There are different reasons why classic car insurance differs from a regular auto policy in Pomeroy, OH and around the state. With a classic car policy, you are going to insure the vehicle on an agreed value basis. This means if something happens to your car, you get the full agreed-to amount, minus any deductible. This coverage is better than the stated value or actual cash value that you may get with a regular auto insurance policy. It can be hard to determine the market value of classic cars, so you don’t want to get the market value if your vehicle becomes a total loss.
Some companies offer zero-dollar deductibles for classic car insurance, while you are likely never going to find this for a regular everyday car. You may have more flexibility in choosing body shops because insurance companies know that this vehicle requires more care when it comes to repairing the damage. You can also get coverage for additional parts and accessories, while a regular car insurance policy doesn’t offer the same additional coverages. Since you are using your classic car on an occasional basis, you will usually find these policies cost less because there is a lower risk of accidents than with regular vehicles used daily. Classic car insurance does provide the same liability insurance.
In order to be eligible for this type of insurance in Ohio, your car will need to meet some requirements. It will either need to be a classic car or an antique car. A classic car is a car between 10 to 24 years old. An antique vehicle is older than 25 years. It must also have limited use and be stored in an enclosed building. There are specific parameters for the condition, and it must be restored and maintained or undergoing restoration. An agent at The Vaughan Agency can help determine if your car qualifies.
Contact The Vaughan Agency, serving Pomeroy, OH, to get a quote on classic car insurance.