Understanding Classic Car Insurance
When it comes to insuring a car in Texas, you are only required to carry the minimum amount of protection. This is often okay for many vehicles, but classic cars are a different story. Protecting one should mean special considerations, such as the car’s value, special needs during transportation, and the cost of repairs or restoration in order to retain the value.
Difference Between Classic Car and Automotive Insurance
There are some significant differences to consider when deciding between traditional automotive and classic car insurance. Traditional automotive insurance typically does not offer enough coverage since it only provides coverage up to the depreciated value of the car- not your vehicle specifically but of that make and model of car.
Classic cars, however, are more of an investment. They do not usually depreciate over time because the owner has put time and money into it. Most of them are restored to their original look and operations, so the value appreciates. If the insurance company is going by the average depreciated value, they are not taking into account the work the owner has done or how much your classic car is actually worth.
Due to the value of your classic car, repairs and restoration are usually going to cost more than a regular car, so your insurance coverage needs to be able to cover the higher costs- something traditional auto insurance does not do.
Transportation costs must also be considered. Classic cars need to be towed with care to retain their value and decrease the risk of additional problems. Traditional automotive insurance does not cover specialized towing, but classic car insurance does.
At EasTex Insurance of Tyler, TX, we know that your car is your baby, and babies deserve extra care and attention. Let us help you give it to them.
Rates and levels of protection can vary according to your precise vehicle and your insurance goals. Stop by or give EasTex Insurance a call to a classic car insurance quote and just what protections we can provide.