High-quality classic car insurance can protect your amazing vehicle investment, but what exactly does this coverage entail and how can it help you? Let’s take an in-depth look into this coverage to discover what benefits it provides. Whether you currently own a varied car collection or you’re interested in making your first vintage auto purchase, it’s essential that you know these important facts.
Car Value Can Increase
When you insure your classic car, you’re making sure it’s safe from various types of damage, but what happens as your vehicle ages? Vintage or classic cars are simply not valued like normal vehicles are. According to Top Speed, a vintage car value saw a 25% appreciation in the last year. Your insurance must be scaled appropriately and you must prioritize adding more protection as you need it.
Classic Cars Vary
Everybody has a different definition of what qualifies as a classic car. According to the Classic Car Club of America, a classic car is anything manufactured between 1915 and 1948, but this can vary dramatically. In regards to insurance coverage, this concept has a clear definition. According to Nationwide Mutual Insurance Company, a classic car is at least 20 years old but not more than 40 years old.
Covered Vehicles
When buying classic car insurance, it’s critical to know more about what exactly gets covered. By that, we mean vehicles like antiques, classic military cars, tractors, exotic vehicles, kit cars, muscle vehicles, and more. Pay attention to your car’s listing and speak with your insurance agent, if necessary. Picking a policy that suits your situation is vital.
Coverage Types for Your Cars
Classic car policies can cover liability problems (vehicle damage or collision injuries), collision policies, and uninsured coverage (when someone without insurance damages your car). It’s essential to get all these policies. They protect you and your investment from severe issues.
Buying classic car insurance can protect your investment and minimize problems that may arise with this valuable auto asset. You deserve that kind of support, as does your car. Please don’t hesitate to contact AOA West Insurance to get started! Our team will provide high-quality support that makes sense for your needs and provide you with a policy that fits your budget.