There is quite some confusion when it comes to insuring your car. Even more is the chaos when you need to place your car under the classic or special car category. Some of the common questions asked are regarding the type of vehicle that is covered, coverage, claims, costs, etc. The Classic Collector Insurance depends on how you plan on using the car, since how you cover it revolves around the answer to that question.
Despite the cost and restrictive policies laid through standard insurance companies is highly preferred by street rods, specialty cars and collectible owners alike. Most of the collector cars that ride the road today are insured through the specialty programs.
The vintage cars must be protected in the golden years, maintaining the condition and shape which each car deserves. Here are some of the popular Coverage Options for your classic car insurance.
Roadside Assistance- Many companies offer assistance in case of any malfunction occurs while riding by providing emergency services like fuel delivery, changing a flat etc.
Collision: In case of an accident that involves collision due to the other driver’s fault the insurance companies handle the expenses.
Personal Injury Protection: Accidents that cause physical wounds, resulting in a hospitalized state is taken care of by the insurance along with Medical Payments.
ACV (Actual Cash Value): the ACV coverage is what almost all the cars are insured with and pays out with the help of a depreciated book in case of any claims.
Stated Values: This coverage is considered to be better than the SCV mainly due to the facility available for stating the value.
There are several factors to be considered when valuing the classic cars. Here are some of them listed for your perusal.
The first thing to consider is the originality of the vehicle.
If the stock originality is confirmed, there are plenty of pricing books as well as resource guides to help you evaluate the vehicle depending on the shape and condition in which it is maintained.
These guidelines and pricing are however less useful is your vehicle has been newly restored and even more unnecessary for the street rods.
However, when you do restore cars or build street rods, make sure you have a detailed list of what work has been used along with the receipts. This will be helpful to insure the car properly and maintain the process with a smooth flow.
Appraisals help occasionally, but aren’t necessarily always.
The Classic Car Insurance is a financially safe and affordable choice. Any car that is fifteen or more years old comes under the classic car category, and can be subjected to Classic Car Insurance. Interested collectors as well as hobbyists, can afford to insure, own and enjoy, thanks to the specialty insurance programs that work out better than the standard insurance with good benefits and remarkable rates.