How to Find the Right Insurance for Your Antique Vehicle?

How to Find the Right Insurance for Your Antique Vehicle?


Antique cars are signature collector items. Thousands of people enjoy showing off their antique cars at trade shows and exhibits every year. It’s important that you find strong insurance to cover a valuable asset such as an antique car. Consider the benefits of classic car insurance.

Classic Car Insurance

Classic car insurance differs from traditional car insurance policies. These policies include unique coverage tailored directly for antique cars. Classic car insurance includes liability coverage. While classic and antique cars are designed to be only driven on rare occasions, there’s still a chance an accident may occur at any moment. You will be protected if your antique car accidentally injures someone or causes property damage.

Most classic car insurance policies also include uninsured motorist coverage. This type of coverage protects you if your antique car sustains damages due to a driver who does not have car insurance. Uninsured motorist coverage may assist with potential repair costs. Roadside assistance is also included in most classic car insurance policies. One of the key features of antique cars is their parts. Roadside assistance is designed to cover you in the event that your antique car breaks down while you’re traveling. You will receive immediate assistance to handle a flat tire, jumpstart a dead battery, or provide towing service.

Adding Personal Injury Protection is also recommended. Personal Injury Protection helps cover your medical treatment if you sustain any injuries in an auto collision.

Actual Cash Value Vs. Agreed Value

The foundation of your classic car insurance policy is determining if your vehicle will be insured using the agreed value or Actual Cash Value. The type of insurance you choose will impact your policy deductible and the potential claim if your antique vehicle is stolen, vandalized, or totaled.

  • Actual Cash Value

    Option for Actual Cash Value is the amount that your vehicle is worth at the time of damages occurring. Your insurer may have an adjuster inspect your vehicle and determine the current cash value. The adjuster’s decision impacts your settlement offer. It’s recommended that you bring up strong evidence if you don’t agree with the appraisal. There’s a chance your insurer may adjust their offer. Actual Cash Value is not ideal for every antique car owner due to the potential disagreements during the claims process.

  • Agreed Value

    Opting for agreed-value coverage means that you and your insurer have an understanding regarding the value of your antique car when you sign up for the policy. If your antique is totaled, the insurance company will reimburse you based on the amount that you agreed on. It’s recommended that you look over your policy carefully to ensure that the agreed value is outlined in writing. It’s also recommended that you make sure that everything is in place so that you can avoid a situation where you don’t have as much insurance as believed. This could leave you exposed to paying more money towards repair or replacement costs if an emergency occurs.

Consult with CAV Insurance Agency to Cover Your Precious Antique Vehicles

Classic car insurance helps protect your prized possession. If you have any questions about the actual cash value and agreed value, contact the team here at CAV Insurance Agency, and we will assist you in covering your antique vehicle.

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