Insurance is one of those necessary evils in life. When it comes to insuring your pride and joy the first decision you need to make is whether you will be driving your car back and forth to work. Collector car insurance typically has much lower rates than your standard insurance but comes with such restrictions as no to and from work use, and restricted amounts of mileage per year(depends on the insurance company). Edmonton Classic Car Insurance has some excellent information. As long as you’re willing to follow these rules it’s definitely the way to go.
Having appraised value for your vehicle is very important so that if a claim is ever made you will have proper coverage. Insure the appraiser you use is on the insurance companies approved appraisers list before having the appraisal done.
The collector car insurance companies I am aware of for people residing in Alberta are Canada Brokerlink (formerly Baker insurance) in Calgary, Competition Insurance Incorporated in Edmonton, Legends Collector Vehicle Insurance in Medicine Hat/Calgary , Hagerty Collector Car Insuance available at Lundgreen and Young and Palliser Insurance in Calgary. Competition Insurance Incorporated offers the Silver Wheel Plan for antique car, classic car or special interest automobiles and the Custom Wheel Plan for modified cars, street rods or custom automobiles.
Companies generally differentiate between “classic” and “antique” according to how old the vehicle is. For some companies, 15 years or less makes it a “classic” and anything older is an “antique”. For others, the dividing line is at 20 years, and for still others it’s 25 years. (per http://www.edmontonclassiccarinsurance.ca/ )