What is collector car insurance?

I am going to buy a vintage car. Someone told me I need collector car insurance. What is that? Is it different from the normal kind of insurance I usually have on my cars?

“Traditional car insurance will repair or replace your vehicle based on the depreciated value of the vehicle at the time of the loss.
Collector car insurance or classic car insurance is meant for older vehicles that have been restored or maintained to hold their value. Most companies offering collector car insurance will guarantee that your vehicle is insured for an agreed-upon dollar amount in the event of a total loss, rather than the depreciated value.
If you are shopping around for the best coverage for your classic car, try using the free Jerry app. Jerry compares rates from the top 50 companies and delivers the best deals to your phone in under a minute.”
Alexah Grinnell
Answered on Aug 09, 2021
Alexah Grinnell has been working in the insurance industry for 5 years with a primary focus of coverage consulting in the sales department. She has been working for Jerry Insurance since July of 2019 and has also has experience working for AAA and State Farm. She currently lives in Rochester, NY with her husband and 3 kids

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