Whether you are a seasoned classic car collector or only own one classic car, you are aware that each vehicle is created different. You would not treat your 1971 Porsche 911S the same way you would with any other personal vehicle you owned. This fact is also recognized by car insurance agencies as well. Because of this, US auto insurance companies usually offer special rates for collector car insurance.
It can be challenging sometimes to find classic car insurance. This is particularly true when you are looking for auto insurance online. Many sites typically don’t understand the complexities of valuing a classic car like what the difference between an ‘antique’ car and ‘old’ car is or restoration costs. Because of this, it’s important you take the right steps to getting the right kind of classic car insurance. Here are some tips.
Work with an Experienced Independent Insurance Agency for Classic Car Insurance
Look to work with an independent insurance agency that has experience dealing with insuring classic cars and understands the requirements. Look to see if they’ve already insured other classic cars. You can end up with sub-par coverage if you try to insure your classic car under your generic auto insurance. If you do work with an experienced classic car insurer, the agent will be more inclined and able to help you should you ever have to file a claim for it. They will be able to provide you with a value on your car to effectively plan the coverage you need.
Decide your Comfortable Level of Insurance Deductible
Before you begin to compare insurance company quotes, make sure you have already decided on the level of insurance deductible you are comfortable with and let each company that you talk with know this level beforehand.
Consider an Agreed Value Coverage
It might be in your best interest to insure your classic car under an agreed value coverage plan. The way this works is you and your insurance agent will come up with an agreement on a particular set value for your car. This is many times based off a professional appraisal or its auction price. Then, if your vehicle is damaged during a covered accident, you will receive the value amount that you agreed on. Regular insurance policies don’t work like this and often rely on fair market value or Kelley Blue Book to come up with their figures.
There is no need to get confused or overwhelmed with these factors when you are insuring your classic car. Just do your shopping and compare different policies before you decide on which classic car insurance you want to purchase. Be sure to read through your policy thoroughly before you sign it and you should be fine. You might find it much easier to bundle insurance policies with one independent insurance agent. This could also help you save money as well.
To get your classic car insurance quote today, contact BOLT Insurance Agency. 1-800-216-4171