Having a historic or classic vehicle comes with its own set of challenges, insurance included. Generally auto insurance covers the cost of the vehicle, so that the car can be replaced at no cost to the owner should something happen to it.
In the case of a classic car, this amount isn’t so easily determined. Because of the complexities that come with owning a historic vehicle many insurance companies offer classic car insurance. Let’s look a little bit closer at what classic car insurance is, what it covers, and where to get it.
What is Classic Car Insurance?
Classic auto insurance, or historic vehicle insurance is available to car owners who have collectible historic vehicles, which require a different type of coverage than normal automobiles.
Collectible historic cars are often valued at a different amount than the actual cost of the car, because they are collectible and their value appreciates over time.
In the case something should happen to the value of the car, this insurance covers not only the actual cost of parts or the vehicle, but the amount the car is valued at. This value is determined by an appraiser and agreed upon by both the owner and the insurance company.
Where Can I Get Insurance for My Historic Vehicle?
As with any insurance it is important to shop around for the best policy for you and you car, however with classic auto insurance it is especially important. Because of the potentially high value and irreplaceable nature of classic cars having a good policy with a company you trust is essential.
While most auto insurance companies will cover historic vehicles, it is important to work with a company that specializes in them. At Freedom Insurance Agency we specialize in all types of insurance. We’d love to speak with you about your coverage options and what policies we offer.
We are a local insurance agency offering auto insurance in Maryland for personal vehicles, exotic vehicles, and historic vehicles. To discuss your historic vehicle and how we can help you, give us a call at Freedom Insurance today, we’d love to help you get your car on the road with peace of mind!
