There are many collectible classic cars that are under a standard auto insurance. Most standard auto insurance policies costs 400% more than collectible car insurance. Collectible car insurance is different from standard auto insurance when it comes to premiums, service levels and benefits. It is recommended to have your classic car covered by specialty car insurance.
Standard auto insurance gives you coverage from vehicle damage and personnel injury. The value of your vehicle is based on standard guidelines where the value of your vehicle decreases as it ages. This doesn’t give you the best value for your money because your vehicle’s true worth isn’t assessed properly. Collectible car insurance has a different method of appraising vehicles. Classic car insurance companies use an agreed value policies where you and the insurer set an agreed amount for your car. Insurers dig deep into the car’s worth by checking the maker, parts used, modifications and money spent in restoring the vehicle. This gives your classic car the right value and better coverage. Aside from that, you get benefits like auto road service and car club membership with your vintage vehicle insurance. Collectible car insurance also costs lower than standard auto insurance because classic cars are considered low risk items. They aren’t subjected to daily wear and tear unlike ordinary vehicles used for daily transport.
You can save money now by getting collectible car insurance. It is best to ask for collectible car insurance quote and compare it with other quotations to find out the best coverage that suits you.
About the Author
Drew Yagodnik is Vice President of Classic Automobile Insurance Agency, Inc. Classic Automobile Insurance Agency has been protecting collector, classic and exotics since 1992.