As classic car owners work to build a classic collectors insurance policy, they may come to realize that there are a lot of options available. The coverages offered may vary based on the insurance company, but could include:
- Spare Parts Coverage: This covers the cost of antique or unique spare parts that an old car may need.
- Agreed-Value: This total loss coverage ensures depreciation of a vehicle is not considered when paying for damages.
- Stated-Value: This protects only up to a previously stated amount, but the insurance company may not have to pay that amount depending on depreciation.
- Cash Value: During a total loss, this type of policy would only pay out up to the current total cash value of the vehicle.
- Roadside Assistance: If the old car breaks down during a parade or a leisurely drive, this policy will get help to the driver quickly.
- Glass Coverage: Some policies may protect against damage done to the windshield, mirrors, side windows and other glass.
- Unlimited Mileage: Some policies restrict how many miles an old car can have, but this type of policy has no such restriction.
- Medical Reimbursement: If someone gets hurt in or near the vehicle, this will pay for medical bills associated with the injury.
Classic collectors insurance can vary greatly from one policy to another. The right insurer may be able to create a unique policy for any car owner.