Classic & Collector Car Insurance traditionally functions like an Auto Insurance Policy. You have your standard coverages such as Property Damage & Bodily Insurance Liability, Underinsured/Uninsured Liability, Comprehensive, Collision, and Medical Payments. However, there are some “tweaks” you need to be aware of.

Frequently Asked Questions About Classic & Collector Car Insurance

A determination is based on age, vehicle type, miles driven annually, good driving records, and not a vehicle operated daily.

First and foremost, your vehicle will be covered at a “stated amount”. This basically means that depreciation will not be a factor in the claim payment process. This is a significant advantage over a traditional Auto Insurance policy. The premiums are much lower compared to an Auto Insurance policy. In the event of a claim, the claims adjuster is specifically trained in Classic & Collector Car valuations.

No, this coverage is substantially cheaper than a personal Auto Insurance policy. The average policy will generally cost $300 a year. However, if you have a Bugatti, the coverage will cost more.

You must find an agent that represents a Collector Car Insurance Company. Your agent should be familiar with insuring these types of vehicles, and help you determine an insured value.

Most Collector Car Insurance companies will insure these items as well. The same underwriting requirements and coverage options will apply.