Collector Car and Classic Car Insurance
Collector cars are prized possessions and a large investment. Unlike regular cars, they usually hold their value or appreciate in value. Collector car insurance reflects these unique values as they are usually insured upon an agreed value, meaning they don't factor in depreciation. A normal auto policy will not provide as much coverage as they account for depreciation of the vehicle. Just as collector cars come in unique shapes and sizes, so do collector car insurance policies.
Collector Car Coverages
Guaranteed Value
Experience peace of mind with a guaranteed payout in the event of a total loss, ensuring you receive the agreed-upon insured amount between you and the insurance company.
You save money on your insurance policy
Enjoy reduced annual premiums as they reflect the lower mileage expectation, due to the fact that your collector car will be driven less than a daily auto.
Expert Claims Handling
Secure coverage with a company well-versed in sourcing parts, adept at managing claims, and deeply understands the nuances of handling your cherished classic car.
Flexible Usage
Tailoring coverage to your specific needs, we can match you with a company based on the usage of your collector car—considering factors like mileage, storage location, and your preference for regular use.
What Types of Collector Cars Qualify for Collector Car Insurance?
- Collector and Classic Cars
- Collector Motorcycle and Scooters
- Classic and Antique Tractors
- Motorsport Vehicles
- Insurance for Modified Cars
- Collector Trucks and SUVs
What is Classified as a Collector Car?
There are specific requirements for collector car insurance. The vehicle cannot be used as a daily driver, only occasional pleasure use. Furthermore, most carriers want the classic car to be stored in a covered and well protected area, such as a garage, barn, or shop. Additionally, collector car policies may have stricter requirements about your driving record. This includes things like reckless driving, DUI's and other serious infractions.
Important Coverages for Collector-Car insurance
Bodily Injury Liability
Liability coverage designed to compensate for injuries and damages to others in the event of an accident where you are deemed at fault.
Property Damage Liability
Coverage designed to handle expenses for damage to others' property caused by your automobile.
Uninsured Motorist / Underinsured Motorist
Liability coverage to safeguard you when another party injures or causes harm to you, especially when they lack insurance or carry insufficient coverage.
Personal Injury Protection & Medical Payments (No-Fault Coverage)
Coverage that pays for you and your passengers medical and related expenses from a car accident regardless of who is at fault.
Comprehensive Coverage (other than collision)
Comprehensive coverage provides protection against physical damage to your vehicle resulting from incidents other than direct collisions. Examples include theft, vandalism, falling objects, and flood. In the event of a covered incident, Comprehensive coverage compensates you for the fair market value to repair or replace your vehicle, minus the deductible.
Collision Coverage (Collision with other cars or objects)
Collision coverage addresses physical damage to your vehicle resulting from an automobile accident involving a direct collision with another vehicle or object. In the event of a collision, you are responsible for your deductible, after which your vehicle is repaired or you receive the fair market value for your vehicle.
Other Coverage Options
- Roadside Assistance & Towing - Towing a classic car can require a different need than any other car.
- OEM Parts - An endorsement you can add for newer vehicles to have Original Equipment Manufacturer (OEM) used to repair your vehicle
- Agreed Value (for comprehensive and collision) - Get an agreed amount on your car in the event of a total loss
At Narrows Insurance, we safeguard a diverse range of vehicles, including classic cars, trucks, antique cars, modified and newer vehicles, motorcycles, vintage tractors, boats, and more. Trust our advisors to guide you in securing a quality vehicle insurance policy tailored to your unique needs.
Helpful Auto Insurance Resources:
NADA Values - Vehicle Valuation Tool
Informational statements regarding insurance coverage are for general description purposes only. These statements do not amend, modify or supplement any insurance policy. Consult the actual policy or your agent for details regarding terms, conditions, coverage, exclusions, products, services and programs which may be available to you. Your eligibility for particular products and services is subject to the final determination of underwriting qualifications and acceptance by the insurance underwriting company providing such products or services. This website does not make any representations that coverage does or does not exist for any particular claim or loss, or type of claim or loss, under any policy. Whether coverage exists or does not exist for any particular claim or loss under any policy depends on the facts and circumstances involved in the claim or loss and all applicable policy wording.