Due to the popularity of classic and antique vehicles in Dubai, more and more insurance providers are now specializing in providing insurance for this type of automobile. Like other motor insurance, it is a good idea to talk to the right broker who understands the specialized nature of the business. Networking is a great tool when you are talking Classic Vehicles. Owners of these vehicles usually belong to classic and antique motor clubs. They know the importance of getting an appraisal and could probably recommend a reputable appraiser. The clubs schedule weekly meetings at different places. An example would be, in front of a fast food place in parking lots. They rope off an area and park their cars there for a couple of hours. They chat, exchange ideas, talk auto parts, talk insurance prices, and swap stories. To many, it is their pride and joy.
Licensing a Classical Car
To have a vehicle licensed as being a ‘Classical Vehicle’, it must be at least 30 years old and meet all the safety regulations. There are two conditions that are mandatory. The first, would be the condition of the vehicle. They will check the inside and outside of the vehicle. They will inspect the interior, floor, the trunk and tires. The second is to make sure the vehicle is mechanically safe for the road.
After the vehicle passes the initial inspection, it will be classified in one of the following six categories.
- Category A These are the cars dated from 1950 to 1980 that can be driven on the roads under 10,000 km a year
- Category B Vehicles that were manufactured before 1950 than can be driven on all roads, but not more than 5,000 km a year
- Category C You cannot drive on the highway
- Category D You can only drive during the day
- Category E Vehicles can only be driven on internal and service roads
- Category F Cars are used for displays and festivals
There is a cost to register the vehicle and a cost to have the vehicle inspected. Once all the red tape is out of the way, you will receive a special certificate for the vehicle from the IFCV (International Federation of Classic vehicles). You also receive a special brown classic plate.
Getting an Appraisal
Once you receive the certificates and plates, call your broker and ask for coverage while taking it to an appraiser. If you want the vehicle insured to value, you must get an appraisal. If your primary insurance company will not insure the vehicle for the appraised value, then shop around. There is enough interest in these vehicles that there should be plenty of Classic Car Insurers.
A few tips on the appraisal for Insurance Purposes
- Make sure you use a reputable appraiser
- Interior pictures of the floor, seats, dashboard; and
- Ask for pictures on each side, the front and the rear
The written part of the appraisal will outline the year, make, model and overall condition of the vehicle. It will give a little background on the vehicle. This part of the appraisal is very important. Sometimes just having a certain year or make of the vehicle, sets a very high standard for the value. It could be 1 of only 500 made in that year. Give your insurance broker a copy and keep a copy for yourself.
Dubai is one of many towns that hold Classic Car Festivals every year. Thousands of people show up with their classic car, vintage motorcycles, and antique trucks. This is the place that people are overwhelmed by the price of these vehicles, yet they are in awe when they see a fully restored vehicle. Depending on where you live, the insurance rate on this type of vehicle is very reasonable.
Quad Bike Insurance
Quad bikes are another means of transportation that has many uses. It can be used off road for fun, working your land, or you can license them for road use. More and more people are using Quad’s for commuting to and from work. You just need to look at the use of the Quad. There are different types of insurance available to you depending on the use of the Quad.
Many of the large Insurance Companies, do not want to insure this time of vehicle. It is the same attitude they have with Sea Doos. There is just too much of a risk for large injury claims. You must be at least 19 year of age to insure the quad for road use. Like classic car insurance, your broker may have access to this type of insurer. If they don’t, ask if they can refer you to a reputable Company. You have the choice of 4 different types of insurance cover.
- If you want your quad bike to be insured for driving on a public road, you must purchase third party liability Insurance. This provides cover in case you injure another person or their property. This is a mandatory coverage.
- There is a broader policy which includes the third party liability and the fire and theft coverage
- If you need more coverage, you can purchase a more comprehensive policy. This includes the third party liability and medical costs to you, if you held responsible for the accident.
- Finally there is a fully comprehensive policy that includes all the above, plus coverage for damage to the quad.
Strict Quad Insurance Regulations
Ask your motor insurance broker how the Continuous Insurance Enforcement law will affect the insurance on your Quad. Any automobile, that is road worthy, must be insured. It doesn’t matter if it is just going to sit in the driveway. If you are not going to use it for a long period of time, you can have it needs to be declared an off road vehicle with a Statutory off road notification. This mean ‘no third party liability” is necessary.
A few additional facts:
It is always a good practice to put the theft coverage on a Quad. The theft rate is very high, and the chances of getting it back, are minimal. Better to take precautions rather than have it stolen.
It is no secret that Insurance Companies have issues with young drivers. Ask if there is a club or take a safety course they can take to lower their premiums.
Meet Alfred the insurance genius for any more queries related to classic car insurance in Dubai.