Do we need classic car insurance in New York?

For car lovers that live in and around Amityville, NY, owning a classic car can be the ultimate dream. If you do decide to purchase a classic car here, it will be a prized possession and asset that you need to properly care for. Part of this includes getting the right insurance for it. There are a few reasons why you should get a classic car insurance plan. 

Get Proper Replacement Coverage

A reason that you should get a classic car insurance plan is that you can receive appropriate replacement coverage. A classic car is a unique type of vehicle as it can appreciate in value over time. Due to this, you will want to know that the replacement value of it is properly insured. When you get a classic car insurance plan, it will give you an opportunity to negotiate the replacement value with the insurer to ensure the collectible value is protected. 

Liability Coverage

When you have a classic car insurance plan, you are also going to receive liability coverage. This is a required form of insurance to drive any type of car in New York. Those that are going to get one of these vehicles will likely drive it infrequently, which means the actual liability risk is lower than it would be with a standard car. A classic car insurance plan will reflect this. 

When you are a classic car owner in the Amityville, NY area, having the right insurance is important. Since there are complexities that come with picking this type of protection, it would be wise for you to call the Acme Insurance Brokerage. The Acme Insurance Brokerage can help you be addressing your questions and assessing your coverage options. Based on this assessment you will be able to determine what coverage you need and build a policy that properly protects you. 

What You Should Know About Classic Car Insurance?

Classic car insurance is a nonstandard type of insurance that was created to meet the insurance needs of classic and vintage car collectors. Since it is a specialized type of coverage, there are certain things you need to know about it before you get one to cover your precious vehicle. 

Type of a Classic Car

A car can be qualified as a classic car if it falls under any of three categories: Edwardian (cars made in the period between January 1905 and December 1918), Veterans (cars made on or before December 1904),  and Limited (special interest, rare vehicles, or limited editions). 

Age 

Your car must be at least 15 years old to be considered a classic car. Some insurance companies provide classic car insurance to vehicles that are under 15 years of age if these cars are considered rare, exotic, or cherished. 

Storage Requirements

There are quite strict storage requirements for classic cars to be eligible for classic car insurance. A classic car should not be parked outside of your home. A classic or vintage vehicle should be kept in a highly secure garage or a special storage facility created for storing and securing car collections. 

Insuring a classic car is different from getting insurance for your regular automobile. Therefore, if you are a lucky classic car owner from Amityville, NY, you should take your time to find a perfect insurance plan for your precious possession. If you need assistance, Acme Insurance Brokerage serving Amityville, NY, and other surrounding areas is ready to help you. Give Acme Insurance Brokerage a call and talk to one of our experienced agents to get more information about insuring your special vehicle.

How Classic Car Insurance Works

When you own a vehicle, you must have insurance coverage to protect your investment and this includes classic cars. Whether you own a 2020 Camaro or a 1968 Mustang, you need to have coverage to protect your investment. Acme Insurance Brokerage has the tools to get you started with a policy in Long Island or Amityville, NY.

A Classic Car Policy

When it comes to classic car insurance, you need to obtain a more unique policy to insure your car versus the policy you would have for your non-classic vehicle. This holds true for not only classic cars but also for collectors and performance cars since the repairs could be more complicated, specialized, and expensive than when it comes to a newer vehicle.

Classic and collector cars tend to be more tempting for thieves or vandals due to their rarity and value which means the type of insurance you purchase to protect your car is even more important. Although repairs might be more expensive, the plus side for classic car owners is that the policy you obtain does not have to be more costly.

Vehicles that are considered classic cars include antique cars that are over 25 years old, exotic or luxury cars, hotrods and other modified vehicles, muscle cars, vintage military vehicles, and classic trucks.

When it comes to the replacement costs for your classic vehicle, there is a major difference from the replacement cost for your standard vehicle. If there is a loss of your vehicle due to theft or disaster, classic car insurance will pay you the agreed or guaranteed replacement cost while standard auto insurance policies will only pay out the depreciated value of your vehicle at the time of your loss, which is the actual cash value of the vehicle.

To obtain the classic car insurance that will be suitable for you and your situation, you need an agent you can trust. The classic car insurance agents at Acme Insurance Brokerage in Amityville, NY have the skills and knowledge to provide you with the best policy and can assist you today. Contact our office to get started with a quote.