Many enthusiasts hold a special place in their hearts for classic cars, which serve as timeless symbols of automotive history and craftsmanship. However, owning and insuring a classic car comes with its own set of unique considerations that set it apart from traditional auto insurance. At Agency Advantage Insurance in West Bloomfield MI, we provide auto insurance for classic cars. Continue reading to learn more.

How Does Classic Car Insurance Differ from Traditional Auto Insurance?

Classic car insurance differs from traditional auto insurance in several key ways. Unlike traditional policies that consider a vehicle’s current market value, classic car insurance takes into account the collectible or sentimental value of the vintage vehicle. This specialized coverage is designed to protect against risks unique to classic cars, such as appreciation in value over time and the higher costs associated with repairs and restoration.

Additionally, classic car insurance often comes with agreed or guaranteed value coverage options, which means that in the event of a total loss, you receive an agreed-upon sum without depreciation. Traditional auto insurance typically follows actual cash value (ACV) guidelines, which could result in lower payouts for older vehicles. Finally, classic car policies may have mileage restrictions or require owners to store their vehicles in secure garages when not in use to qualify for coverage, reflecting how these special cars are preserved and protected by enthusiasts.

Contact Agency Advantage Insurance in West Bloomfield MI for Classic Car Insurance

Contact the professionals at Agency Advantage Insurance to have peace of mind knowing your classic car is protected. We specialize in creating affordable and quality insurance policies for classic cars. Contact us today to speak with an agent and learn more about coverage and options for your classic car.