Classic Car Insurance in West Palm Beach, FL
Classic car insurance is a specialized type of coverage designed to protect vintage and antique vehicles that are not used for daily driving. Unlike standard auto insurance, classic car policies take into account the unique value, limited use and preservation needs of these cherished automobiles.
What Qualifies as a Classic Car?
While definitions vary slightly between insurers, a classic car is typically at least 20 to 25 years old, maintained in good condition and used primarily for exhibitions, parades or occasional leisure driving. Some insurers also require that the vehicle be stored in a secure garage and not used as a primary mode of transportation.
What Is Agreed Value? 
Agreed value is a key aspect of classic car insurance. Most car insurance policies will only pay the actual cash value of a vehicle, accounting for depreciation. Conversely, classic car insurance allows policyholders to receive its agreed value if something happens to the vehicle. The agreed value is a price determined between the policyholder and the insurance company. This allows classic car owners to insure the full worth of their vehicles, rather than market price.
What Influences the Cost of Premiums?
The following factors can influence the cost of classic car insurance premiums:
- Agreed value
- Vehicle age and condition
- Usage restrictions
- Storage conditions
- Driver’s record and experience
- Location
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Classic car insurance offers tailored protection for enthusiasts who invest time, money and passion into preserving automotive history. For classic car insurance near you, contact Casual Insurance Group.