Antique car collectors may not realize that an insurance agency can provide specific policies to protect their vehicles. That’s because they likely think that only modern, driven cars need protection. After all, according to Bankrate, around 215 million people have car insurance in America. However, antique car collectors can also utilize specialized coverage policies to keep their items safe and minimize loss risk. Here are some reasons to get insurance today.
Protects Your Investment
For many buyers, an antique car is an investment. Many buy multiple old cars that will increase in value as they age, particularly if they’re kept in great condition. Thankfully, antique car insurance can protect this investment by providing repairs and total loss coverage. So, if someone steals your antique car unexpectedly, you can get compensated for its value and avoid losing out on all your investment.
Provides Low Deductibles
Typically, an insurance agency provides low deductibles on antique vehicle policies. That’s because this coverage focuses heavily on protecting vehicles that rarely, if ever, run. As a result, the deductible is much lower. Furthermore, many antique car repairs will cost more money than those for standard vehicles. This lower deductible ensures that collectors don’t pay too much for their policy.
Minimizes Damage Risks
While antique cars may not get driven often, sitting for extended periods may also cause damage. For instance, the oil may congeal when antique collectors aren’t careful and could wreck the engine. Antique car insurance policies help protect against this kind of common damage. They may help to replace these affected parts with components that match an owner and their vehicle’s damage repair needs.
Helps During Car Shows
Antique car owners may take their vehicles to car shows to make a little extra cash or just show off. Unfortunately, transporting vehicles to and from these destinations may put them at a higher risk of damage. Thankfully, antique car insurance policies typically have show protection that keeps a vehicle safe during transportation and while at the show, including theft risks.
These important benefits make antique car insurance a great option for any collector. If you’re looking to protect your vehicle and want to work with an insurance agency that you can trust, reach out to us today at AOA West to learn more. Our team of experts will help you better understand these policy types and the unique ways that they can benefit you and your specific car type.