Owning and driving your own classic car can be a great experience, but make sure your collector car is properly insured.  You could risk losing a lot if you have the wrong insurance, especially if your car is valuable.  Also remember that nearly all classic car insurers put restrictions on the miles you are able to drive each year, they may require a 10 year record of driving (no young drivers), and require a garage to store your classic car (but then why wouldn’t you have a garage for your pride anyway?).  You will also be required to own another vehicle as your daily driving vehicls.

 When looking for classic car insurance, you want to make sure you choose an "Agreed Value" policy only.  This will be a value of the car that both you and the insurance agency agrees upon, and WILL NOT change due to depreciation or other factors.  Some classic car owners find other policies to use, and they are leaving themselves a hole they may not be able to dig themselves out of once they need to file an insurance claim.  Actual value policies use bluebook values, so you will lose out big time on this policy.  Stated values allow you to state ANY value to the car, BUT this price does depreciate over time.  Just make sure you stick with an "Agreed Value" policy.

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