Collector Boat Insurance Helpful Advice and Useful Tips

• Auto Insurance Basics
  When you need help or information, we're there for you. We like to keep informed, and sharing what we know with you is an important part of being on your side.
  
• Auto Insurance Basics : Being Prepared
  If you are ever involved in an automobile accident, one way to minimize the stress and anxiety you suffer is to be familiar with your insurance coverage
• If you are involved in an auto accident, take the following steps:
  1) Don't leave the scene
  
  2) Call for medical assistance if there are injuries.
  
  3) Call the police- The Ontario Highway Traffic Act was revised as of January 1, 1998 and accidents over $1,000 must be reported to the police. This is not per car ,but, for the entire accident and all vehicles involved.
  
  4) Drivers involved in a collision must now exchange drivers license numbers and pertinent insurance information in writing, as well as, license plate number and registered owner information. Please consider this simple tip - Keep paper and a pencil in the vehicle for this reason.
  
  5) All collision with personal injury must be reported to the police and insurance company immediately. Do not make statements to the other insurance company involved until you have talked to your own insurance company and adjuster.
  
  6) If the collision doesn't involve personal injuries police may direct motorists to a Collision Reporting Center or local police station. Report to that Center and provide all necessary details and get a copy of the report for your records and your brokers records.
  
  7) Never pay cash for a claim -to the other person involved in the accident at the scene. Don't pay cash to the tow truck driver without a receipt (you may be reimbursed by the insurance company)
  
  8) Look for witnesses. Record the names of any witnesses who saw what happened. These people are very important if your participation in the accident is questioned at a later date. Preferably look for people that are not in your car, but, were situated near the accident scene at the time and saw what happened.
  
• Collision and comprehensive coverage
  If you cause an accident, collision coverage will pay to repair your vehicle. You usually can't collect any more than the actual cash value of your car, which is not the same as the car's replacement cost. Collision coverage is normally the most expensive component of auto insurance. By choosing a higher deductible, say $250 or even $500, you can keep your premium costs down. However, keep in mind that you must pay the amount of your deductible before the insurance company kicks in any money after an accident.
  
  Insurance companies often will "total" your car if the repairs the company must pay exceed what the car is worth.
  
• Comprehensive coverage
  Comprehensive coverage will pay for damages to your car that weren't caused by an auto accident; damages from theft, fire, vandalism, natural disasters, or hitting a deer all qualify. Comprehensive coverage also comes with a deductible and your insurer will only pay as much as the car was worth when it got wrecked.
  
  Because insurance companies normally will not pay you more than your car's book value, it's helpful if you have a rough idea of this amount. Most insurance adjusters use the Kelley Blue Book. The National Automobile Dealers Association also publishes the Official Used Car Guide, which is updated each month. If your car is worth less than what you're paying for the coverage, you're better off not having
  
• About Collector Car Insurance
  Once you've purchased your dream car, you may discover it's not possible to include the vehicle on your regular insurance policy. The agent's insuring guidelines may indicate the vehicle may be too old to be covered by a standard policy. For example, some older vehicles like the fiberglass-bodied Corvette may also be excluded from regular policies due to the high cost of repairing the vehicle.
  
  Specialized policies often require belonging to a club and limiting the annual mileage. Most of these policies will cover transportation to exhibitions, club activities, parades and very moderate occasional use. However, they usually won't cover the vehicle for routine or everyday driving.
  
• Collectable Car Types
  There are many types of collector cars. Some are antiques or classic models, some are new exotic foreign cars. Whether you rebuilt a car from the ground up, or purchase a collectable car outright, insurance will protect your investment and give you some peace of mind.
• Bodily Injury Liability.
  Pays your legal defense costs and claims against you if your car injures or kills someone. Covers family members living with you and others driving with your permission.