Classic car owners looking to buy car insurance should be very careful when requesting easy car insurance quotes. Think about it: when you’ve finally bought that 1965 Pontiac GTO Bonneville you’ve been dreaming of for years, you want it to be insured for its full classic car value, don’t you? Unfortunately, many classic car owners aren’t aware of the fact that standard car insurance insures your car for its depreciated blue book value, also referred to as Actual Cash Value or ACV, which in no way represents a collectible’s value. So what should you look for when you want to buy car insurance for a classic car?
Stated value insurance coverage. The stated value allows you to state how much the car is worth and does not bind you to the blue book value. However, the insurance carrier might not meet your stated value completely, and your classic car can still devaluate under stated value insurance coverage. Be sure to read the fine print on these types of insurance policies.
Agreed value insurance coverage. The agreed value insures your car fully for the agreed value, which you negotiate with the insurance carrier. With agreed value insurance coverage, your vehicle doesn’t depreciate, which makes it the preferred choice for classic car owners.
Buy car insurance with AgentInsure
AgentInsure makes finding the best deal on classic car insurance easy and efficient. Simply enter your information in the online form and you’ll immediately receive a number of quotes for your review. You also have the option of contacting a licensed agent in your area to discuss any details you’re concerned about. To buy car insurance for a classic car, request your free quote from AgentInsure today!