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5 factors to consider when Buying Collector Car Insurance

Classic Car Insurance

Owning a 1966 Shelby GT 350 Fastback or the iconic sports Porsche 911 will definitely add significant value to your collection. But you need to secure your precious investment and protect your classic car from wear and tear, theft and other natural calamities. Recent studies have proved that more than half of classic car owners prefer to buy standard insurance coverage. However, most standard insurances do not provide the best insurance coverage for collector cars and often undervalue the total worth of your classic car. Hence, buying classic car insurance that is tailored specifically to your car is an addition most collectors don’t want to do without.

It is necessary to purchase the right kind of vintage car insurance as classic car restoration, repair and maintenance can be a costly affair. Here are five pointers for you to consider while shopping for the best collector car insurance:

  • Insurance coverage is provided based on the value of the classic car. The value of the classic car is established in three ways: Actual Value of the car (which is the depreciated worth of your car, determined by the make, model and year), Stated Value (the maximum value agreed upon by you and your insurance provider), and Agreed Value (this value is determined after an appraisal of the car has been performed by a licensed appraiser). It is incredibly important that your car is valued properly, so you can get the best insurance coverage and make sure you are properly covered in the event of an accident.

  • Make sure your insurance company allows you to pay high deductible upfront. This will help you lower your monthly, quarterly, and yearly premium amounts.

  • If you drive your classic car often, you need to be careful about the mileage covered, as most insurance companies have mileage restrictions. You will very likely lose any claim made if you do not abide by the mileage clause. Choose an insurance policy that gives the best mileage option (that is, if you want to drive your classic car often).

  • Most insurance companies have age restrictions for classic car drivers. The driver should have reached the age of 26 and should have a good, clean driving record.

  • Most classic car insurers require classic cars to be parked in an extremely safe and secure garage (or other secure facility) so that the chances of damage or destruction due to natural or other causes are minimized.

Once you get your classic car insured with a policy tailored to your requirements, make sure to review your insurance coverage from time to time so as to make necessary adjustments (for repairs, restorations, additions, etc), as you need to cover the increased value of the work done.

Classic Auto Insurance provides a range of classic car insurance plans. Our standard classic car insurance plans include agreed value and roadside assistance as well as next term mileage rollover. For more info and a free collector car insurance quote, contact us at 888-901-1338.


About the Author

is Vice President of Classic Automobile Insurance Agency, Inc. Classic Automobile Insurance Agency has been protecting collector, classic and exotics since 1992.

Posted: 3/27/2013 9:00:00 AM with 0 comments

Pt. 2: Owning, Racing & Winning

This is part 2 of a 3 part series by one of our great clients who was willing to share this fantastic story with us! Stay tuned for part 3 next Monday: The Restoration Phase - The Cobra in the Garage. If you missed part 1, click here!

1964 Shelby Cobra

In the early years of our ownership, my wife Loreta and I used the Cobra as our main driving car. We thoroughly enjoyed the car during those early years. We attended various races in the region, including the SCCA sponsored events at Raceway Park, for which I was acting as a Flag and Communications Corner Captain. We also participated in their Driver’s School and National events, plus their support of USAC Stock Cars and Indy Cars on the Road Course. This eventually led me to an Indy 500 Pit Tech job with USAC first, and then with IRL for a total of 26 years.

We also used the car on several out of town excursions including our delayed honeymoon, and to major auto races like the Mid Ohio USRRC and the Formula 1 Race at Watkins Glen. In June of 1965, Loreta and I headed out west towards LA, but we didn’t make it past New Mexico. During a terrible hail storm, I pulled over to the side of the road and turned on my blinker, when we suddenly felt a hard jolt. I was shocked to turn around and see a gigantic 1950s vintage Oldsmobile shoved up against our back bumper. We took the car to a Chevrolet Dealership in Albuquerque, where all the necessary repairs were made. During the later restoration, we learned that many of the repairs made at that point were insufficient and done below original manufacturing standards.

After the restoration of the car was completed in May 2008, it was then time to finally get behind the wheel and relive some of these old times (more to come on the restoration in the next part of the series!). We have entered a few car shows, including the 2010 Indy 500 World of Wheels (Domestic Sports Outstanding in Class), the 2010 Carmel Artomobilia, the 2011 Cars for the Cure (Best in Class Domestic Sports), by invitation the 2011 and 2012 Eyes On Design Show, held at the Edsel Ford Estate, the 2011 Carmel Artomobilia (Best in Class Shelby), and by invitation, the 2011 Muscle Cars and Corvette National Shelby Snakepit Showcase Display. Loreta and I absolutely love the excitement of these shows, not only for the competition, but also for meeting like-minded Cobra lovers and for the opportunity to tell the story behind my classic collector car.

Our Shelby Cobra

About Classic Auto

is Vice President of Classic Automobile Insurance Agency, Inc. Classic Automobile Insurance Agency has been protecting collector, classic and exotics since 1992.

Posted: 3/25/2013 8:51:27 AM with 0 comments

Featured Car from Elite Autos: Mercedes CLK GTR Roadster

Mercedes Roadster Coupe

Update! This car was recently featured on!

Want to be the proud owner of a truly one-of-a-kind vehicle? Elite Auto’s currently has a Mercedes CLK GTR Roadster in their showroom; the car is one of only six ever made, and it is the only one of its kind in the United States!

