When it comes to antique and classic car insurance coverage, what you DON’T know will utterly kill your budget
…unless you carefully consider these critical points before you get started.
But before we go too far… 610-590-4475 is the number to call if you are ready to see your company name and number here!
…because I specialize in planning, creating, and advertising videos just like this!
…now… back to our article :-)…
Although you can buy a custom insurance policy that covers your specific antique vehicle, please keep in mind there are many factors that drive up to the total cost of your policy.
Warning: be sure to reference your actual insurance carrier’s requirements, descriptions, and disclaimers versus the information provided here. This is simply an overview for your convenience!
Bodily injury liability.
Please note this covers both injury and death claims against you as well as costs related to legal fees in the situations where your vehicle injures or even kills someone else.
Property damage liability.
This covers property claims in situations where your car creates the damages in an accident. Since this liability coverage protects not you but the other party, it is required in most all states.
This coverage pays for injuries Booz to yourself and to other occupants of your vehicle. This is an optional coverage in many states. Please note that no-fault states stipulate that personal injury protection replaces medical payments as the basic type of coverage.
Uninsured motorist protection:
Coverage like this handles injuries that result to you or occupants within your antique vehicle by an uninsured and or hit and run drivers.
In the situation where under insured coverage is also available be sure to note that this under insured coverage is used when you make claims against a driver who has inadequate insurance.
This level of coverage handles damage for your vintage or antique car for up to its stated book value. Be sure to speak with your insurance representative about this before you sign the policy. Very often, as the deductible good slower, the premiums get higher. Even though collision coverage is a legally optional coverage, many lending companies and leasing companies require collision coverage. If your vehicle is not least and has no loan against it, then be sure to make this clear to your insurance agent.
Comprehensive physical damage:
This type of coverage is used in situations where damage to your car resulted from theft or acts of God such as fire, wind, flood, and other non-accident situations. Comprehensive physical damage coverage very often also carries a deductible, so be clear on this point with your insurance representative.
Beyond those types of coverages, you will also find that the year, make, model and availability of parts also have an impact on the amount you pay. Watch for other videos in this series, especially the one on collector car insurance reviews, which hits this point on vintage car part sources.
Which is to say that the older and more rare antique cars or classic vehicles almost always have higher premiums due to their rare nature. This is all the more reason to double check your classic car insurance online.
Insurance coverage costs are based in part on established price values of any given antique classic car. This affects the replacement cost in situations where your vehicle is stolen or considered totally damaged and non-repairable and an exit. The expenses related to your vehicles repairs, including those parts and labor, will unavoidably impact your insurance costs. Beyond that, there are often additional charges apply on antique vehicles that are often stolen or involved in any type of accident.
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