Classic Car Insurance Information
Insuring classic and specialty cars can be confusing for the first time buyer, because how you cover the car depends on how you re going to use it. If you ve never owned a classic before, you may not know the right questions to ask your insurance agent. And if your agent isn t familiar with classic cars, they may not know the best way to insure yours. Finding out the hard way that your precious investment wasn t covered properly will not make the ownership of a classic car a happy experience.
There are varied levels of service, rates and types of coverage and claims handling with standard car insurers. The same is true with specialty car insurance companies. Anyone insuring their classic should dig deep and research all options before making a final decision. Cost should be considered, but in our opinion, should not be the determining factor. When buying insurance you are buying a service; look for quality customer service, excellent claims handling and a knowledgeable staff who know and understand collector vehicles. An insurance policy may only be as good as the staff that is processing your claims.
Here are some of your classic car insurance options:
Classic Collectors Insurance
Classic Collectors insure antique, classic, street rods, pro-streets, exotics, racecars, replicas and custom trucks. They have mileage programs available for 1,000, 3,000, and 5,000 miles per year. Full pleasure driving is allowed; with no vehicle age limitation.
Classic Collectors says they insure more than 50,000 customers in 42 states.
Hagerty Classic Insurance
Hagerty Insurance Agency has been in the insurance business for more than 40 years and insuring collector cars since 1991. Some of the benefits they include in your premium are Agreed Value coverage, single liability charge no matter how large your collection, an in-house claims department and you can use the repair shop of your choice.
Haggerty says its policy allows you occasional pleasure use with no fixed mileage restrictions. With Hagerty, you can go for a weekend drive, take your vehicle up to the local ice cream shop or attend unlimited events and cruises.
CHROME Specialty Car Insurance
CHROME spells out what type of cars they insure Classic – Hot Rods – Original – Modified – Exotic. Their benefits include Agreed and Stated Value coverage, generous annual mileage up to 10,000 miles, roadside service and flatbed towing, and $500 spare parts coverage.
Grundy Worldwide Insurance
With more than 60 years of insuring collector cars under their belts, they are likely to know more about insuring your car than you do. They offer Agreed Value coverage, no model year limitation and unlimited mileage.
American Collectors Insurance
American Collectors Insurance gives classic car insurance quotes to qualified cars, either original or modified if it is at least 15 years old, kept securely in a garage, and driven on a limited basis – 5000 miles. They offer Agreed Value coverage, zero deductible, and at no additional cost, an inflation guard which will increase your vehicle’s value by two percent every quarter, up to a maximum of eight percent per year.