Collector Car Insurance Singapore

Before we can begin to talk about collector car insurance in Singapore, lets first set the context of what a collector car is.

A collector car is usually a perfectly preserved vintage car or a nearly brand new, ultra exotic car which is limited in production quantity, high in demand by car collectors and seen as an investment in the collector cars market.

A well restored old car which one finds in the group of Rare and Exotic Car classifieds at sgCarMart online may not classify as a collector car in this context.

Whether or not a classic car is of collector car value largely depends on its make, its history, its past owners and its past participation in races which people know and care about.

Some examples of collector cars which have been hotly pursued in collector car auctions include the Jaguar E-Type Roadster, Aston Martin DB5, Porsche 918 Spyder, Lamborghini Countach and Ferrari F40.

As investments, collector cars are precious assets which can potentially bring high returns so Singapore collectors tend to buy such vehicles for display and appreciation.

The collector car insurance policy in Singapore is only suitable to cover collector cars which are kept as collectibles and does not insure collector cars which will be taken out to drive.

Should any loss or damage be caused by taking out your vehicle to drive, the insurance company is not liable to pay out the claim under this policy.

If you are intending to drive your collector car, you need to get a motor insurance plan which provides either a Comprehensive Cover, Third Party, Fire & Theft Cover or Third Party Only Cover.

At elloAuto, we connect you to licensed representatives who can advise you on collector car insurance from multiple insurers in Singapore.