The Need For Specialty Car Insurance
By Sam Davidson
If you own a classic car, you know you must have insurance, but the insurance needs for your classic are not the same as for your every day car. For your classic car, you will want specialty insurance. Just as your classic is different from your daily car, specialty insurance differs from stand insurance in some very important ways.

Specialty insurance is available for a wide variety of collectible cars, from antique autos to restored muscle cars to custom cars. While traditional insurance is required for every on the road, custom cars aren't required to have to have specialty insurance, even though the may not be fully covered under a standard policy.

Antique insurance covers cars that may have restrictions in regular insurance, but not every that is antique or modified will qualify for specialty insurance. Standard insurance is available for all cars, but cars must meet certain criteria to be covered by specialty insurance. Cars that are over 25 years old used to be considered collectible, but that is not the case now. Just because your is 30 years old doesn't mean that it will qualify for specialty insurance.

To qualify for specialty insurance a must have certain specific characteristics. Some of the characteristics are unique body shapes, muscle cars, German sports cars, convertibles and big block V8 engines. To qualify as a "classic car" by law the vehicle must be at least 25 years old. Your local BMV can aid you determine your car's eligibility.

Other vehicles that may qualify for antique insurance coverage are older trucks, older fire trucks and other commercial vehicles and hot rod cars that have been fitted with hydraulic suspension systems. Collectible motorcycles like the Indian Chief and the older Harley Davidsons can also be insured with a specialty policy.

Having determined that your qualifies for specialty insurance, there are some limitations and differences from regular insurance that you should know about. Regular insurance is designed to protect cars that are daily drivers and are often put in situations where damage can occur. Antique

car insurance often places restrictions on the use of the collectible cars to limit the chance that the will be damaged.

Many specialty insurance policies restrict daily use of the car. Classic insurance policies also usually state that the cars must be kept in a garage at all times. These measures mitigate the risk that an expensive classic will be involved in an accident. These requirements help keep premiums for specialty insurance substantially lower than normal insurance premiums.

Another difference between standard insurance and antique insurance is the types of policies available. In standard insurance, vehicles that have been in an accident will either be repaired or will be totaled and a check will be issued to the owner for the actual cash value. Classic insurance policies can be purchased for "Agreed Value." An agreed value policy ensures owners that they will receive a prior agreed upon amount in the event of an accident. An agreed value policy does not depreciate a car's value in contrast to actual cash value policies and stated value policies.

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The author has written several articles on Antique Insurance Tips and is a known authority who also writes articles on VIN numbers for Decode This! He has several other vehicle related web sites.