Antique Auto Insurance
For collectors, antique auto insurance offers valuable protection for a treasured and lovingly restored asset. Collectible automobiles can require a large investment of time, labor, and money. Enthusiasts know that making sure that this investment is protected from theft, damage, or loss is extremely important. But what owners may not know is that insuring this valued asset requires specific types of policies that may offer a variety of features and benefits. Basic home owner's insurance will most likely not offer the fullest protection that an asset of this nature will require. Household accidents that harm the vehicle or even damage due to natural disasters such as earthquakes or floods are not generally covered by a basic home owner's policy. Policies that are specifically geared toward the needs of vehicles that are classified as collectibles or antiques are needed. The features of antique auto insurance can vary, but will often offer such features as single liability charges for multiple vehicles and coverage for auto show related damages. Many companies will allow clients to sign off on the value that is assigned to the vehicle, or to choose the dollar amount of the coverage that is purchased rather than having an arbitrary number assigned by a claims adjuster. Some policies will only cover the vehicle when it is driven at car shows while others will allow clients a certain amount of leisure driving. Because the needs of each collectible automobile owner will vary, clients should carefully review the features of any policy with an insurance agent before making a final decision on coverage.
The features of antique auto insurance policies can generally be tailored to fit the needs of the client and the vehicle involved. Since these cars will not depreciate in the same way that ordinary vehicles do, the value of the automobile will be established by an agreement between the client and the insurer. In some cases, inflation may even be accounted for through an inflation guard clause. This clause will automatically increase the dollar value of coverage by an agreed upon percentage rate each quarter. With most policies, there are no deductibles that apply when a claim is filed. Coverage for such needs as spare parts as well as thirty day coverage for new acquisitions to a collection are widely offered. Some policies might carry driving restrictions that allow owners to only drive the antique car during parades or auto shows. Others are more flexible and will allow owners to enjoy driving their restored vehicle for additional recreational needs. There are certain qualifications that may apply with antique auto insurance. The age of the automobile is obviously considered. Most policies may require that the vehicle be at least fifteen to twenty five years old or older. Other policies may require that the vehicle be kept in a locked and fully enclosed storage building. Any cars that are used for general transportation will not qualify for these specialty policies. The types of vehicles that may be covered by antique or collectible insurance agreements could include street rods, military vehicles, professionally built replica cars, classic cars, custom vehicles, collector trucks, muscle cars, and antique automobiles.
In addition to traditional antique auto insurance, there are many policies that apply to more specific needs. For example, some collectors enjoy traveling overseas with their treasured vehicle to attend car tours and events. These collectors require a more specialized insurance product. Coverage for overseas travel can protect an automobile during ocean cargo transport. Once a vehicle has arrived at its destination, coverage that complies with the laws of the host country is necessary. An informed agent can help a client determine what kind of coverage will best suit their overseas travel needs. Conversely, visitors to the United States may need coverage for their collectible vehicles while they are here for tours and events in this country. Specialized policies that offer protection against theft, vandalism, fire or collision will be required. This antique auto insurance is temporary and may last for up to sixty days. Collectors of classic cars are often members of car clubs. These clubs may require specific protection and can generally find agencies that can help them create a policy that best fits the organization's needs. Clubs may need protection for such issues as lawsuits that could result from damage to property or bodily injury at a club sponsored event. Other specialized policies could include coverage for an ongoing restoration project, or for classic vehicles that are used for business purposes.
Additional antique auto insurance may be needed for collectors who desire coverage for such issues as roadside assistance, towing or lost key return. Not all policies will cover the personal effects that may have been left inside a car that was destroyed or stolen. Riders that will handle these expenses can usually be added to any policy. Insurance coverage can bring a certain amount of peace of mind for owners of classic cars. According to the Bible, God Himself provides comfort and protection from fear for the believer. "Yea, though I walk through the valley of the shadow of death, I will fear no evil: for thou art with me; thy rod and thy staff they comfort me." (Psalm 23:4)
When purchasing antique auto insurance, there are certain features to keep in mind. What are the user restrictions that apply with the policy that is being considered? Is the value that is assigned to the car stated by the agency or mutually agreed to between the agency and the client? Are there any parking or storage restrictions that the collector may struggle to fulfill? Obtaining the right coverage for such treasured assets is important and will require a certain amount of research and diligence on the part of the classic car collector.
