Why would someone need classic car insurance?

Owning a classic car is a dream for anyone that loves cars or is looking for an alternative investment. If you are going to purchase a classic car, you should carefully consider your insurance needs. There are several reasons why someone in the New Rochelle, NY area will need to get a classic car insurance policy as opposed to a standard auto insurance policy.

Classic Car Policies Offer More Coverage

One of the advantages of getting a classic car insurance policy is that it can provide you with more coverage for your vehicle. When you purchase a classic car, you are going to be getting a car that can be a significant investment that can appreciate in value. Due to this, you will want to make sure that you receive the insurance coverage that you need to protect the full value of the car. With classic car insurance, you can work with the insurance provider to negotiate the amount of coverage that you need.

Insurance Offers Realistic Liability Coverage

One unique part of owning a classic car is that you will likely not drive it very often. Due to this, the risk that you could cause an accident is much lower than it would be in an average car. Due to this, the classic car insurance provider will offer you an insurance policy that comes with liability insurance premiums that reflects this actual risk based on the mileage you drive. 

As you are shopping for coverage for your classic car in the New Rochelle, NY area, you should call Marenco Insurance. The team at Marenco Insurance can help you to pick a policy that will help to protect your vehicle. This can provide you with the coverage that you need to protect your classic car. 

Three differences between classic car insurance and standard auto insurance

Classic vehicle owners should purchase a classic car insurance policy rather than a standard auto insurance policy. If you own a classic vehicle in the New Rochelle, NY area, you can look into our policy offerings at Marenco Insurance. 

The following are three major differences between classic car insurance and standard auto insurance that you should be aware of. 

Generally speaking, classic car insurance doesn’t cost as much.

One of the best things about classic car insurance is that it is usually more affordable than standard auto insurance. On average, classic car insurance premiums cost almost 40 percent less than standard auto insurance premiums. 

Classic car insurance policies are designed for minimal vehicle use.

The main reason why classic car insurance is so much less expensive than standard auto insurance is that classic vehicles are typically used less than everyday vehicles.

Insurance companies can offer lower premiums on these policies because vehicle usage is less. This means the chances of a claim being filed on a particular policy are lower. 

Classic car insurance policies generally do not involve a deductible. 

Another great thing about classic car insurance policies is that they often don’t require any deductible to be paid before coverage kicks in. The deductible is an amount you have to pay out of pocket before you’ll get funds from your classic car insurance policy.

Not having to pay a deductible can save you a fair amount of money when it comes time to file a claim. 

Insurance coverage is required for classic cars out on the road, just like it’s required for standard vehicles. Shop for a classic car insurance policy by contacting our office. We offer insurance policies for classic car owners in the New Rochelle, NY area at Marenco Insurance