Are you a classic car enthusiast? Do you need insurance coverage to protect your valuable car? Maschoff Insurance Agency LLC in Ankeny, IA is ready to serve you!
Machoff Insurance Agency is a full-service independent insurance agency. Our agents compare a network of insurance companies on behalf of our customers to help select the correct policy for a price that fits their budget. We carefully evaluate your special needs to find the best policies, taking the hassle out of buying insurance.
If you have a classic or antique car, you require classic car insurance to help protect it. Classic car insurance is a specific type of policy that protects classic or antique cars. Definitions of a classic car vary, but the Insurance Information Institute (III) states a car is a classic when it's 25 to 30 years old.
Classic car insurance helps to protect other expensive vehicles such as hot rods, vintage military vehicles, muscle cars, and luxury or exotic vehicles.
Standard car insurance offers some coverage for a classic car, but it may not cover the vehicle's total value. That is because standard policies consider age, mileage, and depreciation when deciding how much a car is worth.
If a classic car is restored or customized, it is worth more than its depreciated value. Because of this, a regular car insurance policy may not be enough to help cover the cost of repairs after an accident.
Classic car insurance generally includes coverages similar to a standard car insurance policy, such as comprehensive, property damage, collision, and liability for bodily injury.
However, unlike standard vehicles, insured based on actual cash value after considering depreciation, classic car insurance provides coverage for the car for an amount agreed upon by the owner and the insurer. The value of your classic car may increase over time. The coverage limit can be adjusted to reflect the new value.
Classic car insurance helps pay for restoration or specialized repairs if your classic vehicle is damaged. These costs can be typically more than the cost of repairing a regular vehicle. It helps pay to replace classic parts like engine components or wheels, which can be challenging to find and expensive to purchase.
The value and age of a car are taken into account when qualifying for classic car insurance. For example, a vehicle with classic car insurance generally cannot be used for everyday driving. A classic car policy can include mileage restrictions, and some insurers may require proof the car is appropriately stored, and you have another car for routine driving.
If you live in the Ankeny, IA, or surrounding Iowa area, contact Maschoff Insurance Agency LLC for all your insurance needs.
