Classic Car Insurance in Five Easy Steps

1. Review the valuation clause. There are three different ways to determine the value used on classic car insurance: the stated value, the agreed value and the actual cash value. Discuss the differences with your insurance agent to determine which valuation best suits your car.

2. Determine the terms of usage. If your insurance company will only cover your classic car on the way to and from car shows, a fun ride to get ice cream may not be covered.

3. Review the garaging requirements. Many policies require classic cars to be garaged within a structure. If you park your vehicle in an open driveway, you need to have the garaging clause amended to make sure your car is adequately covered.

4. Calculate the deductible. Depending on the plan you choose, your classic car insurance policy may not have a deductible. If you do have a deductible, talk with your agent to see if it can be removed.

5. Shop around for the best price. If the previous steps have yielded the coverage you want for your classic car, the only thing left to do is to get the coverages for the best price possible.

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