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Alberta Collector Car Insurance

Collector car insurance is the type of auto insurance that involves the protection of the car owner's finances against the damage or loss of his collector car. Collector cars refer to the types of automobiles that are purchased not primarily for driving but for collecting. Because they were purchased to be collected and not to be driven, collector cars are often found inside custom garages or museums rather than on streets or roads. The people who collect cars are called car collectors or car enthusiasts. Examples of collector car include vintage cars, limited edition models, and custom-made automobiles.

Compared to the other types of auto insurance products, collector car insurance is more expensive. The reason why collector car insurance products cost more than ordinary car insurance products is that collector cars involve higher monetary values. Because they are considered rare and collectible, collector cars are a lot more expensive than ordinary cars despite their condition or their age.

The main purpose of collector car insurance is to protect the finances of car enthusiasts against the possibility of damaging or losing their most treasured collector cars. Collector cars may be damaged because of calamities such as storms, earthquakes, and landslides or accidents such as explosions, fires, or collisions. Car enthusiasts may also lose their collector car because of theft.

The basic coverage of collector car insurance, which is the same as the other auto insurances, is a property insurance and a liability insurance. The property insurance coverage of collector car insurance will cover the reparation cost of damaged or vandalized collector cars. Liability insurance refers to the coverage that will help the policyholder settle his legal obligations to other people who were hurt during a vehicular accident in which he was at fault. The liability insurance coverage of the collector car insurance will cover the cost of medical treatment for third parties who were injured during the said vehicular accident.

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