Crafting the Perfect Protection: Standard and Classic Car Auto Insurance
At AW Burchell Agency Inc. in New York, we understand the significance of protecting your vehicles, particularly classic cars. While newer vehicles are sought for everyday use, acquiring an older car often carries sentiments of nostalgia, taking you back to a simpler era. You’ve put in countless hours and a considerable investment to restore these unique vehicles, making them classically modern in their own way. When it comes to insuring your classic car, differentiating between standard and classic car insurance is essential.
Standard Auto Insurance vs Classic Car Auto Insurance Repairs
Standard auto insurance typically covers repairs at a standard body shop using similar parts in the event of an accident, but repairing a classic car after a covered accident presents unique challenges. Classic cars often require rare parts and may need to be repaired at a specialized shop. Moreover, these classic cars may incorporate custom spare parts, complicating the repair process further.
Value of Insurance
For standard auto insurance, the vehicle’s value is dictated based on its actual cash value as determined by the insurance company, which depreciates over time. However, with classic car insurance, the insurance value is determined based on the coverage amount you and the insured agreed upon. Furthermore, classic cars may appreciate in value over time, especially when custom restored. As a result, classic car insurance may cover repairs and restoration costs, which can often exceed those of a standard car.
Vehicle Usage
A standard car insurance policy typically covers vehicles intended for daily use. However, insurance policies usually place strict limitations on the annual mileage of classic cars. Given this, classic car insurance differs from standard auto insurance in multiple aspects, warranting a tailored approach to its coverage.
Reach Out for More Information
If you want to navigate classic and standard car insurance nuances, AW Burchell Agency Inc. in New York is here to help. If you have any questions or if you’re seeking the best coverage for your classic car, call us today at (607) 753-0633.
