Insure Your Classic Car
You've spent a lot of time, effort and money to restore that classic 1958 Chevy (They just didn't get any better, IMHO, except for the 1962 Impala Super Sport, perhaps. Now you want to drive it a few times a year in the local July 4th or Memorial Day parades with a beauty queen in it, don't you? But the insurance requirements for such a car are different than for your everyday ride.
Is your “classic” enough to get qualify for special insurance. This classic car insurer offers a good list of what qualifies and does not.
Insurance blogger (it takes all kinds) VehicleInsurance blogger MarkFMD has pointers for you: He says the major difference between classic car insurance and regular car insurance is of the value paid for the car in case of a total loss situation. Classic car insurance works on “Agreed Value,” which means compensation based on a pre-agreed value. Regular car insurance pays the Actual Cash Value or the Standard Value. You will have to get the car appraised.
One good thing about classic car insurance: There is generally no deductible on a total loss situation.
Comments
This post will definitely helpful for those you have classic cars. Hagerty.com is very good resource with helpful information, thank you again for sharing.