As most InsureDirect.com Car Insurance Customers are aware, the agents and customer service personnel in our Home Office National Call Center in Lansdale, Pennsylvania receive the best customer service in the insurance industry. Where Auto Insurance and Homeowners/Renters Insurance products and service are our #1 products, InsureDirect.com has been insuring Classic Cars since near 1995. There are many different types of classic type vehicles and types of insurance coverage. Classic cars are similar to exotic cars; they offer great value to car enthusiasts and costs relatively expensive, but unfortunately not available to every richest and most affluent members of today’s society.
a.) Antiques – manufactured before the 20th century.
b.) Vintage – manufactured at the start of 1900s at between 1902 and 1933.
c.) Classics – cars manufactured for over 35 years old.
Each category has their own given conditions and Antique cars being the most expensive among them have the most identified conditions.
Basically, because of the significant value of some classic cars, they are either purchased second – hand and restored by hand or sometimes inherited. Some cars are so rare that if they incur heavy damages or even destroyed, it is impossible to neither repair nor replace them. Thus, classic car owners are more dependent on car insurance deals available that will give them substantial amount of money in compensation for the losses.
At times, because of the scarcity of classic cars, most insurance policies placed on them are personalized. In other hand, no standards are set to be followed and therefore they quite expensive or are very costly. In addition, it depends to the car owner who has to comply with the standards set by most insurance companies, not the other way. The following are the given requirements:
The car must not be the primary mode of transportation used by the customer or car owner.
· The car must be in perfect working condition at all times.
· The car must be old enough to be considered a classic car.
· The car can only be used to drive to certain exhibitions or club activities where the car’s presence is needed.
· The car must be stored in a safe, fully – enclosed garage which is kept locked at all times.
Since the specific policy you are trying to get is fully – personalized and customizable, you being the car owner have the option of going for Collision Coverage Protection and/or Comprehensive Policy Coverage.
Collision Coverage Protection denotes that the insurance company would offer reimbursement in case of an accident. To be detailed, in the case of an accident, the car insurance company will cover all expenses on damages, medical bills, and court costs.
Since your classic car will not be used as often as your ordinary car, chances of making an accident during the few times a year that you drive it to an exhibition are of fewer chances. To be on the safe side, it would be good to be insured in the unlikely case of an accident while if you are on the economical side, it would be better to take the risk and just being extra careful while driving.
Comprehensive Policy Coverage denotes that the company will offer reimbursement only for damages incurred that are not related to any collisions. There are 2 sub-types under this coverage:
- Location Coverage Protection covers the location where the car is stored. For example, if your garage is slowly losing its strength and a piece of wood drops from the ceiling smashing your windshield, the insurance company would pay for repair on damages done by the garage.
- Spare Parts Coverage refers to parts that are either stolen or just need replacement. To illustrate, if one of the diamond-engraved bolts of your car is stolen by a thrifty thief, the insurance company will be the one looking for a replacement or paying out an equivalent amount in money.
Because classic cars are rare, they are extremely expensive to insure and have much more terms and agreements than ordinary cars /automobiles. Since policies are not standard, it is essential that you read and research a lot about insuring these sorts of cars to avoid any unpleasant surprises when the unavoidable circumstances happen.
Michael E. Dortch
President & Managing Agent
Corporate Home Office
618 South Broad Street
Lansdale, Pennsylvania 19446
(800) 807-0762 ext. 602