![]() ![]() ![]() The vehicle does not have to be a certain age or have a minimum value. Hagerty will insure the vehicle for a value agreed on up front. So even though the price of a 1991 Honda Beat convertible may be something of a moving target in the United States, if the owner wants to insure it for $6000, then that’s what would be paid out in the event of a total loss, and rates in some states could be as low as $300 a year. Asked about underwriting a cheaper but rare import, Jonathan Klinger of insurance specialist Hagerty said, “Absolutely, those vehicles are insurable just like you insure anything else on a collector policy.” The cheapest and easiest way to insure your exotic purchase would be to go the same route taken by buyers of classic and collectible cars: Use an insurer that specializes in this realm. So you’ve found an obscure and relatively inexpensive car for sale, but what about the insurance? That will be astronomical, right? The answer, thankfully, is not usually. Even more intriguing, let’s say it can be had for less than $25,000 or even $10,000. import restrictions and is finally available stateside. Maybe it’s one of those exotic Japanese domestic market (JDM) cars, one that has lived out the 25-year U.S. Let’s say you’re casually web shopping for used cars-one of our favorite time-wasting activities-and something unusual grabs your interest.
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