| People who own and drive collector cars have | | | | owners of the company are car enthusiasts or |
| different needs for their collector car insurance | | | | collectors themselves. They realize how much |
| than they have for their cars that are driven | | | | your collector car means to you, and they |
| every day. A collectible car is by definition | | | | understand the importance of the car being |
| "special", and so it has special considerations to | | | | repaired correctly so that it retains its value. |
| take into account when it comes to insurance. | | | | When presented with a claim they will give you |
| Your everyday insurance provider that insures | | | | much less argument and more leeway to get |
| the vehicle you drive to work is accustomed to | | | | your car repaired the right way the first time. |
| dealing with claims on modern cars that | | | | Benefit # 4: Repair Shop Of Choice - Many |
| depreciate in value as they age, and the average | | | | everyday insurance companies will only pay a set |
| owner doesn't notice the difference between a | | | | rate for collision repair at a high-volume body shop |
| $2000 paint job and a $10,000 paint job. A | | | | that does average-quality work on modern cars. |
| company that specializes in collector auto | | | | If you take your car to a shop that specializes in |
| insurance has several key benefits to offer the | | | | restoration work, you may be left footing the bill |
| collectible car owner. | | | | for the difference in cost. Many antique car |
| Benefit # 1: Lower Premiums - A collector car is | | | | insurance companies will allow you to take your |
| normally only driven on a limited basis, stored | | | | car to a specialty repair shop, and they will pay |
| indoors, not driven in bad weather, and generally | | | | what it costs to have the car repaired the right |
| leads a "babied" life. Most classic car insurance | | | | way by a craftsman that is skilled in restoration |
| companies are also somewhat selective in who | | | | work. |
| they will insure. These two factors allow the | | | | Benefit # 5: OE Parts - On a similar note, many |
| classic car insurance company to charge much | | | | everyday insurance companies will only pay for |
| lower premiums than conventional insurance | | | | less expensive aftermarket repair parts. Using |
| companies, because they know that the | | | | non-original parts can reduce the value of your |
| collector's car is less likely to be in an accident. | | | | vintage car considerably, as they may not fit as |
| Benefit # 2: Agreed Value Coverage - Most | | | | well as original equipment parts and an all-original |
| classic car insurance companies offer an Agreed | | | | car is always worth more. Many specialty |
| Value policy, which means that you come to an | | | | insurance providers allow for the higher cost of |
| agreement with the insurance company on what | | | | using original equipment parts. |
| your vehicle is worth before the policy is written. | | | | Benefit # 6: Perks and Special Situations - Some |
| If you have a total loss accident or theft, an | | | | collector car insurance companies offer many |
| Agreed Value policy will reimburse the total | | | | other types of benefits, such as coverage for |
| amount that was agreed upon when the policy | | | | spare parts, memorabilia, tools, car trailers, |
| was initiated. Very few conventional insurance | | | | coverage for overseas transport, etc. Some even |
| companies offer a true "Agreed Value" policy. | | | | offer medical coverage for personal injuries that |
| They offer a "Stated Value" or "Stated Amount" | | | | occur at car shows, and "event disruption" |
| policy has a clause that allows them to only pay | | | | insurance that reimburse car show entry fees and |
| what they "think" the car was worth, and it | | | | non-refundable hotel deposits if you miss an event |
| makes the assumption that your collector car is | | | | due to a mechanical breakdown on the way there! |
| depreciating like a typical used car! | | | | All in all, specialty collector car insurance |
| Benefit # 3: They Understand Your Needs - | | | | companies have a lot of advantages for the |
| Specialty collector car insurance companies | | | | classic car owner. If you own and drive a collector |
| understand your needs better than a typical | | | | vehicle, you will find that an everyday insurance |
| insurance provider does because in many cases | | | | policy from an everyday insurance company is |
| the insurance agents and possibly even the | | | | severely lacking in comparison. |