How Does Classic Car Insurance Differ from Personal Auto Insurance

For many, owning a classic car is the fulfillment of a lifelong dream. As a result, you want to ensure that your beautiful vehicle is covered to the fullest extent possible so that if an accident occurs you can recover from the loss quickly and with as little monetary loss as possible. While you can certainly use personal auto insurance to cover classic vehicles, personal policies are not designed to account for the appreciation that many collector cars have. For example, personal auto policies take depreciation into account which means that if you own the vehicle for three years and are in a total loss accident the insurance company will not pay you sticker price. With classic car insurance, you’ll work directly with your agent or the company to determine the actual value of your vehicle so that if an accident does happen the insurance company will take the collector status into account. To qualify as a classic or collectible car, the vehicle must be at least 25 years old and be appreciating in value. If the vehicle is less than 25 years old then it must be considered rare or exotic and have significant appreciation in value. 

Outside of that key difference, classic car insurance offers the same coverage options as traditional auto insurance with everything from comprehensive to liability to uninsured motorist coverage. Shopping for classic car insurance doesn’t have to be stressful and by leveraging the talented and friendly team at Curtis Miller Insurance in Parkersburg, WV you’ll rest easy knowing that we’ll do the hard work to find you the perfect policy for your needs without breaking the bank. When your classic car needs protection, give us a call to schedule an initial consultation to discuss your needs and coverage options.