Classic car collection is a hobby pursued by many. Classic car collectors and aficionados spend years to find out rare cars and spend significant amount of money to buy them and maintain them.
General car insurance policies are not valid for classic cars because of several reasons such as – it is tough to find market value, maintenance schedules can be unpredictable, the costs of the cars are significantly high, etc. Therefore, insurance companies have come out with specific classic car insurance plans by understanding the preciousness of the vintage car.
Classic car insurance is distinct from general car insurance because it protects expensive cars which are supposed to be driven as a hobby but not as regular mode of transportation. This insurance is also known as collector car insurance because these cars are owned for the purpose of collection. There is a common misconception in car owners that it is cheaper to get car insurance if their cars are driven less. They need to know that less driven cars are far more expansive to insure than cars driven daily.