Surefire Way To Reduce Your Classic Car Insurance In The Winter

By Author: Elle Perkins
Total Articles: 36
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With a colder and a projected longer winter this year, you may have been thinking about how to reduce the insurance coverage on your classic car. After all, your classic car is not going to be driven above the icy road. So there's no need for you to have it under a standard auto insurance which includes driving and collusion coverage.

So you think of ways to cut on classic car insurance costs not only for this winter season but each time the frost knocks on your door. You definitely have foresight don't you? You're right. For the winter season, it may be more prudent to take your car from its standard coverage. Third party fire and theft insurance may be the only coverage that you need at this time.

What is it and what does it cover? The third party concept is about giving a partial and specific, as opposed to comprehensive, coverage to policyholders. In this case, third-party fire and theft coverage covers you, the classic car owner, against damage to, or loss of your vehicle due to it being stolen or set on fire.

Comparing the two options, third party coverage offers less coverage and costs ...
... less than the comprehensive plans. But since your classic car will also have less exposure to the elements and less use, then a lesser coverage may just be perfect for your needs. But before opting for this cover, you should consider what you will not get from your insurance policy that you would normally get if you were under a comprehensive one. The main difference is damage to your car. Comprehensive cover will repair your car after a collision (or pay you the market value for the car if it is uneconomical to repair), where third party, fire and theft is precisely that - covers you only for fire or theft incidents. For example, where a window is smashed in an attempted theft, but nothing is taken, it is likely to be seen as a windscreen/window claim rather than a theft, and as such will not be covered.

With a third party fire and theft policy, you will be able to make a claim, providing you have reported the theft to the police, if you do have the misfortune of having your classic car stolen or damaged by a thief. By reducing your insurance coverage to this level you may even save the funds needed for the winter storage of your classic vehicle.
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