Of all things that people miss lasting for several years, cars are among the top. Though never technically an investment, there was a time when your purchase could carry you from Point A to Point B for decades. If you happen to find a car from a golden era or one that lasts well beyond its expected lifespan, how do you protect it? The Northeast Insurance Advisors LLC of Easton, PA can help.
To meet the general criteria for Pennsylvania classic car insurance, your vehicle must be a vehicle over 10 years old that is of historic interest (hot rod., muscle cars, etc.).
Since this is a specialized form of coverage, it is not unusual to be expected that the car is kept in outstanding condition. Additionally, it is often stipulated that the use of the car be limited to special occasions, such as auto shows and meetings. It is also usually required that the car be kept in an enclosed, secured structure when not in use. A clean driving record also helps.
There are differences in a classic car policy over a typical policy, due to the value of these vehicles being so subjective to opinion. This creates special considerations for each policy.
Since much of the value of classic muscle cars exists due to a specialized market agreeing that these cars are more valuable, this “agreed value” coverage protects a full and fair value that was agreed to by the policyholder in the event of a total loss. By comparison, traditional insurance offers “actual value” coverage, which is often reduced based on age and mileage.
While most insurance coverage requires the use of select body shops or the least expensive among three quotes, Pennsylvania classic car insurance can be written to permit specialist auto-body shops.
Classic cars are special and deserve special coverage. A professional with Northeast Insurance Advisors LLC of Easton, PA can help ensure your classic car has the protection it needs.
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