Classic Car Insurance in Texas
You've put tons of time and effort into restoring your antique or classic car. But what would you do if it was ever involved in an accident, vandalized, or stolen?
At the Eichelmann Insurance Agency, we know just how much your vehicle means to you. This is why we are proud to offer classic car insurance coverage to our customers.
How Classic Car Insurance Works
Purchasing classic car insurance in Texas is quite similar to the process of buying a policy for your daily driver. However, there is one big difference between the two types of coverage—stated value.
Stated value is the exact amount a vehicle is worth at the time of policy purchase. A professional appraisal usually determines the figure, which the owner then agrees upon. If the car is ever deemed a total loss or stolen, the policy will only pay this amount and not replacement cost. The reason classic car insurance policies are handled this way is that antique vehicles do not depreciate the same way a regular car does. Plus, any specialty or custom work done to the car will be added into this number ensuring your investment is covered.
Classic Car Insurance: Risk and Rates
So, how do you know whether a classic car policy is a better choice than a regular auto policy? Generally speaking, insuring a classic car is much less expensive than a normal commuter car. The reasons for this is that classic vehicles are usually stored and not driven on a regular basis, greatly lowering the risk of the vehicle ever being involved in an incident. By decreasing the risk, this often allows for lower premium rates. However, this can vary so it is always important to discuss your situation with your agent.
As independent insurance agents, our team has a bit more flexibility when it comes to insuring a classic car. We work with a multitude of different carriers to help you find the one that meets your needs the best. Whether you want to show your vehicle overseas or simply just drive it around town, we have an affordable partner that can help.
For more information or a no-obligation quote, please contact us today.