If you own a car that’s considered a classic, you own a unique type of vehicle. Classic cars, often referred to as antiques or collectibles, function similarly to ordinary automobiles but tend to be older and of higher value. Classic cars are also vulnerable to many of the same accidents that typical automobiles tend to be susceptible to. A classic car insurance policy can help protect your vehicle from incurring significant out-of-pocket expenses following an unforeseen incident.
What Is Classic Car Insurance?
Similar to a normal auto insurance policy, classic car insurance works as an agreement between you and your insurer. In exchange for an insurance premium, your insurer will provide you with a certain amount of financial assistance following an accident to help with aspects such as repair and recovery costs.
What Is Included in Classic Car Insurance
Policies can vary from owner to owner, but a typical classic car insurance policy may provide benefits such as:
· Uninsured/underinsured motorist coverage
· Liability coverage
· Injury protection
· Medical payments coverage
One of the most significant differences between a standard auto insurance policy and a classic car insurance policy is agreed value coverage. In acquiring a standard auto insurance policy, your insurer will likely determine the cost of your policy based on comparable car models. In agreed value coverage, however, your insurer will likely determine the value of your car based on an appraisal, which is used to determine how much you’ll pay for your classic or collectible car coverage.
Who Needs It?
If you own a car considered classic or collectible, classic car insurance is coverage to consider. You will likely qualify for classic car insurance if your vehicle is:
· At least 25 years old
· A modern muscle car
In addition to qualifying for classic car insurance, your car should be in good condition and not used for activities such as racing or daily commuting. Classic car insurance is critically important in protecting your vehicle. If you are unsure if you qualify for classic car insurance, be sure to contact us today.
If you are a classic or collectible car owner near Burleson, Texas, we can help you out. The agents at Lone Star Insurance Agency are determined to assist you in educating yourself on insurance policies for classic and collectible cars so you can make the right decision on coverage for your antique vehicle.
Contact us today at 817-426-2886 to learn more.