Classic Auto Insurance
Classic cars have a special place in our hearts. Whether you rebuilt it from the ground up, or bought it ready for show; they’re pieces of history! It’s so important to make sure your classic car is protected with a proper insurance policy.
Coverage
Classic Auto Insurance is similar to standard Auto, but with additional provisions tailored to the needs of classic cars.
This covers vehicle repair costs, medical expenses, or property damage of the other party if you caused an accident. Liability Coverage is required in all states for Auto Insurance.
Comprehensive Coverage pays for repair costs of your vehicle if it was damaged by anything other than a traffic accident. This includes theft, vandalism, the environment, etc.
Collision Coverage covers the repair costs of your vehicle after it is damaged in an accident.
In the event of a total loss, Classic Auto Insurance will reimburse you for the full value of your vehicle – without depreciation – if you have an Agreed Value policy.
Uninsured/Underinsured Motorist Coverage covers you for medical or vehicle expenses if the other party was at fault and doesn’t have enough insurance. This coverage is required in most states, but it can be excluded with a waiver.
Medical Payments aid in paying minor medical expenses, such as an ambulance ride to the hospital. It is not a replacement for a standard Health Insurance policy!
Roadside Assistance offers towing or roadside car repair services.
Many Insurance Providers offer specialty towing. These towing companies know how to properly transport a classic car without damaging it further.
Rental Reimbursement will cover the cost of a rental car for up to one month if your vehicle is being repaired at a shop. Reimbursement can range from $30 to $75+ per day.
You are eligible for Rental Reimbursement if your classic car was used for everyday driving.
When you sign up for a policy, we will decide on an Agreed Value of your classic auto. If your vehicle is completely destroyed, you will receive the full Agreed Value without any deductions or depreciation.
Discounts
There are dozens of ways to save on a classic auto policy, but your best bet is with discounts. These discounts are commonly available from most insurance companies:
You could save if you haven’t haven’t had a claim or received a ticket within the last 3 years.
Having more than one vehicle on your Auto Insurance policy qualifies for a discount. Adding even more vehicles to the same policy can save you big time!
Having more than one type of policy with your Insurance Provider will net you major savings. For instance, combining your Auto and Homeowners Insurance could potentially negate the cost of your Homeowners Insurance entirely.
Staying with the same Insurance Provider for 3+ years can earn you discounts for your loyalty.
Having your insurance premium withdrawn automatically each month will qualify you for an additional discount.
Having Umbrella Insurance in addition to your Auto, Homeowners, or Renters Insurance can save you money. This discount can be combined with the Multi-policy Discount as well.
Tips
Are your liability limits high enough?
These days, medical expenses and vehicle repair bills can be astronomical. State Minimum limits give you modest coverage, but in a serious accident they will not cover all of your expenses.
Haven Insurance recommends at least $50,000 in Liability Coverage per person, $100,000 in Liability Coverage per accident, and $50,000 for Property Damages.
What kind of deductibles should you pay?
A deductible is a dollar amount paid to your Insurance Provider to access your coverage. Deductibles can range from $250 to $2500 or more.
Higher deductibles will lower your monthly payments, while lower deductibles will raise your monthly payments.
