With spring around the corner, many of our clients are pulling their antique, vintage and heritage cars out of storage. Soon we’ll see the streets full of Mustangs, Camaros, Corvettes, and MGBs. These collector cars are different from daily drivers and deserve specialized coverage through a collector car policy.
A collector car policy offers better coverage
Agreed Value Coverage
Most collector policies will offer an endorsement called a “19a – Valued Automobiles Endorsement”. This endorsement guarantees to pay an agreed amount of the vehicle stated on the policy in the event of a total loss. If you are unsure of the value of your collector auto, click here for a free valuation tool. Be wary of any company offering a “19” endorsement instead of the “19a” endorsement. The disadvantage of a “19” endorsement is that it limits the maximum amount of insurance a company will pay rather than guaranteeing to pay a certain amount like the “19a.”
Roadside Service and Flat Bed towing
Many collector policies will offer roadside service for a small fee. This includes coverage for lockouts, battery jumps, tire changes, and emergency fuel delivery. They may also offer options for free towing, with the best policies guaranteeing soft strap flatbed towing to protect your collector car.
Expert claims handling
A true sign of a great collector car policy is the claims service. Many are collector car companies are staffed with a claims team trained in classic vehicle repairs, offering stock original replacement parts and even assisting in search for the required parts. In the event of a claim, most collector car policies will also allow you the option to keep the remains of the damaged vehicle, allowing you to rebuild your car.
A collector car policy offers better pricing
Perhaps one of the best benefits of collector car insurance is that companies recognize that these vehicles are rarely driven and meticulously maintained. As such, the price to insure a collector car is often a small fraction of what you would pay to insure a daily driver.
Special vehicles deserve special insurance. If you have an antique, vintage, or classic car, be sure to ask your insurance provider for a collector car policy. If you do not have a broker, or they do not have access to a collector car policy, please contact us and we would be happy to help.