Whether you’ve got one classic rod or dozens of them, it’s important to ensure all your collectible vehicles are fully insured.
Insuring valuables is usually a straightforward process. But, what if your valuables have wheels and hit the open road? If you’re an automotive enthusiast, you know this insurance struggle all too well. Whether you collect exotic supercars or antique hot rods, it’s important to consider how you’re insuring your collectible vehicles.
With the help of The Cincinnati Insurance Companies, learn more about the benefits that come with insuring your property damage coverage on a personal articles policy and discover key questions to discuss with your insurance rep.
INSURANCE CONSIDERATIONS
As a serious antique car collector, you may display some of these vehicles in your personal garage, or you may even drive some only occasionally.
With your personal usage in mind, ask yourself:
- How do I properly insure these vehicles?
- What are my coverage options for physical damage and liability?
- Should I add them to my personal auto policy even if I do not drive them?
- Do I need a collector car policy from a specialty carrier?
Many coverage options are available for insuring your automobile collection. Some insurance companies may offer a separate policy while some add the collection to an existing auto policy. Each option has its pros and cons. As an owner, you are looking for something that treats these vehicles like the pieces of artwork you know they are.
COVERAGE OPTIONS
When discussing options with your agent, you need to consider a few coverages. Review each option and ask about:
- Agreed value. Coverage is provided for a pre-determined amount agreed upon by both the insured and the insurance company. Ask yourself, “Does this policy provide me with the peace of mind knowing that in a covered total loss, I will receive the full agreed value of the vehicle?”
- Glass. Does the policy provide coverage for the windshield and other vehicle glass? No matter how many coats of wax you carefully apply to the paint, your windshield could be damaged by rocks and road debris that can fly up and cause damage.
- Spare parts. You might have an assortment of difficult-to-source and expensive spare parts for your auto. Is there coverage for these? You want to make sure that these often pricey components are insured.
- New acquisitions. You’ve just purchased a vehicle from an auction on a Saturday, and the last thing on your mind is calling your agent to add this vehicle. Is automatic coverage included for a vehicle that you’ve just purchased?
- Roadside service. With classic motoring, breakdowns sometimes occur. Is roadside service included to ensure your vehicle makes it home safe?
Car insurance for classic cars is often the last thing on anyone’s mind when they purchase a new automobile to add to their collection. But, by scheduling your auto collection on a personal articles policy, you can get the best property damage coverage available.
The folks at The Feltner Group understand that you enjoy the ride more when you know the vehicle is covered to its full value. We invite you to reach out for more information regarding car insurance for classic cars if you’re considering growing your collection – we’d love to help you secure the best coverage at the best possible rate.