Ieuter Insurance Group Blog

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Classic Car Coverage

Summer is here! It is time to uncover those classic cars and get them on the road. Insuring a classic car is a bit different from a regular car. If you own a classic car or are looking to buy one, Ieuter Insurance Group can help you get the coverage you need to protect your investment. 

When insuring a classic car, make sure you get insurance that covers the full value of the car, not just the book value. A well-restored classic is worth a lot more than the book value. Classic car owners should look for a policy that has stated value and agreed value. This will ensure that, if the vehicle is wrecked, your settlement will be more in line with the actual value of the car.

Did you know that some insurance companies may only cover classic cars if the principle driver has five years or more of driving experience? Some policies may also specifically prohibit allowing anyone with less than the required experience level from driving your classic. Be sure to ask your agent about required driving experience.

If you are in the process of restoring a classic, you can adjust your policy to fit your work in progress. Ask your agent about coverage for the vehicle while it is in process of getting a makeover.  It may look a little rough at the moment, but you still need to protect your investment.