Collector cars are generally driven only a few times a year. Insurance companies realize this fact and have designed specific policies to cover these vehicles at a much lower rate! The primary difference is that with a classic/collector car policy, you can insure the vehicle for its appraised value rather than its depreciated book value. Many of the same terms you will see throughout a regular auto policy will also apply to a Classic Car policy.
Bodily Injury – Pays for damages to an injury the other party sustains in an accident in which you are legally liable.
Property Damage – Pays for damage to someone else’s property resulting from an accident for which you are at fault and provides you with a legal defense.
Uninsured Motorists – Reimburses you for damages or injuries sustained where the other party was at fault, but did not have insurance.
Underinsured Motorists – Reimburses you for damages or injuries sustained where the other party was at fault, but did not have high enough liability limits to cover your medical expenses.
Medical Payments – Pays your medical expenses related to an automobile accident.
Comprehensive – Covers your vehicle for losses resulting from incidents other than collision. For example, comprehensive insurance covers damage to your car if it is stolen, damaged by flood, fire, hail, or animals. It pays to fix your vehicle minus the deductible on your policy.
Collision – Covers damage to your car when your car hits, or is hit by, another vehicle or other object. Pays to fix your vehicle less the deductible you choose.
Rental Car Coverage – This coverage will provide a daily limit to reimburse you for a rental car needed while your vehicle is being repaired as a result of a claim. This will not reimburse you for a rental car if it’s not the result of your vehicle being repaired. Additionally, comprehensive and collision coverages are required to add rental car coverage to your policy.
Emergency Road Side Service – Pays coverage for towing and other expenses that may occur when it is temporarily disabled.
**** All coverages are subject to the terms, limits and conditions of your policy contract