Discovering cheap automobile insurance for your classic Chevy Camaro can be really arduous and perplexing. As with anything research is the key to finding the optimal product at the optimal attainable price. The most costly is not always the finest just like the least costly is not either. Expend the time to determine what form of insurance coverage you need, then get quotes from many companies.

If you own a rare car (classic or exotic) that is driven only occasionally for pleasure drives, club events, etc. and is drove fewer than a few thousand miles a year, you could qualify for “Collectible Car insurance”.

Insuring your classic Camaro with a standard insurance contract could create problems if you should ever file an insurance claim. Claims adjusters from most insurance companies are not equipped to understand the special needs of the rare car and its owners – needs specifically using the repair shop of your choice or using original parts.
Standard insurance policies also ordinarily do not guarantee a particular amount for your car at the instant of a claim. Your classic car insurance should be chosen as carefully as the parts you use on your car.

Specialty car insurance agencies are out there to provide for the needs of the rare or classic car individual. Premiums at agencies that specialize in rare vehicles are ordinarily much smaller than the cost of a traditional insurance contract. Guidelines may include restrictions on miles and usage, garaging for the car, a acceptable driving record, an available primary car and restrictions on adolescentteen drivers. Coverage can also be acquired that can reinburse for special towing and parts.

Insurance policies come in three important forms: Actual Cash Value, Stated Value and Agreed Value. It is essential to understand each of these before you decide on a policy.

An Agreed Value policy is recommended because the value of your car will usually be greater than the “blue book” value and will probably change over time – under an Agreed Value policy, if your car is dilapidated beyond repair, you can get the amount listed, in writing, on your contract. Most “regular” insurance companies do not furnish this type of contract.

Actual Cash Value Policy – This is the type of insurance that you probably possess on your daily driver. With this type of insurance, a claims adjustor determins what your car is worth at the moment of the accident and that is the amount that you can acquire. In most cases, the claims adjustor has the ultimate word unless you prefer to take some sort of legal process – which is oft regulated by your contract.

Stated Value Policy – This is oft utilized on “collector car” policies and is typically represented as being comparable to an Agreed Value Policy but WATCH OUT! It is not comparable! With Stated Value, the insurance company pays the lesser of: the stated value; the amount to fix the vehicle not exceeding the stated value; or the actual cash value of the vehicle (more oft than not this is substantially lower than it would cost to replace your classic car). Premium expense is determined based upon the stated value. A settlement amount that is the same as the amount of the car is not guaranteed – remember, this type of contract pays the LOWER of the listed amounts.

Agreed Value Policy – This is the only contract that guarantees in writing the exact value you can receive if your “Collector Car” is stolen or totaled while the contract is in force. An Agreed Value policy states that you will be paid the lesser of: the agreed value; or the cost to repair the automobile not exceeding the agreed value. The agreed value should be carefully reviewed and should be agreed upon by you and your agent before the contract is issued. The total should embody the market value of your classic car at the time of the contract. If the amount changes during the contract period, the agreed value can usually be changed, it should also be reviewed and changed as needed with every contract renewal.



Tips on Selecting a classic Car insurance Contract:
Many insurers can let you to insure special items that you have added to your automobile.

Most only allow you to drive approximately 2,500 miles a year, but it is to acquire allowed mileage up to 5,000 miles a year. Many have restrictions that exclusively allow you to drive the automobile to special events. Numerous deductibles are also obtainable.

Be sure to read the policy carefully. Ask about warranties and restrictions before you dispense. Find a contract that suits your needs.

Most claims on your contract will require you to bring your car to a body shop for repairs. Find out if your insurance company will allow you to get your car fixed at a body shop of your choice and if they can accept the use of more costly original equipment parts if they are acquirable.

Numerous collector car insurance companies require you to have at least one additional car in your name for daily use.

Make sure the coverage limits for both liability and uninsured/underinsured motorists coverage’s provided by the vehicle contract covering your everyday car matchcorrespond the amount limits provided by your “Collector Car” contract.

Many insurance agents will tell| you not to get another collector car contract because their vehicle contract won’t allow it. This is dishonest and basically not accurate. There are two provisions these policies may demand of a collector car contract: the limits of liability coverage provided by the “Collector Car” contract must be equal or higher than those provided by the daily vehicle contract; and the insurance company issuing the contract has to be “A” rated.