Automobile Insurance for Your Collector Car
Many people enjoy restoring makes and models of cars that are no longer produced for the satisfaction of owning a collector’s item. Others go beyond just storing the car to displaying it at old car shows. Traveling from one classic car show to the next is enjoyable and a fun way to meet others who have the same hobby. While these cars still need automobile insurance, there are several important differences in how they are insured compared to cars that are driven daily.
How Insurance Quotes for Collector Cars Are Different
When you request an insurance quote from Oyer, Macoviak and Associates, the first thing I do is ask for the value of your collector car. Because the values of these vehicles don’t depreciate, my company issues insurance coverage based on the agreed value rather than the actual value. You are the one who determines that value since you know how much time and money you have spent restoring the car to its current condition. Some other ways that a classic car policy differs from a traditional one include:
- The rates are typically much lower since you don’t drive the vehicle every day.
- You can opt for Guaranteed Value coverage, which means that you receive the full value of your classic car in the event that it is damaged beyond repair. There is no haggling about depreciation.
- You can also select flexible usage coverage. This allows you to occasionally drive the restored vehicle for pleasure without any mileage restrictions.
Request an Insurance Quote for Your Classic Car
As an independent insurance agent, I enjoy getting to know my clients so I can provide the best possible coverage for their unique needs. Please contact us at Oyer, Macoviak and Associates to request a no obligation quote today.