Insurance is one of those necessary evils in life. When it comes to insuring your pride and joy the first decision you need to make is whether you will be driving your car back and forth to work.
Collector car insurance typically has much lower rates than your standard insurance but comes with such restrictions as no to and from work use, and restricted amounts of mileage per year(depends on the insurance company). As long as you're willing to follow these rules it's definitely the way to go.
Having appraised value for your vehicle is very
important so that if a claim is ever made you will have proper
Insurance companies have rules on how long they will consider an appraisal valid. This usually depends on the value of the vehicle. In some cases it could be as little as one year, and in other cases it could be up to five years.
Once your receive your policy check to see that the rating is "19a" indicating you're covered for the appraised value of the vehicle. A rating of "19" indicates your coverage is not based on an appraised value.
Insure the appraiser you use is on the insurance companies approved appraisers list before having the appraisal done.
Another thing to keep in mind is that if your car is still in numerous pieces in the garage it's still a good idea to get insurance and most appraisers can provide the insurance company with detailed information on what your car is worth in its present state including all parts.
The collector car insurance companies I am aware of
for people residing in
Alberta are Canada Brokerlink(formerly
Baker insurance) in Calgary, Competition Insurance Incorporated in Edmonton, Legends Collector Vehicle Insurance in Medicine Hat/Calgary , Hagerty
Collector Car Insuance available at Lundgreen and Young
and Palliser Insurance in Calgary.
Competition Insurance Incorporated offers the Silver Wheel Plan for antique car, classic car or special interest automobiles and the Custom Wheel Plan for modified cars, street rods or custom automobiles.
See below for the contact information and the link for them:
100, 4124 - 9th Street SE
Calgary, AB T2G 3C4
Telephone: (403) 245 -1000
Competition Insurance Incorporated
18035 - 107 Avenue
Edmonton, Alberta T5S 1K3
Phone: (780) 451-7940
Fax: (780) 444-3202
Toll Free: 1-800-454-5592
Legends Collector Vehicle Insurance
#100 Chinook Place
623 - 4th Street SE
Medicine Hat, AB
Telephone: (403) 526-3283
#231, 11979 - 40 St. SE
Calgary, AB, T2Z 4M3
12B, 1235 – 64 Ave SE
Contact: John White
(He offers a vintage insurance program as well as general car insurance. $2 million Liability
$300 deductable (coll/comp).Unlimited mileage per year, no vacation coverage required for long trips.
Agreed to value/appraisal required.)