Classic Car Insurance
Vintage cars require insurance coverage just like any other vehicle. Some classic car owners fail to provide ample coverage for their vehicles by settling for standard coverage which does not provide sufficient insurance for vintage cars. Hudson Valley Insurance Brokerage, Inc. in Stony Point, NY has products designed to suit your needs perfectly. The following are the factors to bear in mind when buying vintage care insurance. It is also important to make sure your vehicle meets all the requirements to be considered for this type of insurance. Speak with an insurance agent to clarify.
Value of the car
The value attached to your vehicle is crucial because it determines the comprehensiveness of the coverage in case of an accident. The value of the car is based on the following;
Actual Value - This is the cars depreciated worth determined by its model, make, and year.
Stated Value - Maximum value agreed upon by the owner and the insurer.
Agreed Value - This is the worth determined following an appraisal by a licensed professional appraiser.
Consider the distance limit allowed by the insurer as many insurance firms in New York have a restriction on mileage. Select an insurance option that provides the best mileage coverage to avoid losing any claims.
Age of the driver
Some insurance firms restrict the age of the driver of the vintage car. Consider if any age limit applies in your case to avoid inconveniences when presenting a claim.
The security of your auto is of great importance to insurance firms to reduce the chances of damage to it. New York insurance companies require parking of the car in secure garages only in most cases. Therefore, you need to know specifications of the garage desired by your insurer.
After settling for an insurer, you will then be expected to provide monthly, quarterly, or annual premiums. An insurer that allows high upfront deductibles will reduce the burden of future installment payments.
Classic car insurance is different from other types of insurance. Visit Hudson Valley Insurance Brokerage, Inc. in Stony Point, NY to learn more about classic car coverage from our experienced staff. We are open to answering your questions and providing you with a quote. Give us a call for more information.