Make sure to insure that classic cars

Insuring your classic car is definitely a good idea and, fortunately for the hobby, there is special collector car insurance that is much cheaper than the normal insurance on your everyday car.

The rates are cheaper simply because the insurance company recognizes that most of these cars are not going to be driven much and even when they are it will not be in adverse conditions. Insurance companies also recognize the pampering that most of these cars receive and that the drivers are extremely careful when driving them. Most policies require that you sign a waiver that you are not driving the car everyday and that it is being driven only to shows or cruise-ins.

Most insurance companies offer what is termed "agreed upon value." This simply means that you and the insurance company agree to what value the car will be insured for and that if it's stolen you will receive that amount. Some insurance companies limit the valued amount and will not go over that value for certain makes of cars - this prevents one from insuring a $20,000 car for $60,000.

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