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| Classic Car Insurance for Students |  Students owning cars face the issue of keeping their car insured, as it is obligatory for any car owner in the US. A lot of students are listed as dependants in the insurance policies of their parents. On the other hand, a number of insurance companies insist on removal of a student’s name from the parent’s policy, mainly, when the policyholder has marked a waiver of assurance that the student will not drive a vehicle. In such cases, the students face lapse in coverage, which in the long term can be an obstacle to getting car insurance. It is consequently, very important for students to have their own insurance policies.
Many insurance companies do not insure students and the ones that do offer it quote high premiums. This is more so when the car owned by a student belongs to the category of classic cars, which are characteristically old and out of date models. Some students have a preference to buy classic cars due to their age value but find it not easy to pay for large insurance premiums on such cars.
However, there are some insurance companies that offer third party only insurance policies for classic cars at realistic rates. Third party insurance covers students in the unfortunate event of an accident where somebody is injured or killed. Nevertheless, they are not compensated if the injure occurs to their own car. In this way, students can be covered as third party for other vehicles.
Some companies propose students the fire and theft insurance policy, which is appropriate for those that live in poorer, crime infested areas where cars are more vulnerable to theft. This policy covers students if their car is stolen or damaged by acts of theft or arson. Classic cars can be with no trouble stolen, as their locking systems are not as powerful as the modern cars.
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