If you’ve got a classic car and you want to buy insurance for it, you shouldn’t settle for traditional insurance coverage. Your rare vehicle has slightly different needs and functions that many other cars available today and regular auto insurance might not be able to answer for those needs. Buying classic auto insurance in New Jersey can be pretty easy, especially if you’re a first timer. But with these need-to-know pointers, you’ll be calling the shots all the way.
Qualifying for Classic Auto Insurance in New Jersey
First things first – is your car actually a collectible or is it just a nice old car? An insurance agency such as newjersey-insurance.net won’t grant you classic auto insurance in New Jersey if the model of your vehicle doesn’t fit the bill. A good rule of thumb to follow when qualifying a car as a classic car is that it should have been built in 1979 or sooner. The insurance provider you choose however, might have a different set of standards when it comes to identifying classic cars. Others might say that a vehicle that’s no less than 15 years old is a rare collectible, while others might stretch that number all the way to 25.
Did you know that your car isn’t the only thing that needs to qualify? As a car owner, there are also some aspects that an insurance provider might require you to have before they can grant classic auto insurance in New Jersey. Some of the qualifications include age (at least 25 years of age), driving experience (at least 10 years), and a good driving record.
Calculating Your Premium
The rarer your car, the more likely you are to pay a more expensive premium. Now, why is that? A rare car is bound to have parts that are harder to find in the market today. That means you will have to exercise greater efforts just to find them if in case your car needs repairs. Think of it like this – it would only take a few hundred dollars to repair a common car that’s sold on the market in modern days as compared to repairing and finding the parts for a car that was released 25 years ago. That extra effort would cost a whole lot more, and that’s why premiums generally have to be more expensive than usual. Discuss this with your insurance provider and find out what it would take to get the best deal for your classic car. As a general rule – the older and rarer your vehicle, the higher the premium.