Antique Automobile InsuranceAntique automobile insurance is available on the Internet, but an owner has to look through quite a few websites of those who claim to cover antique cars to find one that actually does that. The companies who do offer antique car insurance have a different attitude toward these valuable collectibles, including having certain requirements for the coverage they offer. They cover vehicles used for exhibitions, club activities, parades, and other public functions. Cars covered by antique car insurance are never used for ordinary family activities like going to work or school, vacations, or running errands. The companies require the vehicle be kept safe in a covered garage, and whenever it is in use at one of the functions mentioned above, it is attended at all times.
Since the vehicle will most likely be driven to and from these functions, whatever the state and insurance board requires is also provided in the policy. Liability, uninsured motorists, PIP, medical, comprehensive, collision and more are offered on the antique automobile insurance policy. The value of one of these cars being covered is determined by its age, condition, and how rare this particular model is. Of course, clear title to the vehicle is necessary before the policy is written, and the owner must certify to all of the conditions mentioned above. Owners are often collectors of the same, so the pride they have in their collection ensures that they are taking very good care of the vehicle. They will pay whatever is necessary to obtain antique car insurance to protect their investments.
The public generally has a great deal of appreciation for these vehicles, so when they are present at county fairs or town celebrations, the possessions are well received. The average citizen would not intentionally harm one of them, but it's good to have them covered "just in case." Some enthusiasts put a great deal of money into restoring a vehicle after acquiring it. Since this is done with genuine parts for that vehicle and paint from the era, the value is enhanced. Thus, antique automobile insurance is a must to protect against loss. Thieves have been known to steal antique cars, so the closed garage requirement for antique car insurance is easily understood.
Most owners/collectors have no problem with the requirement of constant attendance during functions for the same reason. These automobiles are the prized possessions of those who own them, so antique automobile insurance is a vital necessity. But even if we own the most prized vehicle, we must keep our priorities in order. First Timothy 6:7 says, "We brought nothing into this world, and it is certain we can carry nothing out." As stewards, we purchase policies to protect our possessions, but as Christians, we also realize that our true protection is in God's hands, not in our possessions.
Antique car insurance is different from collectible car insurance and it is important that the owner know the difference. The key difference that makes antique car and antique truck insurance less expensive than collectible car insurance is that these will NOT be driven on a regular basis. While collectibles are allowed to be driven with limitations, the antique insurance will not allow as much mileage as the collectibles. This means they are meant for display only, not for use in running errands or to work. There are specific details that will specify the actual mileage limits per year.
Storage of these vehicles is specified in the policy. Very specifically they are to be kept in a locked garaged area. Zipped covers are not acceptable in most antique truck insurance policies as adequate protection. It is important to follow the guidelines in the policies since they are such unique vehicles. Antique car insurance is based on the understanding that these vehicles are irreplaceable. The age of these vehicles has reduced the number of actual running models and the company will place special coverage on these cars only if they still carry some inherent value. The upkeep of the vehicle is crucial to the coverage.
To be considered an antique car or truck, and to obtain antique car insurance or antique truck insurance, the age of the vehicle must be at least 30 years old. The companies have an easy guideline with this policy to determine the status. The inherent value of the coverage will then be weighed on the condition of the vehicle and the owner's planned use of the antique vehicle.
It is quite ironic how humans place values of property and people weighed by their age and condition. How glad we should be that God doesn't differentiate the human value by such factors! It was recorded in His Word: "For ye are all the children of God by faith in Christ Jesus. ...There is now neither Jew nor Greek, there is neither bond nor free, there is neither male nor female: for ye are all one in Christ Jesus" (Galatians 3:26-28). It doesn't matter when any of us are born, all are given the same offer of salvation, Christ Jesus' insurance policy against death and eternal destruction. It's great to be an antique or a newer, faster model. But it doesn't change the fact of salvation for all nor make any one more important or less important to receive more coverage or less coverage when hard times come, or even to walk through the pearly gates.