A classic car is a valuable asset. More than the cash value of a car, many classic car owners give more importance to the sentimental value their cars have. For some, their cars may have been their ancestor's cars. For others, it may be because they have grown up with these cars that they consider them one of the most important assets they have.
If you want to have your valued car insured, it is advisable to assess your needs first and how you use your car. This way, you’ll have a good idea on the kind of coverage your car needs and won't be wasting money on unnecessary “perks” many insurance companies often include in their policies. If your car is meant for show only, your car won’t need the kind of coverage a vehicle used for everyday driving requires. Because you are using your vehicle for a different purpose other than everyday driving, you also need to look at the limitations included in the insurance policy. Would the insurance company pay for damages your car may get when you join car exhibits? When getting hot rod insurance for your car, you also have to make sure that the company is appraising your vehicle through agreed value insurance instead of actual cash value which is commonly used by standard auto insurance companies.
Get your car insurance from a classic insurance agency that understands your needs as a classic car owner. Don't just focus on the add-on perks many companies offer. Contact Classic Car Ins to learn more about our insurance policies and services.
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.