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Dangers of Getting a Classic Car Insurance Online Quote
You’ve just finished that restoration project on your 1949 Cadillac and now you need to find a quick classic car insurance online quote. Going through all of the receipts for everything you’ve bought, you might realize everything you’ve done to your classic car, when totaled up, is very expensive. Insurance for your beauty is also going to be expensive. There are a number of dangers involved in getting quotes for classic car insurance online. This article is going to touch on a number of these dangers.
Classic Blue Book Value Versus True Value
Most cars are valuated for insurance purposes using the Kelley Blue Book or similar car pricing systems. The problem with this is these systems don’t take into account the fact you’ve just taken 2 years and who knows how many thousands of dollars restoring your Cadillac to better than factory showroom quality. You’ve made a show car. Not a car you’re going to take to work day in, day out, rain or shine. In fact, chances are very good you may not even drive it to big shows that aren’t held near to where you live, because of how much you’ve spent during the restoration process. If you search for and obtain a classic car insurance quote online, the chances are very good you’re going to receive a very unreliable insurance quote that doesn’t take in account the time and money you spent restoring the car. The quote won’t figure the car was stripped down to the frame, and every bolt and metal piece was replaced. Or that you spent 6 months and untold hours searching for a single part. The only way you’re going to be able to have all of this taken into consideration is by the following:
- Obtain your insurance quote from someone that specializes in classic and show car insurance.
- Take the car in so it can be appraised by the insurance agent or assessor.
- Have the car professionally appraised and bring the certified appraisal in when obtaining your quote.
- Bring receipts documenting everything you’ve spent on restoring the car.
Industry Bias
Typically speaking, the older the car, the more expensive the overall insurance coverage is going to be. This is because as far as the industry is concerned, older cars are much more likely to be involved in an accident than newer cars. This is statistically true. But it doesn’t take into account cars that have been lovingly and painstakingly restored from the ground up. It also doesn’t take into account the fact most of the driving you’ll be doing with your classic Cadillac (or DeSoto, Cord, Packard, etc) will be in parades and/or off a moving truck and into the show venues. They only take into account numerical trends overall, not individual cases.
This article has listed a few reasons why a classic car insurance quote online is most likely going to be a highly unreliable insurance quote.
