you wax it, you talk to it, you're going to want to protect it.
What is Classic Car Insurance?
A classic car insurance policy starts with the same features as a standard automobile policy. This includes liability, collision, comprehensive, and uninsured motorist coverage. Although a standard automobile policy is a good place to start, classic car owners can benefit from the added features that come with a classic car policy. These extra features address some of the unique aspects of owning a collector car.
Not all classic car policies are the same. vary depending on the age of your car, how much you drive it, any modifications you’ve made, and policy extras. Here are few examples of the differences between a standard automobile policy and a classic car policy:
1. Less Expensive Classic car insurance is often less expensive than standard car insurance for a couple of reasons. One, the owners tend to drive these cars less. Two, insurance companies consider classic cars lower risk because it is assumed that owners will take extremely good care of their vehicle and keep it in the garage when not in use.
2. Actual Cash Value (ACV) A big difference between a classic car policy and a regular car policy is the amount paid out if it is totaled. A standard car depreciates as it ages, therefore, a regular auto policy will pay to replace the car at the actual cash value (depreciated value). Classic and antique cars on the other hand, do not depreciate with age. Instead of ACV, classic car owners and their insurance carrier decide upon an agreed value that will be paid if the vehicle is totaled.
3. Repair Shop of Your Choice We understand that a classic and antique car enthusiasts are often very picky about who is allowed to work on their collector car, and we're sure you’re no exception. It is common for classic automobile policies to allow owners to get repairs done at the repair shop of their choice.
4. Auto Show Medical Coverage One of the benefits of owning a classic or antique car is putting it on display at cruise night events and other auto shows. While fun, these events can put classic car owners at increased exposure to liability. This type of policy provides pre-set medical coverage in case a client or family member is injured during an auto show.
Getting the right coverage for your classic car starts with expert consultation. We will review your vehicles unique characteristics and any past policies, explain all the options, and craft personalized coverage. Our access to the top carriers means that you will get the policy you need at a price you can afford. We look forward to serving you!