| Let's start this off with a hypothetical situation. | | | | companies offer these type of policies. You may be |
| Imagine you have yourself a sweet cherry red 1956 | | | | surprised at how affordable these policies are. They |
| Chevy that you have fully restored and you get into | | | | are cheaper than regular car insurance on average. |
| an accident. Let's say you've put $20,000 into it. How | | | | You may have to talk to a special department to get |
| much do you think the insurance company is going to | | | | the policy issued but the small hassle is worth it |
| pay you if you do not have antique or classic car | | | | knowing that your investment is fully covered. |
| coverage on it? | | | | You don't want the hypothetical situation described |
| The answer is not very much. You may only get a | | | | above to turn into a real situation and you |
| few hundred dollars paid out for your claim. I'm | | | | underinsured for the full value of your car. |
| pretty sure you will be hopping mad at this result. But | | | | Be sure to ask your insurance agent any questions |
| you can avoid all this heartache. | | | | you have about the policy. |
| The insurance company will not fully pay out what | | | | You may also have some limitations on how much |
| you have spent to fix up your antique car. | | | | you can drive your car. You may not be able to use |
| So the answer to the question "how much insurance | | | | it as a regular vehicle. It's probably not a good idea to |
| should I carry on an antique car?" is enough to cover | | | | drive it on public roads often anyways. You can use |
| the full value of the car. | | | | it as a weekend cruiser and take the wife out for a |
| That is why insurance companies offer antique car | | | | spin with the top down. Or you can take it out to |
| insurance. It may also be known as classic car or | | | | car shows with other classic car enthusiasts and |
| collector insurance. A hot rod, muscle car, or antique | | | | show off your sweet ride. |
| car is a special kind of risk and it needs a policy that | | | | Restoring classic cars to their original condition can be |
| will adequately price this risk. | | | | an enjoyable and rewarding experience. Just make |
| This insurance policy offers you protection on your | | | | sure you carry enough insurance to fully cover the |
| investment into your classic cars. Most insurance | | | | auction value of the car to another collector. |