Collector Car Insurance Nevada

How do you know your vehicle is eligible for collector car insurance? And, just how do you define what a collector car is? I have some good news, the category is pretty big at this point and it only keeps getting bigger. Sports cars, vintage trucks, hot rods, and even exotics. And, of course, you still have the antiques. Collector cars are a hobby that grows every year with different interests and styles.

Lucky for you Hagerty insures just about all of them. But first let's talk about the three ways your collector or antique car gets valued. Collector car insurance is divided into three types. We'll start with Actual Cash Value or ACV as it's known. Actual Cash Value is the method your everyday car or commuter is subject to. This means you get paid the "book" value of the automobile or it gets repaired, whichever amount is less. This is also known as the depreciation method.

Next on our list is Stated Value auto policies. You can find insurance companies who offer Stated Value policies for collectibles. A stated value policy is better for you because you get to "state" the value of your collector vehicle. However a Stated Value policy can still depreciate in this respect, your collector car may have attained more value since the original stated amount. The company is only obligated to pay you up to the Stated Amount.

And now for my favorite, Agreed Value. An Agreed Value policy guarantees you will get the full value of your vehicle in the event of a total loss. There is no depreciation with an Agreed Value policy. You can even write what we call a "course of construction" policy and adjust the value upward as you complete the restoration.

You would be surprised how many collectors don’t know the difference between the three.

Remember when I mentioned Hagerty earlier? Guess who writes agreed value policies? That's right Hagerty offers only Agreed Value coverage to its customers. And don't worry about owning multiple classic cars. Hagerty charges one flat rate for liability and then an amount for the value of each vehicle. You can only drive one vehicle at a time, right?

Accurate Insurance proudly represents Hagerty Collector Car Insurance. Get a quote today for your vehicles Agreed Value. Don't let something happen and have to accept anything less than your vehicle’s true value. Often these aren't your daily driver so the premium will be extremely reasonable.

Get Collector Car Insurance Today!