Understanding Classic Car Insurance

When it comes to insuring a car in Texas, you are only required to carry the minimum amount of protection. This is often okay for many vehicles, but classic cars are a different story. Protecting one should mean special considerations, such as the car’s value, special needs during transportation, and the cost of repairs or restoration in order to retain the value.

Difference Between Classic Car and Automotive Insurance

There are some significant differences to consider when deciding between traditional automotive and classic car insurance. Traditional automotive insurance typically does not offer enough coverage since it only provides coverage up to the depreciated value of the car- not your vehicle specifically but of that make and model of car.

Classic cars, however, are more of an investment. They do not usually depreciate over time because the owner has put time and money into it. Most of them are restored to their original look and operations, so the value appreciates. If the insurance company is going by the average depreciated value, they are not taking into account the work the owner has done or how much your classic car is actually worth.

Due to the value of your classic car, repairs and restoration are usually going to cost more than a regular car, so your insurance coverage needs to be able to cover the higher costs- something traditional auto insurance does not do.

Transportation costs must also be considered. Classic cars need to be towed with care to retain their value and decrease the risk of additional problems. Traditional automotive insurance does not cover specialized towing, but classic car insurance does.

At EasTex Insurance of Tyler, TX, we know that your car is your baby, and babies deserve extra care and attention. Let us help you give it to them.

Rates and levels of protection can vary according to your precise vehicle and your insurance goals. Stop by or give EasTex Insurance a call to a classic car insurance quote and just what protections we can provide.

While most people in the Tyler, TX area will own a car and consider it a mode of transportation used to get from A to B, other people may have an interest in the history of vehicles. They may desire to own a classic car themselves. When you buy a classic car, you are not only getting a vehicle that can be driven, but you are purchasing a vehicle that could appreciate. Due to this, getting classic car insurance would be a great option. 

Protects Value

One reason to get classic car insurance is that it can help to preserve the value of your car. When you enter into a classic car insurance policy, you will enter into an agreed-upon replacement value of the car, which differs from standard car insurance policies. Doing this will allow you to protect the unique value that comes with some classic cars.

Liability Coverage

Another reason that you will need classic car insurance is that it can provide you with liability coverage. Similar to when you are driving any other type of car, you need to have liability insurance when operating a classic car. This will ensure that you comply with state laws and are covered if you are at fault in an accident. 

There are many reasons why you should get classic car insurance if you have a classic car in the Tyler, TX area. Since there is some complexity with this type of coverage, you should work with a team that is well aware of how this type of insurance works. The team at EasTex Insurance can help you acquire a quality classic car insurance policy that meets your needs. EasTex Insurance will also explain how this type of insurance works, which will allow you to choose the right plan for your situation.