Owners of collectible cars have a great deal of pride in their vehicles, however a collectible car is more than a showpiece, it is an investment as well. To protect that investment, collector car insurance is a much needed necessity. Especially since a collectible car is expensive to repair or replace. A collector car insurance policy can protect you financially in case of damage, an accident or theft.

A regular insurance policy will not offer the specialized benefits of collector car insurance. Insurance companies have several requirements before they will underwrite a policy to cover your collectible. The three main stipulations are mileage limits, vehicle age, and driver qualifications. There also is an insistence by the insurance provider that the car is garage kept and well secured when not in use.

In most cases, the insurer will not permit more than 5,000 miles per year, although some companies may offer an excess mileage addendum. The mileage driven is limited to car, hobby, and show activities for the most part; collector car insurance policies do not permit driving the insured vehicle for commuting or commercial activities.

Collector car insurance policies also have a requirement on the age of the vehicle. The majority of companies require the car to be at least 15 years old. A few insurers define a collectible car as being more than 25 years old and in rare circumstances as much as 35 years.

Driver qualifications are a consideration as well, an owner or driver must meet minimum requirements to be eligible for collector car insurance. Minimum age of a qualified driver is mostly 25 while the minimum driving experience is 9 years.

Once you meet the stipulations for your collector car insurance, you and the insurers agent will negotiate the car’s agreed upon value. Unlike a regular car which has its value set by automobile industry standard practices such as a blue book value or fair market value, you are permitted to determine the value of the car at the time of the writing of the policy. The amount you and the classic car insurer agree upon will be the replacement value of the car should it be a total loss.

You can protect your vehicular masterpiece with collector car insurance from many different insurance providers. Although many insurance companies can write your collector car insurance, it is best to find a company that specializes in this type of coverage

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