Classic Car Insurance India

Classic Car Insurance India

Are you familiar classic car insurance India?  Are you in need of availing yourself of this specialized auto insurance in India?  There are a few things you should know.

Your car may be considered a classic car or a vintage car by your insurance provider.  Although it may seem the same to you, it's not the same to the insurance company. 

If you're the proud owner of a vintage or classic automobile in India, you're probably aware of or even a member of the Vintage and Classic Car Club of India (VCCCI). 

The VCCCI has helped to clarify terminology when it comes to classifying what type of vehicle you have for insurance purposes. 

The general consensus is that vintage cars are those built between 1919 and 1930. 

Classic cars are those built between 1940 and 1970.

Knowing the right category in which your vehicle falls will help ensure that you get the right kind and right amount of insurance coverage that you need.

Remember when obtaining classic car insurance quotes, India insurance companies have different classifications, so be sure you understand what they are offering you so that you are clear about your insurance agreement.

There are three different ways your insurance coverage can be calculated:

  • Actual Cash Value - the cost of having the damages repaired
  • Stated Value - the owner assesses the value of their own vehicle
  • Agreed Value - the owner and the insurance company agree on the value of the vehicle

Be sure you understand which of the above three policy types you are getting because your premiums and your potential claims will be affected by these facts.

Further information that will affect the value of your classic car insurance India is how your car is used.  Is it stored all the time and rarely brought out on the road?  Do you take it to car rallies and various vintage auto events?  In what condition is your classic auto in India? 

When you begin looking for a classic car insurance India quote, these are the questions you'll need to answer.  Here are some more...

  1. How old is your vintage car?  What year was it manufactured?

  2. What condition is the classic automobile currently in?  Fully restored or still needing a lot of work?

  3. If the classic auto is damaged through accident or some other event, what kind of costs can be estimated for the repairs?

  4. Are parts going to be difficult to come by?

  5. How many miles are on this classic car and how many will you be putting on it per year?

As you can imagine, the answers to these questions will help the insurance company provide you with accurate car insurance quotes in India for any antique vehicle. 

Of course, the answers will also affect your insurance premiums, but don't make the mistake of trying to conceal the facts in order to get a better price.  It won't do you any good in the long run because if you do have to make a claim, the company can refuse to pay if you've misrepresented your situation.

If you're lucky enough to have a classic or vintage car in India, enjoy it fully and take good care of your investment.

Safe driving!

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