It is important to check to make sure the comprehensive coverage is adequate on a vintage vehicle.
Though it may appear as though classic car insurance is pretty much the same thing as a regular vehicle policy, it is important for the owners of these automobiles to recognize that the typical comprehensive coverage may not be enough if disaster should strike.
Specialty coverage can be very affordable and will be worth it in the event of an accident.
Many agents are also advising owners to look into policies that are being sold as classic car insurance, as those may also not be enough, depending on the type of vehicle and how much it would cost to repair, rebuild, or replace it.
For this reason, it is important to speak with an agent about classic car insurance coverage.
Preferably, this means an agent who has some knowledge about this type of policy and about covering vehicles of this nature. Consider the following elements to make sure that the classic car insurance policy that you have for your special vehicle will provide the comprehensive protection that you need if the worst should ever happen.
• It is a common practice for insurers to offer third party fire and theft, or third party cover instead of complete comprehensive coverage. If you want the highest amount of coverage – for a vintage vehicle that is regularly used or that has a high value, for example – then you might want to look into other companies that have this option available.
• Make sure that you agree upon the value of your vehicle before taking out the classic car insurance policy. Many insurers will provide only the vehicle’s market value if it is ever totaled, which may not actually reflect the worth of the vehicle. Make sure to document this agreement and keep a written record of it in a safe place where you will be able to find it should it ever be needed. If the vehicle is ever crashed or vandalized, this may be more beneficial than you think, even if it means that your premiums will be slightly higher.
• Look into the classic car insurance policy’s replacement part details. If you have a vintage vehicle that is worth a high value, then the odds are that you will want authentic parts, and you will want them to be covered by your policy.
