Classic & Collector Cars

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If you own a specialty car, you’re already aware of how different it is from an ordinary automobile. Your vehicle is a substantial investment that requires special attention from maintenance to storage to insurance coverage. It is important to know the difference between standard auto insurance and specialty auto insurance to make sure your prized vehicle is protected properly.

Here are some frequently asked questions that may help you decide if specialty auto insurance is right for you.

What is collectible car insurance?
Classic car insurance provides coverage for your collectible vehicle based on the agreed-upon value of the car. This means that, unlike standard auto insurance policies that are rooted in cash value and depreciation, your policy will cover to the vehicle’s worth. You can also appraise your car and review your policy yearly to make sure your coverage is appropriate.

Can I just use my standard auto insurance policy?
Your collectible car is beyond ordinary and your insurance coverage should be, too. Unlike standard automobiles, your collectible won’t be driven frequently. This means instead of depreciating in value, your vehicle’s worth may actually appreciate over time. You need an insurance policy that will cover the investment you’ve made now and be able to adjust later. Otherwise, you risk losing money in the event of an accident.

What does collectible car insurance cover?
Policy coverages vary by insurance company, but standard collectible car insurance liability, collision, uninsured motorist, medical payments, and personal injury protection coverages.

What types of cars are insured?
There are several different types of classic cars that necessitate collectible car insurance coverage. Insurance providers vary, but typically cover antique, classic, exotic, and luxury vehicles.  

How much does specialty automobile coverage cost?
Classic car insurance policies vary in price based on vehicle type and desired coverage. Since limited mileage and drive time are requirements for specialty auto insurance, the premiums for these types of policies are generally lower than standard auto insurance.  Work with a trusted insurance professional to develop the right insurance policy to match your needs and budget. 

You’ve got the car, now get the coverage. Call us today at 615-209-9362

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