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Are you a classic car enthusiast? Do you live in or near the Croton Falls, NY area? If so, make sure your hobby is protected with classic car insurance provided by the Carminucci Agency.
Classic Car Coverage: What You Need To Know
Classic car insurance is a specialized policy that protects classic or antique cars. A car is considered a classic if it is at least 25 to 30 years old. Insurance for a classic car is usually much cheaper than standard car insurance coverage. Unless you own an expensive classic, your rates could be around $200 to $600 annually. Standard car insurance typically costs around $1000 yearly.
Classic car insurance is meant for secondary vehicles only. It is not intended to cover a car that is for daily use. If your collector or classic car is your primary ride, it needs to be covered with a regular car insurance policy.
Insurers realize that older vehicles have lower speeds and more basic mechanics than newer vehicles. Therefore, they are classified as lower risk and offer less expensive premiums.
A collectible car insurance policy provides liability, collision, comprehensive, and other specialized coverage. Antique cars typically maintain or increase in value, so your insurance will provide coverage up to an agreed amount. Regular car insurance will not provide as much coverage.
A standard car insurance policy may provide some coverage for your classic. But a classic car that has been customized or restored will be valued more than its depreciated value. Standard policies take into account a car’s mileage, age, and depreciation when determining its worth.
In addition to classic and collector cars, classic car insurance is for vintage motorcycles, milk trucks, military vehicles, kit cars, sports vehicles, street rods, exotic cars, and other antique vehicles including tractors.
Get The Right Coverage Today
If you have a classic or collector vehicle and live in the Croton, Falls NY area, contact our insurance professionals at Carminucci Agency today for a quote. We will be glad to assist.