Standard auto insurance isn’t typically enough for those who own a classic automobile. Such an automobile tends to be more valuable while also holding a lot of emotional value for the vehicle owner.
There are numerous factors that make classic auto insurance unique from standard auto insurance. The following are three unique factors:
Classic auto insurance usually reimburses for the full or “guaranteed” value of the vehicle in the event of a total loss.
A standard auto insurance policy won’t necessarily cover a vehicle for its total value in the event that it is completely destroyed in an accident. On the other hand, a typical classic auto insurance policy will usually cover the vehicle for its full, guaranteed value. This value is usually mutually agreed upon by the vehicle owner and the insurance company at the time that the policy is purchased
A classic car insurance policy typically covers a vehicle that is between 19 and 24 years old.
With most insurance providers, a vehicle that falls in between 19 and 24 years old should be covered under a classic auto insurance policy. On the other hand, an older vehicle would be covered under a policy specifically designated as an “antique” auto insurance policy.
Another common type of auto insurance policy for collectors is the modified car insurance policy. This is used for vehicles that have been heavily altered by the owner in terms of their engine, chassis, interior, or another factor.
Additional features included in classic auto insurance include Auto Show Medical Reimbursement and No Attendance Required features.
There are numerous unique options available for classic auto insurance. Two examples are auto show medical reimbursement and no attendance required features.
Auto show medical reimbursement provides coverage for damages when an accident is caused by a vehicle in the events of an auto show. No attendance required means that the policy will cover damages even when the vehicle owned isn’t present when the accident occurs.
If you are looking for a classic auto insurance policy for your vehicle, contact us at Vargas & Vargas Insurance to learn more about the policies we offer for vehicle owners in Dorchester, MA.
