If you’re like most people, you dream of owning a classic car. There’s just something about those beautiful machines from a bygone era that captures the imagination and stirs the soul. And when you finally take possession of your dream car, you want to ensure it’s adequately insured. But what kind of insurance is right for a classic car? That’s why it’s important to work with an experienced insurance agent who understands the unique needs of classic car owners. The agents at EasTex Insurance in Tyler, TX are experts in this field and will highlight a few key points to consider when choosing a policy.
Value of Your Classic Car
It’s important to have an accurate appraisal of your vehicle’s worth to ensure you’re carrying enough coverage. The value of a classic car can fluctuate, and you don’t want to be caught underinsured.
Coverage for Spare Parts
Your classic car is more than just a vehicle; it’s a work of art. And like any fine art, it requires special care and attention. That’s why you must ensure your policy covers spare parts if something needs to be repaired or replaced.
Agreed Value vs. Stated Value
There’s a big difference between an agreed value policy and a stated value policy. An agreed value policy means that in the event of a total loss, you will receive the full amount of coverage regardless of the actual cash value of your vehicle at the time of the loss. A stated value policy means you will receive a payout based on the current market value of your car. Make sure you understand the difference before choosing a policy.
EasTex Insurance in Tyler, TX has been helping classic car owners find the right insurance for their needs for years. We know what it takes to insure a classic car properly and can help you find the right policy. Give us a call today to learn more.