Reasons You Must Have Insurance for Your Classic Car

If your vehicle is old and unique, it may qualify as a classic car. You should consider insuring it even though you may hardly drive the vehicle around. There are always unexpected dangers that may happen and without insurance, you could lose thousands of dollars. The independent agents in Johnstown, PA at Asset Planning Insurance Agency, LLC can help you get started with classic car insurance to protect your prized possession.

What is Considered a Classic Car?

To be considered a classic car, your vehicle would need to be at least 10 to 24 years old. It would also need to have enough historic interest that it could be considered a collectible. Your older model vehicle would also need to have limited usage. For example, it would not be used to drive to work, but it could be used to drive to a car show annually. Generally, the vehicle would need to be restored or under the restoration process to be considered a classic car.

Why Do You Need Classic Car Insurance?

Classic car insurance isn’t like your standard car insurance. It’s unique just like your car. With a standard policy, you have liability, comprehensive, and collision coverages. Although you can add these types of insurance coverages, having classic car insurance makes claims somewhat simpler. You and your insurance provider will agree on the total value of your vehicle and you will be able to collect that value if anything happens to your vehicle. Unlike All-Cash Value reimbursement, your cash payout will not be the depreciated amount or the current market value of the car.

Where to Purchase Classic Car Insurance?

You can stop by or contact one of the independent insurance agents at Asset Planning Insurance Agency, LLC in Johnstown, PA. We can help you decide what you need to make sure your classic car is protected.