Detroit Michigan is known as the car capital of the world. At Premier Insurance Agency in Detroit, MI, we have an appreciation for all types of vehicles. We offer the classic car insurance our customers need to keep their investment safe.
One of the major benefits of a classic car insurance policy is they are usually agreed value policies. Standard insurance policies are often actual cash value, which means the insurance company will only pay the current blue book value of the vehicle. An agreed value policy means that you and the insurer agree upon the value of the vehicle. This value remains the same unless you renegotiate the policy. It doesn’t decrease due to depreciation, and it is a better reflection of the value or investment of your vehicle.
It’s suggested that you choose roadside assistance and towing coverage for your classic car. Classic cars are six times more likely to break down on the highway. Older vehicles are more prone to mechanical failure, so it’s a good idea to be prepared for the possibility it will stop on the road. The policy should include specifically flatbed towing with soft straps to avoid damaging your classic car.
Usage Impact on Premiums
With a standard auto policy, it’s assumed that you will be driving your car daily. Classic car coverage is often used for “Sunday drivers”, or vehicles that are driven for fun more than getting from place to place. Since they aren’t driven as often, they are often eligible for lower premiums because the risk to the insurer is lower.
If you need classic car insurance in Detroit, MI, contact us at Premier Insurance Agency. We believe you shouldn’t have to settle for a standard policy for an exceptional car. We can provide you with a policy that gives you the benefits of a classic car policy.