Classic car owners all tend to have at least one thing in common: they want what’s best for their beloved vehicles. There are plenty of things that they can do to ensure that their classic cars remain in good condition, including keeping them clean and sheltered, offering proper maintenance, and taking out the right Classic Car Insurance Policy in Monroe MI. Read on for a brief introduction to classic car insurance below to get started finding the right policy.
Why Have Specialized Insurance?
Conventional car insurance covers vehicles up to their cash value. Classic car insurance, on the other hand, covers collectible vehicles for a guaranteed value mutually agreed upon before the policy is drawn up. The value of a classic car is generally determined according to respected collectible car valuation guides and professional appraisals; these vehicles tend to increase in value over time provided they are well cared for.
What is Classic Car Insurance?
There are several different types of policies available to car collectors. Classic cars are usually defined as those that are at least ten years old and have been restored to good working condition, though different companies have different inclusion requirements. Most of the time, insurers consider older cars to be collectible only if they have a greater value than other vehicles produced that year.
Every Classic Car Insurance Policy in Monroe MI is a little bit different. Some drivers carry extensive policies that cover everything from basic liability and collisions to coverage for spare parts and even auto show medical reimbursement. It’s important for classic car owners to speak with an insurance agent regarding their unique needs before taking out a policy and to be honest about where and how frequently their vehicles are displayed at shows, as this may affect what kind of coverage is required.
Get Started Now
Classic car owners should not neglect to consider specialized insurance policies on their vehicles. Those who are uncertain about whether or not they need classic car insurance or how much coverage they want should speak with a dedicated insurance agent who can help. Contact Insurance Center Of Monroe for additional information today to get started.
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