In North Carolina, a classic car is a car that is between 20 and 40 years old, and there must be something distinctive that makes it a classic – instead of just old. Steiner Insurance Group in Nashville, NC can explain the differences in coverage for standard automobiles and classic cars.
How is classic car insurance different?
Insurance for your classic car is different than the policy you would get for a relatively new vehicle you drive daily. A classic car may not be your regular daily driver if you want to get a special classic car policy. One of the qualifications for this kind of insurance is that you have another vehicle you drive daily.
Limits on a classic car policy
There are limits on how many miles a classic car can be driven. It can, for instance, be driven in a parade, to local car shows, and even for some occasional pleasure cruising. There is usually a yearly limit. You can drive it all you want, but you will have to get a standard policy at some point.
How the insurance works
Whether a car is a classic is determined mainly by age, but there must also be other significant reasons that it is not just an old car. The value of regular cars is fairly straightforward, but not so with the classic car. When insuring a classic car, the value to the owner is part of the equation, and to some extent, that is negotiated when writing the policy.
The major difference
The value of a classic car is determined before the policy is written. The value of a regular vehicle is determined when an accident happens.
Call the Steiner Insurance Group in Nashville, NC for more information about insuring your classic car.
If you’re a classic car or motorcycle enthusiast in Nashville, NC, you may wonder if classic car insurance also covers motorcycles. After all, both vehicles are considered classics if they’re older than 25 years old. The answer is yes and no—it depends on the insurer and your chosen policy.
Steiner Insurance Group is happy to help. Here we explore what coverage options are available for classic cars and motorcycles.
Classic Car Insurance Coverage Options
Classic car insurance is designed to provide financial protection for vintage cars that are at least 25 years old. Generally speaking, when insuring a classic car, an insurer will determine the vehicle’s value based on its condition, age, make and model.
This type of coverage typically includes liability protection (in case you damage someone else’s property while driving), physical damage coverage (in case your vehicle is damaged in an accident), and uninsured/underinsured motorist coverage (in case you’re hit by another driver who doesn’t have enough auto insurance).
Classic Motorcycle Insurance Coverage Options
The same type of coverage option is available for classic motorcycles that meet the same age requirements as classic cars. However, some insurers may require additional documentation before offering coverage on a vintage motorcycle. For example, some insurers may require proof that the bike has been modified or restored to qualify for certain types of coverage. Additionally, some insurers may require inspections before offering coverage on a vintage bike.
Contact Us Today
Ultimately, whether or not classic car insurance covers a classic motorcycle depends on the insurer and the policy you choose. if you own a vintage vehicle in Nashville, NC — whether a car or a motorcycle — contact Steiner Insurance Group to get the right type of coverage for your specific situation.
If you’re like most people, when you think of classic car insurance, you probably think of a policy that’s expensive and hard to get. You may even believe that only the wealthy can afford it. But that’s not always the case. In fact, there are several misconceptions about classic car insurance that many people believe. Steiner Insurance Group in Nashville, NC offers a look at a few of the most common ones.
Common Misconceptions About Classic Car Insurance
1. It’s Similar to Regular Auto Insurance
One of the most common misconceptions about classic car insurance is that it’s similar to a regular auto insurance policy. The truth is, there are some key differences between the two. For instance, while classic car insurance typically covers vehicles that are at least 25 years old, regular auto insurance policies can cover almost any vehicle. Additionally, classic car insurance will consider the use of your vehicle when determining whether to classify it as a "classic." This means that if you only use your vehicle for special occasions, such as car shows or club meetings, you may be eligible for a classic car insurance policy.
2. It’s Only for the Wealthy
Another common misconception about classic car insurance is that it’s only for the wealthy. While it’s true that some high-end classic cars may be more expensive to insure, that doesn’t mean that all classic car insurance policies are out of reach for the average person.
3. It’s Difficult to Get
Another common misconception about classic car insurance is that it’s difficult to obtain. The truth is, classic car insurance is actually quite easy to get if you know where to look. There are a number of insurers that offer classic car insurance policies, and many of them can be found online.
Do you own a classic car? Steiner Insurance Group in Nashville, NC offers classic car insurance policies that are tailored to your needs. Contact us today to learn more about our coverage options and how we can help you protect your investment.
If you own a classic car, it has its own concerns that later-model cars don’t have. Owners of classic cars need to have specialized insurance for classic cars in order to have good protection against risks that these cars come with. When you live in North Carolina and you need classic car insurance, give us a call today at Steiner Insurance Group in Nashville, NC to find out more.
Classic Car Coverage
The basic model of classic car insurance is the same as that of regular vehicles. Onto this is added the types of coverage only needed by classic cars. When your car is a classic, it’s always best to get classic car insurance instead of regular auto insurance. A classic car policy will have the same basic coverages as regular auto insurance, including bodily injury liability for the injured caused to other people, and property damage liability for damage your car does to someone else’s property. It is also a good idea to get coverage for uninsured motorists as well as collision insurance to pay for your own vehicle’s damage after an accident that you cause.
Classic Car Additions
Classic car insurance also includes some aspects that are unique to this type of insurance. One of these is agreed value coverage. This is protection that covers your classic car for a specific value of the car instead of simply figuring out a value based on its model and year. Classic car insurance also has a flexible usage allowance. This allows you to insure the car based on how often you use it. Some classic car owners have a vehicle that they don’t often drive, while others drive theirs every day. Your insurance will reflect the frequency of usage. Classic car insurance also includes roadside assistance 24/7 in emergencies.
Get Your Classic Car Covered
For classic car insurance, call us at Steiner Insurance Group in Nashville, NC.
Those that are in the Nashville, NC area and love cars will likely dream of owning a classic car. A classic vehicle is not only a fun vehicle to drive and show off, but it can also be a good investment that will grow in value. As you are looking for a classic car, you also need to choose a quality insurance plan. There are a few reasons why someone here should get classic car insurance.
Protect Value of Vehicle
One of the advantages of having a classic car insurance plan is that it can protect the value of your vehicle. If you are going to invest in a classic car, it is an asset that could appreciate in value. This differs from most other vehicles that typically decline in value. With a classic car insurance plan, you and the insurance provider will negotiate a fair replacement value that will be based on the collectible value of the car.
Offers Liability Protection
No matter what type of vehicle you want to drive in North Carolina, you will be required to carry liability insurance. With a classic car, you will likely drive the vehicle sparingly throughout the year and insurance term. As your actual liability risk is lower due to reduced annual mileage, you will receive an insurance plan and premium that reflects this.
Choosing a classic car insurance plan in the Nashville, NC area is always a big decision. If you are looking for classic car coverage here, it would be wise to call the Steiner Insurance Group. When you do call the Steiner Insurance Group, you can learn a lot about your insurance options. You can then choose a plan that will provide you with coverage that is ideal for your situation.