Classic Car Insurance in Oklahoma
If you're the proud owner of a classic car, you know how important it is to protect your prized possession with the right classic car insurance policy. There are some critical differences between classic car insurance and regular auto insurance to be aware of. Researching classic car insurance in Norman, OK is crucial so that you know what your coverage options are before you make a purchase.
Differences with Conventional Auto Insurance
The most significant difference between classic car insurance and traditional auto insurance is that classic car insurance usually covers the insured vehicle for guaranteed value. On the other hand, conventional auto insurance usually only covers a vehicle for the replacement cost of the car minus any depreciation the car has experienced since the policy started.
Types of Classic Car Insurance
There are numerous types of classic car insurance available. They include the following three classes.
Classic Car Insurance
A classic car insurance policy is used on a vehicle that is in working condition and has a higher than average value for the model in question.
Antique Car Insurance
Antique car insurance is usually provided for older vehicles in working original condition or working original restored condition.
Kit/Replica Car Insurance
This type of classic car insurance is available for vehicles that were assembled using separately manufactured parts.
Eligibility for a Classic Car Insurance Policy
Providers of classic car policies in Oklahoma and elsewhere may specify stricter requirements of drivers. Auto insurance providers often require drivers to meet these more stringent requirements because of the high value of classic and antique vehicles.
Insurance providers may require that policyholders be at least 25 years old. They may also require that policyholders have a clean driving record and several years of experience driving. Another requirement could be that the policyholder has only had one recent at-fault accident.
You can get a quote on your classic car insurance policy by getting in touch with us at Steiner Insurance Group in Norman, OK. We will be happy to help you build a policy and walk you through the insurance process.