Insuring a collector car is different then purchasing an insurance policy for an everyday automobile. It is important that you familiarize yourself with the different coverages available and the guidelines. Here is some basic information you will need to know before you purchase a policy. You can always consult with one of our agents at Brazelton Insurance Group to get more information.

1. Cash Value– Similar to standard auto insurance, unless you can prove else wise  about depreciation, you’ll receive whatever it would cost to replace the car, less depreciation. If the car is in an accident and totaled, most of the time you will only receive a small settlement amount.

2. Stated value: The insurer will pay the insurance value you’ve put on it. You’ll need to prove via appraisals that the car is worth your stated amount.

3. Agreed value: This is the most common coverage, and refers to values you and your insurer agree upon. There usually isn’t a deductible.

Affordable premiums and to maintain eligibility, here are a few rules:

  • maintain a good driving record
  • 10 year driving history
  • no teenagers on the policy
  • prove another vehicle is used for daily use

For more information on collector car insurance, contact Brazelton Insurance Group.