Classic car auctions have always been a perennial favorite amongst car lovers, both young and old. So much so, that some of them willingly fork over huge sums of money just to get their hands on a rare classic car!
Now this article will shed some light for those of you who aren’t very familiar with these types of auctions, so you might want to pay close attention!
First up, a classic car auction is a great event to check out all of the different types and models of rare cars belonging to different eras. But since the classic car market is a fairly tight niche, cars are often sold at high prices, compared to other car auctions. And because of this, most classic cars are often not sold at all.
Don’t let this deter you from bidding on ...
Classic Car Insurance By Jeff Foote
You can insure a classic, antique, collector, or custom car the same way you insure any other vehicle. However, many classic car owners end up regretting this decision if their vehicle is totaled. Why? Because when your classic car is declared a total loss by a standard auto insurance policy, you will receive the actual cash value of your vehicle, which in most cases will be quite low and won’t leave a smile on your face.
There are far better auto insurance policy options for classic car owners; however, you often have to meet certain criteria to apply for them.
You must have a minimum number of years of driving experience You cannot use the car for business purposes You must prove that you have another car that you use regularlyYou cannot drive the vehi...