Classic Car Insurance
Classic Car Insurance Information
Next to maintaining and keeping your classic car in top shape, insurance may be one of the most important, yet overlooked items an owner needs to pay attention to. Often times collector car owners use their standard auto insurance company that they use for their daily use vehicles to insure their classic car, and this may not always be a good decision. There's a chance that the insurance will be more than a specialty car insurance broker, and your car may not be properly insured also.
When looking for classic car insurance, you want to make sure you choose an "Agreed Value" policy only. This will be a value of the car that both you and the insurance agency agrees upon, and WILL NOT change due to depreciation or other factors. Some classic car owners find other policies to use, and they are leaving themselves a hole they may not be able to dig themselves out of once they need to file an insurance claim. Actual value policies use bluebook values, so you will lose out big time on this policy. Stated values allow you to state ANY value to the car, BUT this price does depreciate over time. Just make sure you stick with an "Agreed Value" policy.
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