The book definition of a classic car is a vehicle that is between 10-24 years old, and is considered a rare model because of the exceptional artistry done to the look of the vehicle's exterior and interior. Enthusiasts of these cars from yesteryear feel they're a special breed of automobile.
Purchasing a classic car such as a 1964 Pontiac GTO or a 1967 Volkswagen Van can be an expensive proposition. Classic car owners want to do everything possible to protect their investment, so it's important to have the right insurance coverage from Newman Insurance Agency, Inc. in Mississippi to shield their possession.
The Value of a Classic Car
Instead of depreciating, classic cars typically maintain or rise in value. For this reason, they have their own separate insurance policy. The condition of the automobile must fall under three categories (restored, maintained or preserved) to be considered for coverage. If not, then an insurer might decline your request.
The overall cost of a classic car insurance policy is quite surprisingly cheaper than conventional automobiles. Why? Well, you drive these vehicles less in a given year, so the premium naturally becomes lower.
The Do's and Don'ts of a Classic Car Insurance Policy
The language found inside the policy may require owners to use their prize possession more as an attraction at public events instead of their main vehicle. The details of the agreement will include strict guidelines in how the vehicle can be showcased at local classic car shows or participation in parades.
The policy may require the transportation of the automobile take place via an enclosed trailer rather than driving to the event. Safeguarding your classic car from the elements of the weather is always recommended. It's smart to store the automobile in a secured garage or storage facility.
Get Clarification of the Policy's Terminology
If you're unsure of certain terminology inside the classic car insurance policy, then ask your provider for some clarification. We should be able to explain the policy in full, which avoids further confusion on your part.
It's important to shop around for different classic car insurance quotes before selecting a coverage type that fits best with your requirements. Newman Insurance Agency, Inc. can help you gain a policy that offers flexible mileage limits, extended coverage for restoration repairs, and shipment protection. Our knowledge of classic cars provides an opportunity to get reliable coverage from an experienced agency. Reach out to us for questions and concerns.