Are you Paying too Much for your Classic Car Insurance?
If you are covering your antique or classic car under a regular insurance policy, you may be paying too much. Most people don’t use their antique cars every day and so are better off getting a policy which is geared towards an antique car and which costs them a lot less.
2. It makes far more sense to find a specialist such as:•American Collectors Insurance•HagertyInsurance•Grundy Insurance.USAInsuranceBuzz.com 3. Insurance companies make the distinction between old, classicand antiquecars.USAInsuranceBuzz.com 4. Classiccars are between 15 and 30 years old and something of special worth to a collector.USAInsuranceBuzz.com 5. Antique cars are over 30 years old, have historic plates and can only be driven as part of a show.USAInsuranceBuzz.com 6. There are three types of insurance policy for an antique or classic car:•Actual cash value(ACV)•Agreed value(AV)•Stated value(SV).USAInsuranceBuzz.com 7. With an actual cash valuepolicy, the value is set to match that of the car at the time of being insured. (This value decreases with time.)USAInsuranceBuzz.com 8. With the stated valuepolicy, the insurance pays either the cost of the damage to the vehicle or the ACV (whichever is the lower).USAInsuranceBuzz.com 9. With the agreed valuepolicy (the best of the three), you are guaranteed the sum agreed on the current agreed valuation certificate.USAInsuranceBuzz.com 10. The valuation process includes the car becoming officially recorded with a list other cars that are considered to be under that same value bracket.USAInsuranceBuzz.com 11. To select a suitable appraiser, you can contact the American Society of Appraisers.USAInsuranceBuzz.com 12. The appraiser checks the vehicle thoroughly before producing a detailed report.USAInsuranceBuzz.com 13. In addition to the valuation certificate, the insurance company will need to know the make, color, model, body style, year, engine numberand vehicle identification number(or VIN).USAInsuranceBuzz.com 14. Insuring your classic or antique car with a specialist is the best way of addressing all the concerns you have about your vehicle.USAInsuranceBuzz.com 15. www.USA Insurance Buzz.com
- 1. If you cover a classic or antique car with a regular insurance policy, you may be wasting cash.USAInsuranceBuzz.com