If you are considering purchasing or have recently purchased a classic car in the Auburn or Opelika, AL area, it is vital that you purchase an insurance policy that covers the unique ownership aspects of a classic car. A specialist at Elliott & Associates Insurance would be happy to meet to discuss your classic car insurance needs.
The first consideration is the amount of coverage you will need. Unlike a traditional car policy that covers the actual value minus depreciation, a classic car typically increases in value over time. Under a classic car policy, you will work with your insurance specialist to come up with a mutually agreed upon value to insure.
Classic car coverage has many of the same coverages as a traditional policy such as liability, collision, and medical payments. However, there are some additional coverage options you need to consider. For example, under roadside assistance coverage, the policy should include flatbed towing to limit the damage in the event it needs to be towed.
Another important consideration while shopping for a classic car insurance policy is to make sure the types of activities you plan to engage in with the car are covered. Many insurers will not cover the car if you plan to use it as a primary vehicle such as using it to get to work. Insurers often restrict the number of miles one can put on the car each year. If you plan on attending an auto show that will exceed the limit, you will need to speak with your insurance specialists for additional coverage.
No matter if you are new or old to classic car ownership, it is vital to make sure your investment is protected. If you live in the Opelika, AL area, please reach out to an insurance expert at Elliott & Associates Insurance today!