If you are among the many people who love muscle cars, then finding cheap car insurance should not be one of your problems.
A muscle car is a type of mid-size or full-size automobile that has high performance engine and drive train. Muscle cars may have either an intermediate wheelbase or a full wheelbase which is directly related to the size of the engine used. Muscle cars have been at the height of American automobile manufacturing from 1958 to 1971 until oil prices drastically increased.
1) Shop around for Insurance Companies
Before buying a muscle car, you will need to get insurance coverage for it. The key point here is that you should shop around before committing yourself to one insurance company. You can ask friends or family members about their insurance companies or better yet, check the Internet for those who are offering affordable car insurance premiums for muscle cars.
2) Buy a Covered Car
One of the most common mistakes that people with muscle cars do is to buy a used one and not have it insured under their name. There are some insurance companies that require you to have additional coverage if you own a high-performance car. This is one of the reasons why getting an already owned muscle car will be more expensive compared to buying a new or used car that has average performance engine.
3) Have an Accident Free Driving Record
If your driving record is clean, then you will get a considerable lower car insurance premium. Most insurance companies offer discounts to their customers with good driving records. It would be wise for you to maintain and keep track of your accident free driving record for the past five years.
4) Improve your credit score
One of the things that insurance companies do is to check on your credit report. If your credit score is below 600, then you should work on improving it. By having an excellent credit score, you will be able to get a discount in your insurance premium rates.
5) Get Additional Coverages
Some insurance companies offer additional coverages like comprehensive and collision for reduced premiums while others don’t. You need to check with your insurance carrier if they offer comprehensive and collision as well as the amount of deductible that you need to pay before filing a claim. You can also reduce your car insurance premium by raising your deductible up to $1,000 because it is better compared to paying high premiums.
6) Install Anti-Theft Devices
If you own a muscle car, it would be hard for you to find cheap car insurance if you don’t have security devices installed in your vehicle. Anti-theft devices are one of the most basic considerations that insurance companies look into when determining your premiums.
7) Buy a Car with Low Insurance Rating
There are some cars that are more expensive compared to others because of the insurance premiums that you need to pay. There are some vehicle models like Porsche and Ferrari for example which have high car insurance rates compared to others. If your budget is very limited, then it would be better to buy a car with low sales value because of its no-name brand or make.
8) Shop Around every Three Years
It is wise for you to shop around every three years because insurance companies have a tendency of increasing their premiums after three years. If there are no significant changes in your life that may affect your premiums, then it is time for you to change your insurance company.
9) Ask about Discounts
To get the most out of your money, then you need to negotiate with your current insurance company and ask for discounts. Discounts may vary from those who have been with the company for a long time, those who have a direct deposit or automatic bank withdrawal for their monthly premiums, additional drivers on your policy and others.
10) Get Additional Coverages
The last tip is that you should not just buy one insurance coverage and keep it at that. If you buy additional coverages like comprehensive and collision, then you will be able to get a considerable discount from your car insurance premium.
What is the best car insurance carrier for a muscle car?
Each company will have their pros and cons depending on your driving record, age, cost of the vehicle, etc. Most companies will offer discounts for having hyper security devices installed in your vehicle like an alarm system or tracking device. Having good credit will also give you lower premium rates and most companies offer discounts to military personnel and their families. Paying your monthly premium via automatic bank withdrawal will also get you a lower premium rate because it is easier for your insurance carrier to process compared with credit cards or check payments.
What is considered a vintage car?
A collection of classic automobiles, trucks, motorcycles, bus, etc. built before the 1940’s are called as vintage vehicles because they are highly valued by collectors and enthusiasts due to their historical or sentimental significance. Vintage vehicles do not have designated model years unlike regular cars so it can be difficult to determine how old it actually is. Vintage cars and/or trucks are also not covered by regular car insurance policies because of their unique value and they need to be insured separately depending on the condition and type of vehicle.
What is the cheapest car insurance for a classic car?
The cost of your premium will depend on what coverage you are looking for, where you live, the age of your vehicle, etc. Generally speaking though, classic or antique cars tend to have higher premiums compared to other vehicles because they are not as reliable compared to standard-issue cars.
What is considered a classic or antique car?
An automobile, truck, motorcycle, bus, etc. which has been manufactured and reached 25 years of age and it is kept and preserved by its collector.
What is considered a muscle car?
A muscle car is technically defined as any of the following vehicles that are not standard-issue cars or automobiles sold for everyday routine transportation. Muscle cars are high performance, often equipped with large engines, and they have sharp designs to make them look very attractive. Listed below are some of the most popular examples of muscle cars that are being sold today.
Chevrolet Corvair (will reach 60 mph faster than similar vehicles)
How old do I need to be in order to buy car insurance?
Most auto insurance companies require you to be at least eighteen years old in order to buy a policy. You can ask your insurance carrier if you can buy an insurance policy with them without being 18 years old and they might answer yes but will require the signature of your legal guardian when purchasing car insurance for teenage drivers.
With This In Mind
I hope you found these tips on how to get affordable muscle car insurance helpful. If not, feel free to share your thoughts in the comments below!