Classic car insurance generally isn’t so costly, especially considering some of the costs associated with the hobby, but we’re always looking for ways to provide the greatest value to our clients. A typical classic car policy offers insurance coverage at an agreed upon value for classic, vintage, antique, and collectible cars at a lower premium than most standard auto policies.
Still, we believe that there are always ways to save. And we take our job of finding you your match seriously – both in finding coverage to fit your needs and a price you’ll love. So, what are some of the ways can you save on your classic car insurance?
Want to learn more about classic car insurance? Check out: The Ultimate Guide To Classic Car Insurance
Ways to save on classic car insurance
1. Secure your classic car’s garage.
Your insurance company wants to know that you’re keeping your car as safe and secure as possible. This means protecting your car from potential theft and vandalism as well as other hazards, like weather-related incidents.
Make sure your garage is enclosed, protected, and safeguarded. If possible, keep your classic cars separate from primary ones to minimize the chance of collision or scratches. You should also consider keeping your classic car under a protective tarp to minimize wear and tear (which isn’t covered by insurance).
Keep in mind that your insurance company may want proof of secure storage before they’ll approve a discount on your premium.
2. Enhance the car’s security and safety.
It’s important to keep your car protected when it’s on the road or at an event. If you can prove to your insurance company that you’re taking precautionary steps to protect your car against theft, vandalism, and any sort of destruction, then they may offer you a safety discount. This typically means installing antitheft devices in your car, like:
- Dash cams (internal and external)
- Steering wheel locks
- Security tire clamp
- Wireless anti-theft alarm systems
- Mini GPS tracker (hide in car in case of theft)
3. Cover multiple classic vehicles.
If you have more than one classic or collector car, you can usually get a discount if you insure them both/all with the same carrier. This can save you money and makes your life easier. It’s easier to know the terms of one carrier’s policy, rather than try to keep up with a number of different insurers.
4. Join a driving club.
A lot of car clubs will provide discounted rates to their members. This doesn’t mean you purchase your classic car insurance through the club; it just means that your insurer may offer you a discount if they offer a program for that club. Do a quick search to find classic car clubs near you, and reach out to members to learn more about what they offer (aside from friendship and lots of car talk!) for insurance savings.
5. Prove you’re a great driver.
Some insurance carriers will offer a discount if you are a safe driver. This means having a clean driving record with no accidents or claims in the past few years, as well as completing a defensive driver course.
8. Bundle (when possible).
Almost every insurance carrier offers a discount if you bundle two or more policies through them, such as a standard auto policy with your homeowners insurance. If you can bundle your primary and classic cars with the same carrier, you may get a discount on both premiums.
Although we almost always recommend bundling home, auto, and other insurance, bundling your classic car insurance may not always be your best bet. Classic car insurance is a specialized area, and you want to make sure your carrier knows the ins and outs of insuring a collector’s car. We sometimes recommend bundling your primary car with your homeowners insurance and then purchasing a separate classic car policy through a specialized carrier.
Talk to an InsuraMatch agent to find the right insurance carrier for all of your insurance needs. We’ll help you determine where bundling makes sense for your coverage needs and your wallet, call us today at (844) 824-2888.
Other ways to save on your policy:
3. Reduce your annual miles.
Classic car insurance is typically less expensive than standard auto insurance because you’re driving the car less and taking it out of its garage less, so there’s a reduced risk of something happening to it. Oftentimes, the less you drive, the less you’ll pay in premiums. If you can show your insurance company that you don’t drive your car often (like you have other primary vehicles or you only take it out once a month to an auto show), they may be able to offer you a low-mile discount.
7. Choose an agent/carrier that specializes in classic car insurance.
Classic cars have a lot of specific needs. Unlike most other cars, a collector’s car usually appreciates in value, is driven less frequently, often requires more expensive restorations and repairs, and can be used in shows/events. If your insurance company doesn’t understand or acknowledge the intricacies of being a classic vehicle owner, you could end up with subpar coverage.
One of the benefits of choosing classic car insurance is knowing that you have protection for the unique situations where you are restoring, using, or showing your car; so make sure your insurance carrier understands those needs in depth.
When you work with an InsuraMatch agent, we can compare quotes from experienced and knowledgeable classic car insurers. We want you to have coverage that matches your needs. Give us a call today at: (844) 824-2888
9. Compare quotes.
As with any insurance, shopping around is the best way to ensure you’re getting the best deal on your policy. Different carriers offer different policies, and there are a range of prices. Make sure you’re looking at comparable policies to ensure you’re getting the coverage you need, not just the premium that looks best at first glance.
There can be a lot of fine print when it comes to an insurance policy. An insurance agent can help you understand the policy language so you know what’s covered and what’s not. Learn the benefits of using an independent insurance agency to shop for insurance here. If you’re looking for advice from a licensed insurance agent, give one of our insurance advisors a call at (844) 824-2888.
Start comparing classic car insurance quotes with one of our expert insurance advisors today at (844) 824-2888.
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