You’ve invested a lot of time and money into your classic car. Whether you’re driving it on the open road or keeping it in mint condition in a garage, you want to ensure it’s adequately protected in case of an accident or theft. That’s where classic car insurance comes in.
What is Classic Car Insurance?
Classic car insurance protects your investment and gives you peace of mind knowing your vehicle is adequately covered. It’s like regular auto insurance, but with some crucial differences. For example, classic car insurance has a lower premium since the vehicles are not used as often and are typically driven fewer miles than a regular car.
Another difference is that classic cars may appreciate over time, so it’s essential to have an insurance policy that considers this. Many regular auto insurance policies have a stated value, which means if your car is totaled, you can only receive the current market value of the vehicle – not what you paid for it or what it’s worth to you.
What is Guaranteed Value?
Classic car insurance uses guaranteed value, which means you’re reimbursed for the total value of your car in the event it’s totaled. This is important because classic cars often appreciate value, so you want to ensure you’re covered for what it’s worth – not just its current market value. Lee Insurance Agency LLC in North Carolina can help you determine the correct value for your car.
Why You Need Classic Car Coverage
Classic car insurance is not required by law, but it’s a good idea if you want to protect your investment. It can also give you peace of mind knowing you’re covered in case of an accident or theft.
The classic car insurance experts at Lee Insurance Agency LLC in North Carolina can help you find the right policy for your needs. Contact us today to get started!