Restoration of and ownership of collector cars is quite a large hobby in North America. As with any other motor vehicle, collector cars need at least minimum car insurance, which in Canada is a mandatory liability insurance of $200,000 (or $50,000 in Quebec). There are many insurance options for the collector car owner, some of which are unique to this type of vehicle. As with any other cars, collector cars can be covered by minimum liability or some form of comprehensive coverage.
Insurance options that are unique to collector cars include forms of coverage with maximum allowed mileage, maximum allowed usage days per month and requirements to stay with the car at all times while in public. These options are often best for collector car owners because comprehensive coverage is often hard to obtain for a collector car because of its value.
I think that the car insurance options available to collector car owners meet most of the common owner needs. At the same time it does not seem right that it is so difficult for owners to receive the comprehensive coverage they want. The collector car specific coverage does not allow for a collector car to be an owner’s true primary vehicle. For the collector car owner who wishes to see his or her vintage car out on the open highways of North America there does not seem to be a viable insurance option. There should be an affordable comprehensive insurance option for collector car owners who want to actually drive their cars.
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