Specialized Car Insurance Tips & Advice

When you are looking into buying car insurance, in most cases you will be just fine picking a random car insurance company from a phone book and using them. However, in some special cases it is a good idea to work with a company that deals with specialized auto insurance. Here are some tips from an auto insurance specialist that may help you with your auto insurance needs.

Insuring a Vintage Vehicle

If you are the owner of a classic or antique car, you will want to go with an auto insurance specialist. Most vintage car clubs in Canada define a classic car as one that is between twenty and forty-five years old. Any car older than forty-five years is an antique car. Some cars may also fall into a class known as the modern classic. Modern classic cars are around fifteen to twenty years old. These cars often fall outside of a regular insurance agent’s range of expertise due to the simple fact that most insurance companies don’t deal with these types of cars on a regular basis.

Using a specialty auto insurance company to insure your classic car is to your benefit. Classic cars do not depreciate the same way regular cars do. Regular cars become worth less and less as they get older, while classic cars become worth more and more as they age. By working with a specialty company, you’ll deal with people who understand this crucial difference and can factor that in when calculating your premiums.

Import Auto Insurance

Another type of car that should be handled by specialty auto insurance is an imported car. Regular car insurance companies may run into problems like not knowing where to find replacement parts locally. They may also have difficulty assessing the value of your car. In order to keep your premiums down, you should try to avoid making modifications to the car – it just complicates things usually.

Grey Imports vs. Parallel Imports

There are two kinds of imported cars – grey imports and parallel imports. Grey import cars are manufactured for sale in their respective foreign markets and thus may not conform to domestic regulations. One practical example of this is British cars that are manufactured for the British market – if someone imports this car to Canada, the driver’s seat will be on the wrong side of the car. The differences between imported grey cars and domestic cars aren’t always bad – for example, Japanese cars usually have higher specifications than cars made for other countries.

Parallel imports are cars manufactured and designed for foreign countries, but they differ from grey cars because there are local domestic distributors for the cars and parts. For example, there may be Japanese car that is manufactured for Japan, but you can buy this car and service it in Canada as well.