Owning a collectible vehicle can often seem like a never-ending parade of expenses. Once you’ve gone through the process of restoration, you still have plenty of money to spend on maintenance, storage and hard-to-find replacement parts. As an enthusiast, you gladly put up with these costs out of love for your hobby, but it’s also important to protect your investment. A classic car insurance policy is the best option to safeguard your vintage automobile, and here are two major benefits.
Since you don’t use your vintage vehicle for day-to-day driving, the likelihood of an accident dramatically diminishes. Because of this, insurers are able to offer much lower premiums to cover things like collision damage and liability. Don’t make the costly mistake of adding your collectible automobile to your normal insurance policy.
Set an Agreed Value
When you sign up for classic car insurance, you have the option of working with your agent to set an agreed value for your vehicle. This means that if you suffer a loss, you’ll get the full value of the policy without other factors like depreciation interfering with your settlement amount.
While these are two of the biggest benefits that come with these specialty policies, there are other advantages to consider. Some policies even offer perks like roadside assistance and coverage for expensive replacement parts. Whatever reason strikes your fancy, classic car insurance is the best way to protect your investment.