Classic car insurance offers specialized coverage options that are tailored to address the classic car owners' needs. The defining feature of classic car insurance, however, is agreed value coverage. Agreed value coverage means that, unlike regular cars that are mainly valued by insurers based on age and mileage, the valuation of your classic car is based on a value you've agreed upon with the insurance company. Typically, the agreed value depends on factors such as:
"Classic car" is a vague term with no precise definition. According to the Insurance Information Institute (III), classic or antique vehicles are 25 years or older. However, if you are shopping for classic auto insurance, how the insurance company defines classic automobiles is what matters. Many insurers provide classic car insurance for various types of vehicles including:
One of the main benefits of carrying classic car insurance is that the policy is tailored for antique, collector, or rare cars. The agents, adjusters, as well as other staff, have a clear understanding of classic cars and the classic car owner's needs. Classic car insurance provides specialized coverages that include:
Classic auto insurance also provides the standard car insurance coverage such as personal injury protection, liability, property damage, collision, comprehensive, and uninsured motorist coverage.
While requirements vary from insurer to insurer, most policies include mileage limitations. You also need to prove that your vehicle is properly garaged both at home and when you are traveling. Typically, you can't use your classic car for everyday errands and commuting, and your insurer may require you to have a primary car for daily use.
Classic car insurance policies offer varying coverage options. Therefore, you should find a policy that meets all your coverage needs.
Discounts can help you make significant savings on auto insurance. If you are insuring more than one car or a collection of classic cars, you should find out from your agent whether the insurer offers multi-car discounts. You might also be able to bundle your policy with something like home insurance. Many insurance companies offer discounts to individuals with clean driving records as well as homeowners and seniors.
At Jack Stone Insurance Agency, our experts will help you find a classic car insurance policy that provides adequate coverage for your classic car. We serve Antioch, Brentwood, and surrounding cities in California. Contact us today to get started!
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