Classic car enthusiasts spend a lot of time and money restoring their collectible cars to mint condition. To protect these prized assets, the proper coverage should be specialty car insurance and not just ordinary car insurance. Here are some advantages of classic car insurance over standard auto insurance.
The value of your vehicle will be appraised using agreed value. You and the classic car insurance company set the value of your car. Agreed value insurance is fixed and the maximum value will be paid in case of total loss. Standard auto insurance use actual cash value where the value of your car is based on your car's age. Actual cash value depreciates as the car gets older. Also, classic car insurance premiums are generally lower. These vehicles are usually considered low risk vehicles as they are not commonly used for everyday driving. There are fewer instances where collectible cars are damaged because they are usually only used in car shows and parades. Vintage vehicle insurance also comes with benefits like auto roadside service. Ordinary roadside services might not be able to assist you because of the make and model of your car. Auto roadside service from a classic car insurance company will have the proper tools and knowledge to help you in case your vehicle breaks down. Another benefit of having specialty car insurance is car club membership. With car club membership, you can get access to exclusive classic car events.
Specialty car insurance has a lot benefits. Get your free collector car insurance quote today.
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.