Classic Car Insurance and You

If you are considering buying a classic car in West Bloomfield, MI, one of the things to consider is insurance coverage. The question arises whether the car can be added to your current auto policy, or, because it is a classic, it needs a separate policy. At Agency Advantage Insurance, we can go over your options to ensure your classic ride is properly "insured" to protect your investment.

Standard Classic Car Insurance

In Michigan, you may be able to add a classic car to your standard auto policy, but a specialized policy designed especially for classic vehicles is recommended. One of the reasons is that a classic car will be insured at its Actual Cash Value based on the current market value and depreciation is deducted.

Specialized Auto Insurance

When you choose specialized insurance for your classic vehicle, it will be covered based on an Agreed Value with no depreciation. This means if the vehicle is a total loss, the policy will pay out at the value agreed upon when the policy was initiated.

While a standard auto insurance policy is designed for vehicles that are used on a daily basis, specialized insurance is for classic vehicles that are minimally used for driving, such as in a parade, or at a car show or other event. The car is not used for daily commuting and is usually protected by being stored in a secure location.

The policy may also include coverage for original replacement parts versus aftermarket parts. It may also include coverage for repairs done by a classic car specialist. It may also include towing services that use techniques and tools that will not harm a vintage vehicle.

Contact Us

West Bloomfield, MI classic car owners can rely on our staff at Agency Advantage Insurance to focus on protecting your classic car investment. Call us today.