Call or Text Us (256) 355-8500 ☰ ˟
Logo
Español
Call or Text Us (256) 355-8500
  • Home
  • Get a Quote
    • AutomobileImage of right arrow
      • Auto Insurance Quote
      • Auto Quote Form (short)
    • Bonds
    • Business & CommercialImage of right arrow
      • Commercial Auto Insurance Quote
      • General Liability Quote Form
      • Business Owners (BOP) Quote Form
      • Builders Risk
      • Liquor Liability Quote Form
      • Workers Compensation Quote
    • Farm
    • Flood
    • HomeownersImage of right arrow
      • Homeowners Insurance Quote
      • Manufactured Home Quote
    • LifeImage of right arrow
      • Life Insurance Quote
    • Motorcycle
    • Recreational Vehicle
    • Renters
    • Watercraft & Boat
  • Customer Service
    • AutomobileImage of right arrow
      • Add Driver to Existing Auto Policy
      • Add Vehicle to Existing Auto Policy
      • Remove Driver from Existing Auto Policy
      • Remove Vehicle from Existing Auto Policy
      • Request Declaration and Coverages Page for Auto Policy
      • Request ID Card for Auto Policy
      • Send Declaration and Coverages Information to Lien Holder
    • Business & CommercialImage of right arrow
      • Add Driver to Existing Commercial Auto Policy
      • Add Vehicle to Existing Commercial Auto Policy
      • Remove Driver from Existing Commercial Auto Policy
      • Remove Vehicle from Existing Commercial Auto Policy
      • Request Declaration and Coverages Page for Commercial Auto Policy
      • Request General Liability Certificate of Insurance
      • Request ID Card for Commercial Auto Policy
    • Flood
    • HomeownersImage of right arrow
      • Request Declaration and Coverages for Existing Homeowners Insurance Coverage
      • Request Evidence of Insurance
    • Life
    • MotorcycleImage of right arrow
      • Add Driver to Existing Motorcycle Policy
      • Add Motorcycle to Existing Policy
      • Remove Driver from Existing Motorcycle Policy
      • Remove Motorcycle from Existing Policy
      • Request Declaration and Coverages Page for Motorcycle Policy
      • Request ID Card for Motorcycle Policy
    • Other
    • Recreational VehicleImage of right arrow
      • Add Driver to Existing Recreational Vehicle Policy
      • Add Recreational Vehicle to Existing Policy
      • Remove Driver from Existing Recreational Vehicle Policy
      • Remove Recreational Vehicle from Existing Policy
      • Request Declaration and Coverages Page for Recreational Vehicle Policy
      • Request ID Card for Recreational Vehicle Policy
    • Renters
    • Watercraft & BoatImage of right arrow
      • Add Watercraft to Existing Policy
      • Change Primary Operator on Existing Watercraft Policy
      • Remove Watercraft from Existing Policy
      • Request Declaration and Coverages Page for Watercraft Policy
      • Request ID Card for Watercraft Policy
  • Blog
  • Make a Payment
  • Resources
    • Switching Insurance Companies
    • Refer a Friend
    • Important Files
    • Calculators
    • Insurance Glossary
  • Testimonials
    • Testimonials
    • Decatur
    • Cullman
    • Priceville
  • About Us
    • About Akin and Associates, Inc.
    • Our Community Involvement
    • Switching Insurance Companies
    • Our Locations
    • Refer a Friend
    • Employee Directory
    • Privacy Policy
  • Contact Us
Home > Blog > Insuring Your Classic Car
MONDAY, JANUARY 17, 2022

Insuring Your Classic Car

So, you finally bought that classic car you’ve been eyeing for years. Maybe it’s a Gull-wing Mercedes, or a ’63 Corvette Sting Ray or a ’66 Alfa Romeo Spider Duetto. No matter. It’s your baby now, and you intend to pamper it. But you also want to insure it, and that has you thinking. You’ve been hesitating to buy insurance because you think insuring a car that valuable is going to be expensive. 
classic car driving down the road
That’s where you’d be wrong. Insuring a classic car is typically less expensive than insuring a modern car. Why? Because collectible cars are often pampered; not to mention, they aren’t equipped with as much technology. 

Does that mean that all classic car owners are benefitting from inexpensive policies? In actuality, about 50 percent of them are paying too much. Instead of doing their research or working with an experienced independent insurance agent, they’re simply covering their classic car with a standard policy. That means not only are they paying too much, but they’re probably not getting adequate coverage as well. 

The reason is simple: the minute you drive a traditional car off the lot, it depreciates in value, typically by as much as 11 percent. That means that a car you buy for $25,000 instantly loses $2,750 of its purchase value. Not so with classic cars, which usually appreciate in value over time. That means, if you buy a standard policy for your classic Mustang and it’s totaled, you get the depreciated value, not what your car is actually worth.  

An experienced insurance agent will understand the classic/antique car market. He knows that your classic car appreciates in value because it’s going to be pampered and probably driven a good deal less than a modern car. He’ll be able to get you the policy you need so that, if your car is in an accident or totaled, you’ll get a value based on factors like what similar cars sold for at auctions and collector’s sales, not on depreciated value. 

How much could you save on your classic car policy? Well, that’s going to be based on a number of factors, including what kind of driving record you have, how frequently you plan to drive your car and who drafts the policy. But in general, you could save 20 percent or more as compared with a standard auto insurance policy. 

Whether you already own a classic car or are considering buying one, it’s important to work with an experienced insurance agent who understands the nuances of the insurance market and can get you the best deal and the best coverage. Independent insurance agents are professionals who take the time to do their homework, all aimed at meeting your insurance needs. It’s always in your best interest to take advantage of their expertise. 

Protect your pride and joy. Call Akin & Associates Insurance Group at 256-355-8500 for more information on Decatur antique car insurance.  

Posted 9:38 AM

Tags: classic auto insurance
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2023
  • 2022
  • 2021
  • 2020

  • insurance(7)
  • coverage(5)
  • auto insurance(3)
  • business(3)
  • commercial(3)
  • auto(3)
  • professional liability insurance(2)
  • bop(2)
  • farm insurance(2)
  • high value home insurance(2)
  • car(2)
  • home insurance(2)
  • builders risk insurance(2)
  • liability(1)
  • general(1)
  • classic auto insurance(1)
  • life(1)
  • vehicle(1)
  • antique(1)
  • premiums(1)
  • life insurnace(1)
  • compensation(1)
  • rates(1)
  • classic(1)
  • workers compensation insurance(1)
  • damage(1)
  • owners(1)
  • fleet(1)
  • business owners policy(1)
  • credit(1)
  • workers(1)
  • employee(1)
  • requirements(1)
  • policy(1)
  • flood(1)
  • costs(1)
  • classic car insurance(1)
  • general liability insurance(1)
  • vehicles(1)
  • commercial auto insurance(1)
  • home(1)
  • score(1)

View Mobile Version
Carrier
Carrier
Carrier
Carrier
Carrier
Carrier
Carrier
Carrier
Carrier
Home| Get A Quote| Customer Service| About Us| Contact
Serving the Decatur, Priceville and Cullman Areas
Main Office:468 Highway 67 S. | Decatur, AL 35603
Call or Text Us: (256) 355-8500 | Fax: 256-355-8544
Social Social Social
Logo

Powered by Insurance Website Builder