Barbie, insuring her classic car.

Meet Barbie, full name Barbie Millicent Roberts, a fashion model with iconic taste in cars. Her prized possession is a 1958 Chevy Corvette 4.6L, a powerful and stylish vehicle that exudes elegance and sophistication. Barbie just moved to Compass Hill in Kinsale, Co Cork from LA, and imported this beautiful classic car. Barbie understands the importance of protecting her cherished investment. With an inception date of July 21, 2023, and registration number B4K4EVA, she is eager to explore the world of classic car insurance to ensure her beloved Corvette remains safe and secure. In this blog, we will accompany Barbie on her journey to find the perfect classic car policy for insuring her dream car.

After Barbies Broker Insight Insurance thoroughly researched and compared the market. As well as the different classic insurance providers, and policies, and used their in-depth knowledge to advise Barbie. She has decided to use Securus Insurance Ltd and their new Classic Car product, this policy has a minimum age of 30 to be insured. But with a date of birth of March 9^th, 1959, Barbie although forever 19 safely meets this criteria. She also holds the required full Irish licence for a minimum of 5 years. This was the best policy available to meet all of Barbie’s requirements. Thankfully she had the good sense to use Insight because this policy is only available to Brokers. So if you have any questions at all, please email our resident classic insurance expert here and he’ll be able to help you out.

Classic car insurance is specifically designed to cater to the unique needs of vintage vehicles, such as Barbie’s Dream Car. Unlike regular car insurance, which focuses on depreciation and current market value, classic insurance considers the historical significance, rarity, and sentimental value of the vehicle. Since classic cars tend to appreciate in value over time, traditional insurance policies often fall short in providing adequate coverage for these prized possessions.

Barbie’s Chevy Corvette is not just an ordinary car; it’s a classic beauty that holds a special place in her heart. As a fashion model (her first career, because we all know Barbie like all women, can be anything she wants), she appreciates the allure of timeless elegance, and her Corvette perfectly reflects her style. Understanding the unique needs of her vintage car, Barbie decides to explore classic car insurance to provide it with the protection it deserves.

Agreed Value Coverage:

Barbie knows that traditional car insurance might not accurately assess her Chevy Corvette’s value, especially given its status as a classic car. With classic car insurance, she can secure an agreed value coverage, ensuring that in the event of a claim, the pre-determined value of €157,200 will be honoured. This guarantees that she won’t have to worry about her Corvette being undervalued and losing out on its true worth. The minimum value on this policy is €25,000 and the car must be 20+ years old.

Coverage for Vintage Spare Parts:

As a fashion model, Barbie appreciates the value of authenticity. She understands that finding vintage spare parts for her right-hand drive Chevy Corvette might be challenging and expensive. With classic car insurance, she can opt for coverage that includes rare and hard-to-find spare parts, making any necessary restorations more feasible and cost-effective.

Limited Mileage Options:

Classic insurance typically offers limited mileage options, acknowledging that vintage cars are driven sparingly and mostly for specific events or leisurely drives. This aligns perfectly with Barbie’s intention to preserve her Corvette’s pristine condition. For this policy a mileage allowance of 3501 – 5000km was given. Also, she is now living in Cork, why would she want to go anywhere else!

Expert Restoration Services:

Barbie is committed to maintaining her Chevy Corvette’s authenticity and beauty. She’s relieved to learn that classic insurance often partners with specialised mechanics and restoration experts who understand the unique requirements of vintage vehicles. With their expertise, any repairs or restorations will be carried out with the utmost precision, preserving her car’s original charm.

Affordable Premiums:

With all her hair, makeup, and clothing expenses, not to mention the shoes. Barbie is mindful of her budget. Contrary to popular belief, classic car insurance offers competitive premiums, considering that classic car owners tend to be responsible custodians of their treasured vehicles. Barbie is delighted to find that she can protect her cherished Chevy Corvette without breaking the bank. The cost of this policy with Chubb through Securus is actually only €783.30.  Not a bad price, considering a Barbie pink Chanel handbag will set her back approx. €9,000. You can check out all the bags from the movie here.  

Barbie Millicent Roberts is not only a fashion icon but also a responsible and proud owner of a Chevy Corvette 4.6L. By exploring the world of classic insurance for her beloved dream car, Barbie ensures that it receives the protection and care it deserves. With agreed value coverage, coverage for vintage spare parts, limited mileage options, and access to expert restoration services, Barbie can drive her Corvette with confidence and delight in preserving its timeless elegance. So, as she embarks on new adventures with her cherished Chevy Corvette, Barbie can rest assured that classic insurance will be there to safeguard her beloved treasure, keeping it as timeless and elegant as she is.

Barbie’s top tips for finding the right classic car insurance:

• Research and Compare: Take the time to research different classic insurance providers, their policies, and customer reviews. Compare coverage options and premiums to find the one that best suits your needs.
• Agreed Value Appraisal: Obtain an agreed value appraisal from a certified professional to determine the car’s true worth accurately.
• Membership in Car Clubs: Some insurers offer discounts to members of recognised car clubs or organisations, making it beneficial to join one. While this policy doesn’t require membership of a club, some underwriters will require proof of membership before confirming cover.
• Secure Storage: Ensure that your classic is securely stored in a garage or storage facility when not in use, as this can positively impact insurance premiums.

If you have a classic car and would like to find out your options for Insurance you can email us here.

Photo Credit: Catherine Asanov for Licensing Expo. More photos can be found here.