As an antique car collector you may have spent years and a lot of money in order to get your car in the best possible condition. So when you are looking to get car insurance, it makes sense that you would want the best possible coverage. In some cases you may be able to insure your antique car with your personal auto policy, but other times you may need to purchase a separate classic car policy. Here we
Agreed Value: Most cars lose their value overtime, however classic antique, classic, and collectible cars are another matter. With Agreed Value Coverage in the event of a loss you will receive the total value of the previously agreed upon amount.
Breakdown Assistance: Covers the cost to tow your car to the repair shop of your choice.
Transportation Expense: Your policy may reimburse you for the cost of renting a vehicle while your car is being repaired. Or you may have the option to rent a car of comparative value.
Emergency Living Expense: Your policy may cover lodging in the event that you incur a loss far from home.
Personal Property: Your policy may cover personal property that is lost or stolen from your vehicle.
Glass Coverage: Covers the cost to replace your vehicles windows.
Original Equipment Manufacturing Parts: This type of coverage may cover original parts (so long as they are still made).
will provide you with a few things that you may want to keep in mind when considering which insurance policy to go with.
Because antique cars don’t have the same safety features as modern vehicles, they are often too expensive or excluded from a standard auto policy. Classic car policies on the other hand have unique features and uses of classic cars in mind when it comes to pricing and coverage options. Typical classic car policies value the vehicle based on a concept called Agreed Value. Under the Agreed Value concept, the Insured will receive a previously agreed upon amount. Unlike standard auto policies, Agreed Value Coverage does not incorporate depreciation of the vehicle.
In order to acquire Classic Car Insurance man policies require that you use your car only under certain circumstances such as a show or pleasure drives. You may also need to prove that you own a separate car for daily use by insuring it under you name. Finally in order to get Classic Car Insurance you may also have to prove that you have maintained the car properly.