Your Guide To Insuring Your Classic
Your classic car is drastically different than the other vehicles out on the road today. Not only is it more unique and valuable, but it also requires some extra love and care to keep it in top shape. You know this and have invested significant time and money in your classic car. Have you protected that investment?
So that you can best safeguard your classic car, use these insurance tips.
- Determine Your Type: There are some parameters that can help you understand if your vehicle is collectible, although the market is broadening. Generally, your car must be at least 30 years old to be considered a classic. If your vehicle qualifies as a unique classic car, it deserves unique coverage.
- Know Your Options: While you can insure your classic car with a standard auto insurance policy, it will generally be both more expensive and more restrictive. Shop classic car-specific coverage so that you can get an idea of your coverage options before you purchase a policy.
- Understand Your Coverage: Some policies will cover actual cash value, while others will cover agreed value. Since car value depreciates over time, your actual cash value coverage could payout an amount insufficient to cover your investment. Agreed value coverage will allow you and your insurer to agree upon the worth of your vehicle and set up a policy that will protect it for that specific amount without depreciation.
You deserve to have classic car coverage that will reflect the true value of your car. To work with a dedicated, expert agent to tailor the right agreed value policy for your protection, contact Insurance and Mortgage Services. We are here to ensure your classic car has the right insurance to protect its unique worth. Serving Batavia and the rest of Illinois, can help you cover your classic.