Getting Auto Insurance?
Online is a great place to find antique automobile insurance and automobile appraisals. It allows you to browse and compare different companies and rates. Whomever you decide to choose for antique automobile insurance and the appraisal, make sure you are covered to the fullest extent.
If you are wanting to check car insurance prices go to my website, put in your zip code, choose one of the companies that come up, and fill out one of their forms. It’s free and cant hurt any, you might even save some money.
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