Have a Classic Car? Make Sure Your Insurance Policy Actually Covers You

Have a Classic Car? Make Sure Your Insurance Policy Actually Covers You

| October 11, 2019
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You spent so much time and energy carefully building the car of your dreams. Your classic car may even seem more like your baby than just another vehicle. You definitely want to protect it! But if you only have standard auto insurance, you’re likely not fully covered.

Why not?

The marketplace values classic and collectible cars differently than “regular use” drivers, so you’ll need a policy that provides different coverage. Since classic and collectible cars often register as older vehicles, they aren’t evaluated at their true market value according to standard insurance practices.

If you have an accident, you could end up paying the difference out of pocket on any repairs or replacements you’re not fully insured for, or if there’s a gap in your policy you didn’t know about.

How do I make sure I’m covered?

Unlike standard auto insurance, classic and collectible car insuranceis geared to cover the full collectible value of your car. In the same way you’d customize your ride, you need a customized classic car policy, which takes into account the car's collectible value, the miles you drive each year, and many other personalized adjustments. Plus, you only pay for what you need since you won’t need full-time coverage.

At Crunelle Insurance Agency, we offer specialized insurance for antique and classic cars, modified collector cars, reproductions, replicas, restorations and modern classic cars.

How do I qualify for classic and collectible car insurance?

When we submit your application for insurance, your insurance carrier may require us to provide some or all of the information below. Should you ever be in the unfortunate position of filing a claim, everything will be in order.

  • Usage: It’s your car and you should feel free to drive it; we will tailor your policy to reflect your driving habits
  • Storage: Your collectible car should be stored inside a secure locked garage or structure. The following storage facilities normally qualify: residential garage, barn, secure rental storage unit, and others. Let’s talk about yours!
  • Regular-Use Vehicles: Since you don’t need to drive your “baby" every day, carriers will require that you maintain “regular use” insurance in your name on a daily driver vehicle. Customarily, motorcycles do not qualify as a daily driver nor does public transportation.
  • Driver Eligibility: As with other forms of auto insurance, your driving history will also be taken into account. Serious infractions within the last 5 years such as OUI, DUI, excessive speeding, driving recklessly or an alcohol citation could affect eligibility, but may not necessarily disqualify you. Minor traffic violations or accidents per household are generally acceptable.
  • Is your car insured for stated or agreed value? The loss settlement could be very different in the event of a claim.

Ready to protect your classic car?Visit our websitefor more information and to request a quote!

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