Did you recently become the owner of a classic car? Maybe you have owned one for years, and you are looking for new insurance? Your vintage vehicle is your pride and joy so you want to have good insurance to protect your investment.

What is classic car insurance and why do you need it?

Classic car insurance is a specialized policy that is for vehicles that are:

• Used for pleasure driving, not for daily driving

• Classic cars are usually 20 years or older

• Classic cars have been meticulously maintained or have been restored to their original condition

What does a classic car insurance policy cover?

A classic car insurance policy offers the same coverages as a regular car policy. This policy can include personal injury protection, property damage liability, bodily injury liability, collision coverage, comprehensive coverage and underinsured/uninsured motorist coverage. For more information on non-classic car auto insurance.

Customization coverage can also be included. Customization coverage can include:

• Custom Parts & Equipment endorsements (CPE) such as upgraded wheels, sound systems, paint jobs, spoilers, or performance mods

• Spare parts coverage for extra or rare parts that are kept in storage

• Roadside assistance

Classic cars, unlike other vehicles, can increase in value over time. Due to this factor, it is important to differentiate between stated amount basis vs. agreed value coverage.

Stated amount basis is where the owner of the vehicle declares the value of the vehicle based upon market research, appraisals, and documentation. That amount is then used to determine the premium. While your premium may be lower, you could also end up underinsured and having to pay the difference of your insurance payout and the value of your vehicle in the event that your vehicle is totaled or stolen.

Agreed value coverage is where both the owner and the insurer agree upon the value of the vehicle. If the vehicle ends up totaled or stolen, then the owner would receive the full amount.

The difference between the two is that agreed value offers certainty while a stated value policy offers flexibility but with risk. At Brockman Insurance Group, we will walk you step by step on how your policy will work and how your vehicle will be valued.

Insurance companies can require classic car owners to provide:

• Photos of the vehicle

• Receipts/invoices for custom work

• Appraisals from certified professionals

Classic vehicles must not be a primary vehicle, must be stored in a fully enclosed and locked structure such as a garage, and can have a mileage limit placed upon them.

Classic car insurance can cost less than a regular auto policy depending on the situation. We invite you to call us today at 407-644-9991 to set up an appointment with one of our agents. We can explain all of the ins and outs of a classic vehicle policy. Don’t hesitate to make an appointment to meet, it won’t cost you a dime for a brief meeting to discuss policy options or to review your existing policy.

In addition to classic car insurance, we also offer homeowners insurance, condo insurance, flood insurance, as well as coverage for RV’s, boats and renters. Our Altamonte Springs office is located at 721 Maitland Avenue. We are near I-4 and conveniently located near Downtown Orlando, Maitland, Longwood, Lake Mary, Winter Park and Sanford. Call us today and let’s talk about your classic car insurance needs, 407-644-9991!