You would expect to pay more when purchasing motor vehicle insurance for special cars, but would you be surprised to learn that the premiums you pay can offer wildly from state to state? A nationwide insurance survey performed by research company Canstar found that to be the case, with more than 24,000 insurance quotes and 60 different products included within the study. What’s even more surprising is that the differences go way beyond just the premiums paid by young drivers in large metropolitan cities.
Drivers in NSW are the ones who are paying more than anyone else, with the average cost of insuring a family car coming in at $2,344. That is a good deal more than the $1,548 being paid on average by families in Queensland. The drivers shelling out the most in NSW are drivers under the age of 25, with Queensland once again being the cheapest place to buy insurance for drivers in that age category. It should be noted that the prices quoted in the survey are averages only, and it is possible to pay a good deal less if you are willing to shop around.
While the survey did not specifically mention special cars, the same rules very much apply when looking for insurance for your classic or custom ride. Not every insurance provider is going to offer premium rates that you are comfortable with, and you should certainly not settle for the first quote you are given. Shopping around will help you find a much better deal, and you will also discover that there are some companies who go out of their way to specialize in motor vehicle insurance for special cars.
There are a number of factors that come into play when insuring these types of cars, and some of that does have to do with where you live. For example, if you live in an area that is outside the city, and your car is permanently stored in a garage when not in use, you will probably save some money there. The insurance company may require that you only drive the vehicle in certain conditions, and that you limit the amount of mileage put on the car in any given year. These are both things that any savvy special car owner would likely be doing anyway.
It’s always a good idea to ask a lot of questions when you are shopping around for insurance for your special car. Chances are you will have already invested a lot of time and money into the vehicle, so you really need to make sure that you are properly covered when it comes time to actually insure it. Companies who specialize in insuring these types of cars are definitely the best bet, as they will ensure that all the bases are covered, which means getting coverage that you can feel good about.