Classic Car Insurance
For some, investing in classic cars is an investment in nostalgia. It’s recapturing that first love with a beautiful car, celebrating the roar of an engine, or even taking a walk down memory lane as you restore your first car. Whether you’re recapturing a lost love or fulfilling a lifelong wish, you want to protect your investment of time, energy, and attention to detail with classic car insurance that will do your beautiful machine justice should disaster strike.
Special Insurance Needs for Classic Automobiles
Insurance Center of North Jersey understands that this car is your baby. We also understand that classic cars present unique risks and challenges when it comes to repairing them. Not only do they draw attention wherever they go, making them an accident risk on the road, but they are also frequently targeted by thieves.
With these, and other unique insurance needs, it is more important than ever to make sure you work with an insurance agency that has experience dealing with the unique classic collectors insurance coverage needs classic cars represent. These are a few coverage types you’ll specifically want to consider for your classic ride.
Spare Parts Coverage
Parts for classic cars are increasingly in short supply. This makes them valuable investments that many owners like to have backups of on hand. This coverage deals with parts that may be stored in your garage, or taken on the road with you to shows – just in case. Standard agreed value limits are set up, though most policies will allow you to purchase additional coverage if desired.
Original Replacement Parts Coverage
Classic car owners who are passionate about authenticity will insist on nothing less than original replacement parts whenever it is possible. These parts can be quite rare and costly. Purchasing original replacement parts coverage means you won’t have to sacrifice authenticity in order to afford replacements if your car is damaged.
Agreed Upon Value
The challenge with classic cars and insurance is that the value of the car, due to restorations and sentiment, is greater than what the value of the car on paper represents. Depreciation takes a toll on the dollar signs assigned to your vehicle by insurance adjusters. They don’t even take into account the investment you’ve made in restoring your car to its former glory.
You will need to opt for an agreed upon coverage amount rather than relying on the value assigned to your car. Take into account the amount of money you’ve invested in paint, parts, seats, tires, and even the radio to get it into shape and include those things in the value you determine.
Flexible Use Coverage
You didn’t invest all that time, money, and energy into your classic car to leave it in the garage. Unfortunately, some classic car insurance policies feel it is safer to do just that. Make sure you have enough flexibility to take your car on the road for car shows, exhibitions, and other events – including the occasional weekend rides. Don’t rope yourself into a policy that has mileage limits that are overly restrictive just because of its good rates.
What Kinds of Cars Need Classic Car Insurance?
It’s not a matter of only how old your classic car is. Any car that qualifies as a classic car and that you’ve restored, or are in the process of restoring, to mint condition needs that specific type of protection classic car insurance provides. This includes:
- Antique Cars
- Low Riders
- Muscle Cars
- Street Rods
- Hot Rods
- Vintage Vehicles
- Military Vehicles
- Classic Motorcycles
- High Quality Classic Car Replicas