Do you have “designated garage space” for that 20+year old car? Maybe you spend more time polishing than actually driving your “baby”?
Pennsylvania auto insurance “family auto” policies probably don’t give you the type of coverage you want for an antique or classic car. Pa family auto policies are designed to cover private passenger autos. Rates for Pa auto policies are calculated for most vehicles up to approzimately 10 years old. Rates for comprehensive and collision coverage will not reduce after your auto reaches age 10 or older. The amount you will be paid for losses will certainly reduce dramatically after age 10.
Solving the dilemna of insuring your 20+year old vehicle requires special coverage. The average policy pays “actual cash value” on losses to your vehicle. Actual cash value means your payment will include a substantial deduction(depreciation) based on the vehicle’s age and condition. Even a vehicle in excellent condition will see a significant deduction based on age alone.
Antique and Collector policies normally use an “agreed value” that your vehicle is insured for. Based on an appraisal, bill of sale or replacement cost estimate you vehicle can now be insured properly. Rates for liability, medical and other required pa auto insurance coverage will also be significantly reduced. Considering the fact that most antique autos are driven on a very limited basis, the rates for all the pa required coverage are discounted deeply.
Several companies we represent are specialist in the antique/collector markets. Their experience will help you greatly when trying to decide which is the best way to cover your favorite set of wheels. We can provide you with many different options based on your usage and the type of after market add ons you have on your vehicle. From the beefed up hot rod to the completely stock antique there’s a coverage that is specific to your car.
Expect to provide photos inside and out to insure your antique/collector car with the best coverage. Establishing values and agreed amounts are normally not a problem when dealing with an insurer that specializes in these cars. Feel free to contact our office any time to get several different options from the top rated companies.
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