Click to CallWhether you own a vintage Corvette or a fast and furious Dodge Viper, the chances are that you want to protect your coveted collector vehicle. This likely means that your classic car is babied by being stored inside, only driven in nice weather, and kept away from the public eye. Given the investment made in purchasing, restoring, and maintaining a classic car, you must have peace of mind by knowing that the vehicle is covered no matter what type of accident occurs. While traditional auto insurance covers the vast majority of new and used cars available today, it does not provide appropriate protection for collector vehicles. Consequently, classic car insurance is specially designed for collector vehicles and offers extra peace of mind.
With normal auto insurance, your vehicle is covered to what is known as its actual cash value, which is the cost to replace the vehicle minus depreciation. Conversely, classic car insurance covers your vehicle at a mutually agreed or guaranteed value that considers the equity that the vehicle has. Since collector cars increase in value over time, the guaranteed cash value provides higher upside and greater protection should an accident occur. Keep in mind that not every vehicle will qualify as a collector car, with the general requirement being that it be at least 20 years old; however, exceptions do exist.
At Vance Insurance Group LLC in Oklahoma City, OK, we’ll work with you to determine a mutually acceptable value for your classic car that is fair to all parties and provide a seamless process before, during, and after opening an insurance policy with us. Give our team at Vance Insurance Group LLC in Oklahoma City, OK a call today to learn more about our classic car insurance options.
