Classic Car Insurance in New York
As any classic car collector knows, no classic car is made the same; and therefore, each vehicle requires a different insurance policy. The agents at Windgate Insurance Agency Inc are experts in the various coverages available to classic car owners. If you live in the New Windsor, NY area, reach out to an agent to discuss protecting your classic car today.
One of the first items to consider when insuring your classic car is the value of the vehicle. With a standard auto policy, the insurance company will pay you the value of the car minus any depreciation. Classic cars, however, appreciate in value over time, so it is critical to obtain an insurance policy for the correct amount. There are a few ways to value a classic car:
Stated Value: For this value, you and the insurance company will agree on the value of the vehicle. It will be necessary to revisit this number at each policy renewal to make sure it does not need to be adjusted.
Agreed Value: The agreed value would be the value that is determined by a licensed appraiser.
When purchasing a classic car insurance policy, you will also want to consider how many miles you need to drive the car in a policy year. Each insurance carrier has different restrictions on how many miles the vehicle can be driven, so you need to make sure you pick a mileage limit that meets your needs. Keep in mind that no carrier will cover the car if you plan to drive it to and from work every day.
Parking and storage
Most insurance carriers require that the car be parked in a garage. Before purchasing a policy, you will want to make sure your garage meets the standards required by the insurer. Due to the harsh winters in New Windsor, NY, it might be wise to store it in a specially designed facility for the winter months.
If you are interested in learning more about classic car insurance, visit us at Windgate Insurance Agency Inc. We are happy to assist with all your insurance needs, we proudly serve the New York area.