15: Insurance
With a classic car, you know that the insurance is going to be expensive. The age of a car and the rarity are going to affect how much you spend on insurance. Likewise, most times a classic car will need to be insured by a specialty insurance policy. You have to remember that the replacement parts for these vehicles are hard to come by. An insurance company isn’t going to value your ’69 Camaro at $100,000 just because the market is shifting that way.
Instead, you’ll have to seek out a policy that will cover special upgrades. You want to make sure that every aspect of that car is going to be covered. Because without the proper insurance you could suffer a total loss in the case of a theft or accident. The more expensive insurance is something that people often overlook when it comes to a classic car.