Collector car insurance policies are specifically designed for classic and antique vehicles. Classic car insurance covers a wider range of vehicles, usually requiring that the car is over a certain age, driven a limited number of miles each year, and kept in good running condition.
Agreed Value or Appraised Value Policies:
With an agreed value or appraised value policy, the insurance company sets the value of the classic car up front, based on current market conditions. It ensures full coverage, without an upper limit and eliminates risk of depreciation issues in a total loss.
Specialty Insurers: Companies providing collector car insurance specialize in unique and highly valued automobiles.
Umbrella Liability Policies: Some specialty carriers are partnering with standard umbrella or general liability providers to cater to the specialized auto market.
Consult experts in classic car insurance or reach out to agents and companies focused on collectible vehicles to ensure appropriate coverage at fair premiums.
