Category: Classic Car Insurance

Having a classic car is a joy. Whether it sits in a showroom or cruises around Boston, MA, you want the proper insurance to protect your vehicle. Classic car insurance is designed to do exactly that, but you might want to know what makes these policies special. To help with that, we’ve created this quick Smoller Insurance Agency guide.

Coverage and Cost

In terms of coverage, classic and traditional car insurance are more similar than not. You can choose how comprehensive you want your coverage to be, and the details of that coverage will vary by policy.

That said, classic cars typically see less frequent driving. Because of that, the premiums (for similar levels of coverage) are usually lower on classic car insurance (remembering that this can vary case by case).

In addition, classic insurance can also include specialized car show coverage that gives you specific protections for car shows and events.

Eligibility

The next major difference is eligibility. Most cars don’t qualify for classic coverage. There is no exact, universal set of rules, but a few guidelines can help you consider when a car counts as a classic. Typically, it must be at least 25 years old and must be "exotic."

There is no perfect definition of "exotic" in this sense, but the less common a car is, the more likely it will count.

Lastly, most classic car insurance vehicles will be in relatively good condition. If you purchase your favorite classic with plans to restore it, you might not want classic insurance until the restoration is complete.

Claims

The last major difference concerns claims. Classic cars do not depreciate over time in the same way that most vehicles do. In some cases, they might even appreciate, which affects claims.

In most cases, you and the insurance company initially agree upon classic car values. If you think your classic car is worth $30,000 (just as an example), you would seek a $30,000 policy. That means the maximum payout in the case of a total loss would be $30,000.

While that covers the biggest differences between classic and traditional car insurance, you always have plenty of options — especially when you work with Smoller Insurance Agency. Contact a representative today to cover your classic car in Boston, MA.

Smoller Insurance Agency can help Boston, MA residents like you identify excellent insurance options for various situations. For instance, we can help you find classic car coverage that keeps your vehicle safe. Here’s what you need to know about this protection and how it helps during car shows.

What is Classic Car Insurance?

Classic car insurance is a specialized policy type that focuses on vehicles classed as classic or antique. Typically, these are vehicles at least 10-25 years old, though they may be older in many areas. With this coverage, you can keep yourself safe whenever you go to a big car show with your vehicle.

How It Helps for a Show

Taking your vehicle to a classic car show can be fun and even financially rewarding. But what happens if you don’t have insurance and something happens? You might be at risk for serious financial loss! Thankfully, your protection can minimize this danger in various ways. Getting it can provide you with a variety of benefits, including how It:

• Protects You During Travel: Your policy should keep you safe while driving or hauling your car.
• Covers Potential Damage: If someone damages your car unexpectedly, your policy may help.
• Pays for Replacements: Did your classic car finally give out? Your policy may pay to replace it.
• Gives You Peace of Mind: Knowing your car is safe will make your car show more fun.

Get the Help You Need

With the help of our team at Smoller Insurance Agency, Boston, MA residents can protect their classic cars and keep them safe from various types of damage. Our goal is to provide hands-on support in choosing a policy, so make sure that you contact us today to learn more about how we can help.

If you own a classic car, you must insure it with the best insurance policy available. Classic cars are often significant investments, and your classic car insurance must reflect this. For a classic car, it isn’t enough to have a regular auto policy. You specifically need a classic car policy. If you don’t have the insurance policy that you need, give us a call at Smoller Insurance Agency in Boston, MA.

Classic Car Policies

If you have a standard auto insurance policy on your classic car, it is unlikely that it will pay out what the car is actually worth if something goes wrong. When you purchase a standard auto policy, the coverage is determined by the car’s age, condition, and mileage. If you use these criteria, it may not reflect what the car is actually worth as a sought-after classic.

You’ll need a policy that considers the car’s popularity as well as how much people are willing to pay for it. Aspects of the car like its mileage may factor into its value, but many other factors are important when the car is a classic. This can mean its place in popular culture or the scarcity of that model of car. All of these factors are taken into account when purchasing a classic car insurance policy, and the policy is written for the specific car rather than a generic value.

Stay Insured

The coverage amount is so important because you may be in an accident that damages or destroys the car. This would be extremely costly for you if you didn’t have the right coverage for your needs. You need to stay covered with a classic car policy so that your investment in your car is protected.

Get Classic Car Insurance

Here at Smoller Insurance Agency, we understand classic cars and the investment they truly are. To get your coverage, visit us at our office in Boston, MA or give us a call today.

Finding the right insurance coverage will be an important part of your classic car hobby. Classic cars are not valued the same as regular cars, so insurance is an important consideration. At Smoller Insurance Agency, serving Boston, MA, we can help you make the best insurance choices. Keep reading to learn more about classic car coverage. 

Classic Car FAQs 

Can I Use A Regular Auto Policy?

You can use a regular auto policy for your classic vehicle, but this type of policy may not provide you with the proper amount of coverage. A classic vehicle carries a value that is far different from a regular vehicle. In order to get the amount of coverage that is appropriate, you will need classic car insurance. 

How Is Insurance Coverage Determined?

The only way to determine the coverage amount for a classic vehicle is to sit down with an insurance representative. This professional is trained to evaluate the true value of the vehicle. After this evaluation, an amount of coverage will be set. 

What Factors Will Be Considered?

There are many factors that affect the value of a classic vehicle. The age and model of the car will be the first consideration.  Any improvements that have been made to the car will also be considered. This is where you will want to share with the insurance agent the money you have invested in the vehicle. The last factor will be the value of the vehicle in local collector markets. This, again, is very different from the market value of regular cars. 

All of this information will be collected and a coverage amount will be determined for you. 

If you would like to learn more about classic car insurance, or any of our other insurance products, please contact us at Smoller Insurance Agency, serving Boston, MA and the surrounding areas.