Protecting the Classic and Antique Car: Specialized Auto Insurance Options in Moore and Oklahoma City

Posted by fordinsurance on September 17th, 2023

 Classic and antique cars hold a special place in the hearts of Moore and Oklahoma City enthusiasts. These timeless treasures represent automotive history and demand meticulous care and attention. When it comes to protecting one's classic or antique vehicle, standard auto insurance may not be sufficient. For the owners of these beauties, one needs to have auto insurance in Moore and Oklahoma City, OK, that is specifically tailored to fit classic and antique cars. 

1. Agreed Value Coverage

One of the key differences between standard auto insurance and classic car insurance is how the vehicle's value is determined. Traditional policies often use actual cash value (ACV), which factors in depreciation. In contrast, classic car insurance offers agreed-value coverage. This means the car owner and the insurance company agree on the car's value upfront, considering its rarity, condition, and historical significance. In the event of a covered loss, one receives the agreed-upon amount without depreciation.

Agreed value coverage provides peace of mind to classic and antique car owners in Moore and Oklahoma City, as it ensures that their cherished vehicles are adequately protected and valued.

2. Restoration Coverage

Many classic car enthusiasts invest significant time and money in restoring their vehicles to their original glory. Standard auto insurance typically doesn't account for the value of these restoration efforts. Specialized classic car insurance policies often offer restoration coverage.

Restoration coverage helps reimburse owners for the cost of restoring the vehicle to its pre-loss condition following an accident or damage. This includes expenses related to parts, labor, and other restoration efforts. This coverage is particularly crucial for classic car owners in Moore and Oklahoma City who are passionate about preserving automotive history through restoration projects.

3. Limited Mileage Policies

Classic and antique cars are usually not driven as frequently as daily drivers. Many owners take them out for special occasions, shows, or leisurely weekend drives. To reflect this limited usage, classic car insurance policies often offer limited mileage options.

Limited mileage policies stipulate an annual mileage limit for the insured vehicle, helping to keep premiums lower. These policies suit classic car owners in Moore and Oklahoma City who primarily keep their vehicles for display or occasional use, reducing the cost of coverage while maintaining protection.

4. Spare Parts Coverage

Finding original or rare spare parts for classic and antique cars can be a challenging and costly endeavor. Specialized classic car insurance may offer spare parts coverage, which helps cover the cost of sourcing and replacing damaged or lost original parts.

This coverage is precious for owners in Moore and Oklahoma City who are committed to maintaining their vehicles' authenticity and historical accuracy. It ensures that their investment in spare parts is protected in case of unforeseen circumstances.

5. Garage Storage Requirements

Classic car insurance policies often come with garage storage requirements. Insurers may require that the vehicle be stored in a secure, climate-controlled garage when not in use. This is because proper storage helps prevent damage from environmental factors and theft, reducing the risk to the insurer and ensuring the car's longevity.

Classic car enthusiasts in Moore and Oklahoma City should ensure that their garage facilities meet these requirements to maintain their insurance coverage.

Owning and caring for a classic or antique car is a labor of love. Specialized auto insurance in Moore and Oklahoma City, OK options cater to classic and antique car enthusiasts' unique needs. These policies offer features like agreed value coverage, restoration coverage, limited mileage options, spare parts coverage, and garage storage requirements designed to protect and preserve these automotive treasures.