The Mercedes CLK GTR Coupe was originally designed to meet the racing standards of the 1997 FIA GT Championship. The requirements were that the car be street legal, and have at least 25 production models on the road. When the Coupe ran away with the championship, and subsequently became the only entry into the race the following year, Mercedes decided to take that success and produce the Roadster version of this car, only putting 6 into production overall.

Like any true racing car, the CLK GTR Roadster has its engine located in the middle of the chassis and is powered with RWD to provide better balance and handling. The engine in the Roadster is a one-of-a-kind 60 degree V12. The body of the car is built from a Carbon Fibre Monocoque steel frame with an integrated roll cage, and the rack & pinion power-assist steering leads to even greater handling behind the wheel of this classic beauty.

This legendary icon of a car is truly a once in a lifetime sight, and if you are in the position to make such an amazing purchase, it will be an investment that you will not regret. Well maintained, the value of this car is set to steadily increase and bring a huge return for it’s owner.

If you would like more information on this extremely rare find, please visit our friends over at Elite Autos for all the specifications on the CLK GTR Roadster. For more information on how Classic Auto can assist you with all of your collector car insurance needs, fill out our FREE quote form online!


About the Author

is Vice President of Classic Automobile Insurance Agency, Inc. Classic Automobile Insurance Agency has been protecting collector, classic and exotics since 1992.

Posted: 3/20/2013 9:00:00 AM with 0 comments

Pt. 1: How I Fell In Love...With A Shelby Cobra

The following story was sent to us by one of our customers. It is a fascinating, three-part series that we will share will you over the next three weeks. Please enjoy and stay tuned for more!

My first encounter with a true sports car was in 1961. My roommate, Bill, had a relative visiting who brought along his Austin Healey Sprite, and was gracious enough to let me drive it! I couldn’t believe how fantastic the handling was on that car, and I also loved that it was designed for driving, not necessarily for comfort. I truly believed that cars should be built for efficiency and design, and if creature comforts could be incorporated, great. If not, the car shouldn’t be judged on that basis. I could only hope that one day I too would own such a car.

One day, in March of 1964, I was on my way home from work and I travelled by Jerry Alderman’s Ford dealership, noticing the familiar silhouette of a Shelby Cobra in their showroom. I quickly wheeled my 1959 Twin Cam MGA into the parking lot and began to imagine myself behind the wheel of the Cobra. It was quite a beauty, the latest design with a Silver Mist exterior and a gorgeous red leather interior. When the salesman noticed me, he asked me if I’d like to take it for a ride (as if he had to ask?).

Later that afternoon, the salesman allowed me to drive the car home to show my wife what I was determined would be “our new car”. A few days later, I drove out of Alderman’s without my Twin Cam, but behind the wheel of my new Shelby Cobra, CSX2159, the brain child of Carroll Shelby himself. I was in love with the blend of lightweight English body and frame and the dependable Ford V8 power.

Shelby Cobra 1964

Serial number CSX2159 was the 159th of the original 515 Leaf Spring Cobras produced by Shelby American. The basic construction was a Steel Tube Ladder Frame with a Handmade Aluminum Body. The car’s power was by a Ford Hi-Performance 289, coming through a Borg Warner T-10M Transmission and Salisbury 4HU Power-lok Rear End. The car had rack and pinion steering and 4 wheel discs to provide braking for the 15 inch by 5 ½ inch, 72 spoke silver painted rims and thin whitewall Goodyear Wingfoot tires. The CSX2159 was the first production car with factory installed side louvers, and the first to be painted in Silver Mist with the red interior.

Interested in the rest of the story? Stay tuned for Part 2 of this story, discussing how we have since fully restored this beautiful muscle car and showed it all over the country!

About Classic Auto

is Vice President of Classic Automobile Insurance Agency, Inc. Classic Automobile Insurance Agency has been protecting collector, classic and exotics since 1992.

Posted: 3/18/2013 9:00:00 AM with 0 comments

Muscle Cars (Forever®) - A New Series from the USPS

Muscle Cars Forever stamps

A lovely addition has been made recently to our postal service, and that addition comes in the form of  a new set of commemorative stamps.

Just a couple of weeks ago, on Feb. 22nd, 2013, seven-time NASCAR National Champion Richard Petty, along with his son Kyle, and the Postmaster General Patrick Donahoe, dedicated the limited-edition stamp set that includes several classic car models from the 60’s and 70’s.

The dedication of the stamps took place at the Daytona International Speedway, a site Richard Petty is all too familiar with, as he won a record seven Daytona 500 Championship races.

The cars featured on the limited edition Muscle Cars (Forever®) stamps are the ‘66 Pontiac GTO, the ‘67 Shelby GT-500, the ‘69 Dodge Charger Daytona, the ‘70 Plymouth Hemi ‘Cuda and the ‘70 Chevelle SS - all definitely cars on our favorites list here at Classic Auto.

You can read much more about these stamps, the history of these cars, and the reason these specific cars were chosen to be part of this stamp series in this USPS article.

If you are the proud owner of one of these classic beauties featured on the new American Muscle Car stamp collection, don’t forget that protecting that car is just as important today as it was when it was brand new. Give us a call today for more information on how we can help you protect the investment you’ve made, and also protect the piece of classic American history that you are lucky enough to own! You can also fill a FREE muscle car insurance form online to get an instant quote for your car.

About the Author

is Vice President of Classic Automobile Insurance Agency, Inc. Classic Automobile Insurance Agency has been protecting collector, classic and exotics since 1992.

Posted: 3/13/2013 9:00:00 AM with 0 comments

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