Classic Car Insurance in Hammonton, NJ
Classic car insurance is tailored specifically for vintage, antique and collectible automobiles. These cherished vehicles hold significant sentimental value, distinguishing them from regular cars. This type of insurance also acknowledges the careful maintenance and limited usage that owners invest in their classic cars, offering protection against damages, theft and accidents. Classic car insurance can provide enthusiasts with peace of mind, knowing that their prized possessions are protected by a policy that comprehensively addresses the requirements and risks associated with vintage automobiles.
How Does Classic Car Insurance Work?
Classic car insurance is a contract between the policyholder and an insurance company. As long as you pay your premium, the insurance provider agrees to help pay for covered losses outlined in your policy for the duration of its term.
A classic car insurance policy can be similar to a standard auto policy, but some important differences exist. For instance, your classic car cannot be your daily driver under this coverage. Another difference is that classic car insurance has the added benefit of covering your vehicle for its agreed value instead of actual cash value, which can depreciate. “Agreed value” means you and the insurance company discuss how much the car is worth and agree on a coverage amount. This may help ensure you’re adequately compensated if something happens to your classic car. You may also adjust your agreed-value coverage level with the insurer if the car’s value changes, such as with additional modifications.
Other key differences exist between classic car insurance and a typical auto policy. Namely, your car must meet certain criteria to qualify for this specialized coverage. Depending on the insurer, these may include the vehicle’s age, how it’s stored, how often it’s used and other factors.
Your agent can help determine whether your vehicle qualifies for classic car insurance or if a standard auto policy may better suit your circumstances.
What Does Classic Car Insurance Cover?
A classic car insurance policy may include or offer the following coverages:
- Bodily injury liability coverage may help cover injuries the covered driver causes to someone else in an auto accident.
- Property damage liability may help pay for damage caused to someone else’s property in an accident.
- Collision coverage may help pay for damage to the covered driver’s car resulting from a collision with another car or object.
- Comprehensive coverage may help reimburse losses due to a covered event that isn’t a collision. This might include fire, falling objects, windstorms, hail, vandalism and damage from wildlife.
- Roadside assistance is usually an add-on coverage option for classic cars and may include flatbed towing with soft straps.
After How Many Years Is a Car Considered Classic?
Typically, a vehicle is considered classic if it is over 10 years old; however, an insurer may have its own criteria for recognizing a vehicle as a classic. Additionally, states may have rules for defining classic cars, including weight, usage and manufacturing.
How Do You Get Classic Car Insurance?
Contact ML Ruberton Agency to discuss your classic car insurance needs. We can help you get the coverage necessary for your specific vehicle.