http://globemoneywatch.com Wed, 25 Apr 2012 15:42:26 +0000 en hourly 1 http://wordpress.org/?v=3.0.4 http://globemoneywatch.com/classic-car-insurance/ http://globemoneywatch.com/classic-car-insurance/#comments Thu, 05 Nov 2009 07:16:12 +0000 admin http://globemoneywatch.com/?p=20 Your classic car could be substantially under insured and the standard car insurance company does not have the best insurance price for collector cars.  These insurance companies and their agents are not specifically classic car insurers.
In the auto insurance industry, there are three type of insurance available and two of those three will work with classic cars. First is the ACV, actual cash value and is for standard cars, not classics.
The Stated Value insurance allows you to state the value of the car allowing for you to over-depreciate that value. The Agreed Value is the insurance choice for classis car owners. This is the only insurance where you can cover your car for 100% of the agreed value and generally there are no deductibles. Your car cannot depreciate with the option.
Custom cars and hot rods can also use this speciality insurance. Have your documents ready when you go see an insurance agent since these cars are harder to value. Recent receipts as well as labor charges involved in the building of the car need to be shown to the agent.

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