Avoid Standard Insurance Policies on Antique Cars
August 20th, 2009
Insuring a classic car is not quite the same as buying coverage on a standard vehicle. When it is time to buy a policy, it is often best to turn to a company that specializes in this type of coverage. Doing so will give you the peace of mind found in knowing that your investment is protected.
Insurers that specialize in antique and classic vehicles will do a few things for you that other carriers might not be able to. These include:
Providing full coverage – Standard insurers might be hesitant to fully insure a classic from decades past. Specialty insurers do this all the time.
Offer agreed-value coverage – If the unthinkable does happen when you are behind the wheel of a classic, trying to recoup the actual value of the car through a standard insurer is no easy feat. Specialty carriers will offer an agreed-value policy that will cover your investment. While you might not be able to ever replace the car, you will not lose your money in the event of an accident.
Insuring a classic car does require careful consideration. When the value of the ride is worth protecting, turning to a special insurer makes sense.
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