Classic Truck Insurance – Finding the Lowest Premiums

February 5, 2011

in Cars and Vehicles, Insurance

Fat Lip (Old Chevy Truck)
Creative Commons License photo credit: Lawrence Whittemore
Being on the road with any vehicle carries a certain amount of risk of being in an accident and needing repairs, and this is where insurance comes in. There are many different types of auto insurance available and classic truck insurance is one of the most expensive. If you have a truck that you need to insure there is no need to panic because there are a number of ways that you can insure you pay lower rates.

Why is classic truck insurance so expensive?
In order to find ways to get lower rates you must understand why classic truck insurance is so expensive in the first place. When settling on premiums the companies take into account the value of your truck, the potential cost of damages or repair to your truck, the likelihood that it will get vandalized or stolen, as well as the availability of replacement parts and rentals. Classic trucks have a higher value than most trucks, and this means any costs for repair are going to be expensive. The parts are specialized and hard to come by, further adding to the total costs. They are also more likely to be stolen or vandalized, so this means you fork out even more to insure the possibility.

Choosing your truck
A good way to bring down the cost of classic truck insurance is to choose your truck carefully. Try as far as possible not to go for the really old and rare ones because you will pay an arm and a leg for insurance. Rather get a relatively new classic that has only had one or two owners. This means you will get the benefit of good working order as well as the prestige of a classic truck. Nobody wants to spoil a classic by adding all sorts of devices, so if you don’t want to install an alarm or anti-theft system then at least make sure your truck is parked in a locked area. All of these factors will go a long way to cheaper rates.

Choosing your insurance company
Not all insurance companies are created equal and some are just more affordable than others. It’s going to take some looking around to find a company that can provide you with the coverage you need at a decent price. Remember that it saves to take out only what you need and not all the bells and whistles.

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