Whether you want to own an old school Ford Mustang or a Ferrari, the one commonality shared by these aficionados is their love for classic cars. Given the investment that is needed to purchase a classic car and the upkeep required, protecting that vehicle from damage is imperative. Traditional auto insurance can cover classic cars, but it typically will not cover the entire value of the vehicle if is deemed a total loss. With classic car insurance, you’ll work directly with the insurance agent or company to determine the restored value of your vehicle so that if something happens, you’ll be covered for the full cost.
Not every vehicle will classify as a classic car and it generally needs to be one that is used only for pleasure driving or exhibiting at car shows. Expect to need to present proof that your classic car is not your daily driver when it comes time for underwriting. Additionally, only vehicles that are 25 years or older and is appreciating in value classify as antiques - unless you obtain a special waiver. Like personal auto insurance, classic car insurance policies will cover liability, collision, comprehensive, medical payments, and uninsured/underinsured motorists. Most importantly, unlike traditional auto insurance that determines total loss payout based on the actual cash value which includes depreciation, your classic car will be covered by agreed value which often includes an independent evaluation of the vehicle to determine a fair value.
At D & E Insurance Agency in Muskogee, OK we are ready to help you insure your classic vehicle. Serving the state of Oklahoma for years, our friendly and talented team of insurance professionals will work tirelessly to find you the perfect policy for your needs so give us a call and schedule a consultation.