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Vintage Car Insurance – 5 Common Restrictions on Collector Auto Insurance Policies
Article by Keith Farren
There is no doubt about it, if you own and drive a collector car, there are many advantages to getting your insurance from a specialty insurance provider. They can offer you much better coverage for less money than a standard insurance policy from the company that insures your commuter car. However, the way that the vintage car insurance companies are able to offer better coverage for less money is that they place a number of restrictions or limitations on the policyholder and how the car is used. Some of these limitations may disqualify you from being able to get specialty insurance, or may be too restrictive for how your car is driven.
The first restrictions to consider are your age, driving experience, and driving record. Most vintage car insurance companies require that you be of a certain age or have a certain number of years behind the wheel. All of them that I have researched require a good driving record, and have a limit on the number of accidents or moving violations that you have had within a specified time frame.
The second restriction to consider is that most if not all specialty insurers require that you have a currently-insured daily driver vehicle in addition to your classic car. Some companies require that you have a daily driver vehicle for each licensed driver in your household. They will not offer a specialty insurance policy if your collector car is your main mode of transportation.
The third restriction to be aware of is that many vintage auto insurance policies have limits on how many miles the car can be driven each year. This may be a concern if you drive to a number of distant car shows or take it on vacation. Most will not allow you to use your collector car for your daily commute or for running errands, even if you meet the previous criteria of owning a daily driver. If you drive your car quite a bit, there are some antique car insurance companies that offer unlimited mileage policies, but the number of providers you have to choose from will be limited.
Fourth, you will likely be required to store your muscle car in a fully enclosed, locked garage when not in use. Some classic auto insurance companies even require that you send them photos of the garage where the car is stored! If your car is kept outside or even under a carport, you may have trouble getting a specialty insurance policy.
The fifth restriction you may run in to is that some collector auto insurance companies will only insure vehicles that are valued above a certain amount. If your vintage car happens to be a rusty four door sedan, your number of choices for specialty insurance providers will be somewhat limited.
Each insurance company is somewhat unique in their limitations and restrictions, but the above points are common to most collector car insurance companies. As long as you can meet the qualifications above and can live with the mileage limits, a specialty collector car insurance policy is most likely your best choice. It will save you money and provide you better coverage than using a conventional auto insurance policy and provider.
For more detailed information on what to look for in a vintage car insurance policy, visit American Classic Car Insurance. For a directory of the top collector auto insurance companies, take a look at Classic Car Insurance Companies.
About the Author
Keith Farren is an ASE Certified Master Technician with a BS in Business Administration, an Associate degree in Automotive Technology, and over twenty years of experience in the automotive industry.
Five Crazy But Common Car Insurance Exclusions
Article by David Masters
You buy your car insurance, you glance at the policy documents, and you assume you’re covered for all eventualities where your car is stolen or damaged. Think again.
Read through your policy documents in detail. Some insurers don’t cover injuries to passengers aged over 75. Others won’t pay out if your car is stolen by someone who deceives you into handing over your keys. A small number won’t cover damage to your car that’s caused in a road rage incident. It’s common industry practice not to provide gap insurance, so if your car is written off or stolen, you won’t receive the full amount you paid when you bought your car.
Every car insurance policy includes some exclusion. Many of the exclusions would be extremely frustrating if they happened to you, and you then discovered that you’re not covered by your insurance firm. Some of them are downright crazy. Five of the most crazy but common car insurance exclusions are:
1. Nuclear FalloutIf Britain was wiped out by a nuclear bomb and you managed to survive, you wouldn’t receive a pay out from your insurer for the damage caused to your car. This is not only because the insurance firm will probably have been destroyed in the blast; it’s because it’s standard practice for motor insurance policies to exclude damage caused by nuclear fallout.
The same applies if your local nuclear power plant explodes and destroys your car, or if your car is contaminated by radioactive waste: you will not be compensated for the damage caused.
Currently this exclusion applies to policies bought from almost all the major motor insurance firms, including Admiral, Direct Line, Aviva, Churchill, Saga, Prudential, Sheila’s Wheels, and Co-operative Insurance to name a few.
2. UFOsMost car insurance firms will not pay out if your car is damaged by pressure waves from aircraft travelling at or beyond the speed of sound. This includes damage caused by sonic and supersonic UFOs from outer space.
If you are zapped by an alien laser-beam while driving on the motorway, your insurance firm is unlikely to cover your injuries or the damage to your car. This is because such aggression would be considered an act of war. Car insurance firms usually exclude cover for damage caused by war, civil war, acts of a foreign enemy, or revolution.
Currently this exclusion applies to policies bought from almost all major car insurance firms, including Direct Line, Aviva, Admiral, Churchill, Saga, Prudential, Sheila’s Wheels, and LV=.
3. Car Stolen by Jealous Husband or WifeMotor insurers will not provide cover if your car is taken without your permission by any member of your household or family. This includes your spouse or partner, your children, your parents or a lodger in your home. The only exception to this rule is if you report your car as stolen to the police, and prosecute the person who took your car in court.
Currently this exclusion applies to policies bought from almost all major motor insurance firms, including Direct Line, Admiral, Co-operative Insurance, Sheila’s Wheels, and LV=.
4. EarthquakesFortunately for us Brits, the UK is not prone to earthquakes or tremors. However, were the worst to happen and the ground opened up and swallowed your car, or even if a less violent earthquake shattered your windscreen, it’s probable that your insurer would refuse to pay out.
A small but significant number of car insurance firms do not cover for damage caused by earthquakes. Admiral is the most notable insurer with this exception. Other insurers who refuse cover for earthquakes include Saga, Prudential, and Sheila’s Wheels.
As well as looking out for earthquakes, remember to check your insurance policy documents for the phrase “acts of God”. Sheila’s Wheels breakdown service, for example, cannot be held liable if they leave you stranded by the roadside because of an “act of God”.
5. Blind Drivers Unsurprisingly, there is not a single insurance firm who will provide cover for drivers who can’t see. This is never stated explicitly in insurance policy documents, but insurance companies cover their backs by saying they won’t pay out for claims resulting from damage caused by “unlicensed drivers”.
Being unable to get insurance or a licence wasn’t enough to stop one blind person from getting behind the steering wheel. In 2006, A 31-year-old driver was banned from driving for three years and given a suspended jail sentence after police caught him driving on the wrong side of the road.
This exclusion seems to apply to policies bought from almost all motor insurance firms.
How do you make sure you’ve got the best possible insurance cover for your car? Firstly, don’t just choose a policy based on price. Research what’s covered and what’s excluded by each company you’re considering. Secondly, if the level of cover