Find The Best Rates For Your Classic And Antique Car Insurance Needs In South Carolina
What Is Classic Car Insurance?
Classic car insurance is different from normal auto insurance in that it often will cover the car at an agreed or guaranteed valued. Your normal auto insurance only covers actual cash value, that is the amount your car is currently worth. If you bought a brand new car 3 years ago for $25,000, it could be worth 20-40% less than that. If it is currently only worth $18,000, that's how much your insurance company will pay out. But if your classic car is valued at $50,000, classic car coverage would cover the full value of the vehicle with no decrease in coverage due to depreciation. But of course as the car gets older and as you continue to care and maintain it, the car's value will increase.
Classic Cars are unique and require a special type of insurance to properly cover them. While no insurance can bring back your treasured classic car, it can protect you from total finical loss if the car is damaged, destroyed or stolen.
Insurance Shopping Expert Tip: "In our experience show cars vs week end warrior classic cars need different coverage options and we have the perfect classic car packages for both."
What Are Some Things To Consider When Buying Classic Car Insurance in South Carolina?
- Is your car an antique, classic or vintage?
- How often do you intend to use the car?
- Will you keep it stored in a locked garage?
- How unique is the vehicle?
- What is the value of the vehicle?
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What Do I Need To Know About Classic Car Insurance In South Carolina?
Why Do You Need Classic Car Insurance?
Owning a classic car can be a great source of enjoyment and excitement. But it requires a different level and kind of care. With a normal vehicle, the value of the car is understood to depreciate as the car ages and is used even if the owner takes care of it. Classic cars' values only rise as they age, as long as they are cared for and maintained. Normal car insurance will also only pay up to the actual cash value of the car at the time it was damaged or totaled. A classic car insurance policy will ensure the car's value at agreed guaranteed replacement value. The amount of money you would receive if the car is lost or stolen won't go down as the car ages. Another big reason you need classic car insurance instead of traditional car insurance is premiums are often far lower for classic car policies. Insurance companies understand that classic cars are used differently, they aren't used to go pick up the kids from school and practice or used to make grocery runs. They are also cared for as a labor of love by their owners. Owners invest much time and money into the upkeep of their prized possession and the lower premiums reflect all of this.
More South Carolina Classic Car Insurance FAQ's:
More South Carolina Car Insurance FAQ's: