Classic Car Insurance in Alabama
At Attain Insurance, we know that you've put a lot of work into restoring your classic car. But what would you do if your cherished vehicle was involved in an accident or stolen? As independent insurance agents, we work with a variety of different carriers who specialize in a special type of coverage called classic car insurance.
What is Classic Car Insurance?
Classic car insurance is quite similar to the policy you carry on your commuter vehicle. The policy covers the same basic categories -- liability, comprehensive, and collision -- and even meets state guidelines for insurance coverage.
The big glaring difference between the policy types is that classic auto policies use stated value versus replacement cost value if the vehicle is ever deemed a total loss. When you purchase a classic car policy, you choose your coverage based on the exact value of the vehicle. (Usually, this is a figure determined by a professional appraisal, but can vary).
Why is this done? Classic vehicles do not depreciate the way normal vehicles do, which makes replacement cost a bit more arbitrary to determine. By setting state value at the start of the policy, all of your hard work and customizations are covered under the policy.
Does Classic Car Insurance Cost More?
No. In most cases, insuring a classic car is less expensive than insuring a regular vehicle. This is often due to the fact that most collector vehicles sit in a garage versus being out on the road—which lowers the risk of the vehicle ever being involved in an accident.
However, certain factors still apply to rates, including your age, driving record, credit history, and what zip code you live in. It is important to speak directly with your agent to determine whether or not a classic car policy is less expensive and meets your needs better than a standard auto policy.
Please contact our knowledgeable team today for a no-obligation Alabama classic car insurance quote.