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?
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Answered on Mar 12, 2021
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 (also known as 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’d like to learn more about this topic, check out this article: https://getjerry.com/advice/what-is-classic-car-insurance.
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