Coverage disputes: These disputes often arise when an insured classic car is damaged or stolen and the insurance company denies coverage. The insurance company may argue that the car is not a "classic car" according to the policy definition, or that the damage or theft was not covered under the policy.
Valuation disputes: Classic cars are often valuable assets, and disagreements can arise over their value in the event of a total loss. The insurance company may offer a settlement amount that the insured believes is too low, leading to a valuation dispute.
Subrogation actions: If an insurance company pays a claim for damage to a classic car, it may have a legal right to pursue the at-fault party for reimbursement. This process is known as subrogation, and the insurance company may need to take legal action if the third party refuses to pay.
