An antique collector car is what is commonly used to describe that special category of cars which have lived through generations and have survived eons of competition from more modern brands, and still maintain the integrity of having been an automobile of a time best preserved in museums and told in old folk tales of nostalgia. They best capture the meaning of the adage “old is gold” because to find a well maintained machine of that sort would be a magnificent feat indeed.

Insuring these pieces of treasure would therefore require the use of specialty insurance packages that offer clients an antique collector car insurance rate suitable for the protection of the value of the antique car should a pre – specified event occur. There have always been debates as to what kind of car qualifies for the esteemed title that is antique, but the dominant theory is that an antique car has to be at least 30 years old

This fact alone invalidates the use of regular car insurance packages which cover cars with the normal life of between 10 to 15 years. The rarity of the antique car has forced insurers the world over to come up with policies which accommodate the uniqueness of antique cars and so offer an antique collector car insurance rate specific to individual cars. The adopted method for coming up with an agreeable rate will involve the full appraisal of an antique car by a professional valuer in the employ of the insurance company.

Another way of calculating the antique car’s value is to simply use its original cash price at which it was bought. Normally in such  cases documentary proof will be required. The importance of getting the correct value of the antique car will be witnessed when it comes to calculating a suitable antique collector car insurance rate which will determine how the insurance premiums will be paid.

It is important  for you to perform due diligence as far as comparing the insurance policies that offer an antique collector car insurance rate different from each other so that you may get a cover that is relevant for protecting the value of the antique. By and large the antique collector car insurance rate will depend on the kind of cover you decide to take. In this regard, there are several options including cash value, agreed value and stated value insurance.

Cash value insurance is designed to give the value of the antique car at the time of the policy issue. It has a flaw of not being flexible enough to make room for appreciation of car value and so many have been known to avoid this type of insurance. The agreed value policy can be applied to those clients who only use their cars on special occasions and times and so can get out of paying premiums for the full coverage of the car at all times. The stated value provides cover for the stated amount of the car in the full duration of the policy.