Top 4 Reasons to Buy A Classic Car Insurance Policy
4 Collector Car Insurance Myths
The collector car insurance market is changing. The vehicles people collect, who collects them and how they’re used has gotten much broader in recent years.
As much as things have changed, there are still plenty of myths hanging around from
the old days that could be causing you to not enjoy your vehicle as much as you’d like.
1. Collector Car Insurance is only for old cars
The reality is, it’s not just about “classics” anymore. People are collecting cars from the
‘80s, ‘90s, 2000s and even brand new performance vehicles. Case in point: Hagerty®
has just been announced as the official insurance partner for the new 2018 Dodge
Challenger SRT Demon, a modern-day muscle car producing 840 horsepower.
Hagerty protects collectible vehicles people love and use primarily for fun – not the
daily drivers they need. This includes cars, trucks, SUVs, motorcycles and much more.
As collectors search for the right car that fits their personality and desires, it’s not always an older car that fits their needs. Sometimes it’s a newer car that does the trick.
2. SPECIALTY POLICIES ONLY ALLOW DRIVING IN PARADES AND CAR SHOWS
Collector car insurance has a reputation – well-deserved, in some cases – for restricting usage to hobby-related driving, like car shows and parades. But for most people, owning these cars isn’t just a hobby – it’s a lifestyle. They drive them for fun on the weekends, to work on nice days and even take them on road trips.
At Tristar Insurance Services, we believe driving is an important part of owning a collector car, and allow for plenty of pleasure driving. And because we want the whole family to participate, we represent insurance companies that may allow youthful household drivers in most cases.
3. EVERYDAY INSURANCE PROTECTS COLLECTOR CARS JUST AS WELL
The truth is that everyday actual cash value or stated value policies treat your client’s
collector like a used car by factoring in depreciation when paying out claims. That’s a
problem, because collector cars maintain or appreciate in value. Tristar Insurance Services has partnered with top insurance companies that may allow you to set a value to your cars, and then pays out that amount in event of a covered total loss, less any deductible or salvage value. (ask us about these specific details)
By representing top collector car insurance companies, we help our clients set accurate values for their vehicles, and, if there’s a claim, you’ll be working with company adjusters who are trained in collector vehicle repair. These top insurance carriers even have parts specialists who help clients find rare parts.
4. IT’S NOT WORTH YOUR TIME TO FIND AN INSURANCE AGENT FOR YOUR COLLECTOR CAR POLICY
After more than 20 years of insuring everyday cars and trucks, we’ve learned that protecting collector cars is a unique specialty and requires the right insurance company and coverage. We can match these two for you.
Most of our collector car clients are members of clubs and have assets to protect, including homes, recreational vehicles, businesses and much more. They’re part of a large, well-connected, passionate and accessible community that very few agents are able to help.
By representing some of the Top and most Respected Collector Insurance Companies in the collector car space – you’ll be glad you chose Tristar Insurance Services to help you with your collector car insurance.
