TUESDAY, JUNE 7, 2022
If you own an antique car, you likely take pride and care to maintain this valuable piece of equipment. Antique cars are unique collector items, and you have to take care of them to preserve their value.
Protecting antique cars requires a careful balance of appropriate use and the correct antique car insurance. Insurance is important for antique car owners. It can often help repair and replace damages to these vehicles.
Insuring Antique Cars
When you buy an antique car, the car poses risks that may not be prevalent to most drivers today. Today’s vehicles have developed significantly compared to antique vehicles. Many antique vehicle enthusiasts also put money into maintaining and refurbishing the vehicles. Such practices can increase the car's value.
Antique vehicle insurance covers the unique risks associated with these vehicles. It is different from standard auto insurance. It comes with unique coverage levels to better protect the vehicles and drivers.
When you buy an antique car, get the proper documentation to qualify the vehicles for antique car insurance. You should also take steps to protect the vehicle from damage risks. Antique vehicles often come with different risks compared to the average car.
Properly Protecting the Vehicle
Guarding your antique car can help you reduce your insurance risks. Protecting you car is a very valuable practice to increasing your insurability.
- Make sure your vehicle insurance will cover repairs and replacements for the vehicle using unique, original parts. Many current vehicle parts will not work on antique vehicles. Your insurance should therefore make special financial allowances associated with part replacement.
- Sometimes, antique vehicles are not able to go everywhere you want to take them. If customize the vehicle, like installing special engine components or tires, tell your insurance agent. They will likely adjust your coverage to take the special modifications into account.
- Perform the correct maintenance on the vehicle. Use only approved repair methods. Work with specialist mechanics who know how to repair antique cars.
- Properly storing the vehicle helps maintain its integrity. You might use a garage or car cover to protect the vehicle. Also, ask your insurance agent about storage discounts. Most antique vehicle drivers only use the cars during specific times. Since they don’t drive every day, they might be able to adjust their insurance whenever they put the car in storage. This could help save insurance costs.
- Only use the vehicle in low-risk environments. Adverse weather and terrain could damage the vehicle. To reduce risks, it is best to only drive on good terrain, during safe weather conditions.
Properly insuring your antique vehicle can help you cover various specialty risks.
We’ve got you covered. The Mike Dyer Agency can help you get an antique car insurance policy to best meet your needs. Call us at 865-966-2111 for more information.
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