Classic and Collector Car Insurance in USAby Ankur S. Get Free Insurance Quotes Online
All classic car insurers share a few common themes. They all assign a value stipulation which allows you to set how much you think your vehicle is worth in the event your vehicle is a total loss. They also comprehensive and collision insurance to protect your vehicle from anything that may damage it. There are also several key differences. The field of companies for classic cars is not as many as it is for normal cars, some classic of these classic car insurers are better than others.
Classic and Collector Car Insurance Companies
The companies in this field are a bit different from the companies in the traditional car insurance market. If you are new to insuring a classic car, the companies may seem unfamiliar.
A good plan provides flexible mileage plans, including an unlimited one which is perfect for collectors who like to drive their vehicle occasionally. You should also get the largest standard spare parts coverage, as well as ‘inflation guard’ which ensures your policy scales as your car increases in value.
The financial strength of a company is an important consideration but it is normally an underrated quality. The stronger a company’s finances, the less likely they are to deny or reduce on a claim pay out. The company should serve in most states, allowing a majority of customers to be insured by them.
Most Spare Parts Coverage
American Modern, in addition to its flexibility, offers $2,000, or 4x more standard spare parts coverage than any competitor beside Hagerty which offers $750. If you anticipate your collectible car will have many spare parts that are at risk for being lost or stolen, American Modern provides the most coverage for the fairest price.
Non-Traditional Classic Cars
If you are looking to protect a vehicle that does not fit the traditional definition of a classic car, there are companies that allows you to insure anything from a traditional classic car, a fire truck, or even a retired military vehicle.
Some insurance companies allow you up to 10,000 regular use miles which is similar to what someone may drive on a normal policy. Most collector of cars owner do not drive them regularly. Some companies may have a stricter list of vehicles it will insure, including a ten year required minimum.
If your classic car is undergoing restoration, and want to make sure nothing happens to it, you will need an insurance specific to such restoration coverage.
There are several 'non-traditional’ vehicles that these companies actually insure that do not fall under the term of "classic car like a a modified street rod, a kit car, vintage motorcycle, 1915’s milk truck, or even a retired military vehicle. There are several companies that insure such vehicles.
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Created on Oct 2nd 2019 10:40. Viewed 336 times.