Category: Classic Car Insurance

Classic Cars: A Unique Insurance Requirement

Classic cars captivate our hearts, invoking a vintage era distinguished by the essence of elegance and craftsmanship. Intended for far more than just transport, these gems hold unique value, necessitating specialized protection. Falling beyond the scope of standard auto insurance policies, U.P. Insurance Agency Inc. in Negaunee, MI, offers expertise to safeguard your vintage ride. We provide comprehensive coverage, giving you peace of mind.

Working Mechanism of Classic Car Insurance

Classic car insurance is distinct from regular auto insurance. It considers defining factors such as age, value, and vehicle condition. Classic cars generally have limited usage and are meticulously maintained, so their insurance usually comes at a lower premium than standard auto insurance.

A unique feature of classic car insurance is its agreed-value policy. You and the insurance provider reach a specific valuation on your vehicle that will be paid out if it’s written off. Also, it often accommodates coverage for spare parts and restoration expenses, as these vehicles frequently require specialized maintenance beyond the standard policy’s scope. We recommend consulting with our agents to delineate your classic car’s specific needs.

Contact U.P. Insurance Agency Inc. for Classic Car Insurance

Your prized possession should have no fears about insurance coverage. At U.P. Insurance Agency Inc., we value the importance of your asset’s protection. Connect with our team today to commence your classic auto insurance quote.

If you have recently purchased or restored a classic car, you may be wondering what type of insurance policy is required to protect your investment of hard work, money, and time. While classic car insurance requirements and options in Michigan are similar to those in other states, there are some unique aspects to consider, according to the classic car insurance agents at the U.P. Insurance Agency Inc. serving the Negaunee, MI area.

Classic Car Insurance in Michigan

First of all, in the state of Michigan, your vehicle must be at least 25 years old and used only for pleasure or expedition purposes, such as car shows or parades, to be considered a classic car. You must always have a regular used vehicle on hand for everyday driving because most classic car insurance policies will limit the number of miles you can drive per year.

Classic Car Insurance Options

When it comes to your classic car insurance, it will be based on the agreed value policy. This is because this type of policy guarantees that if your car is a total loss due to a weather event, accident, or some other tragic situation, you will receive the full amount of the value of the car that was agreed upon when you started your policy, rather than a depreciated amount that a regular car insurance policy would pay out. This helps to protect the investment you made in your classic car.

You can also obtain auto liability coverage for your classic car, which is required under Michigan law when you’re driving your vehicle on a public roadway. This will help cover any damage you cause to someone else’s property or any injuries that are sustained in an accident that is deemed to be your fault.

Contact Us Today

To get your classic car insurance policy started right away and protect your investment, contact the insurance agents at the U.P. Insurance Agency Inc. serving the Negaunee, MI area today!

When your vehicle ages or you purchase a vehicle that’s at least 25 years old, you need to consider purchasing classic car insurance instead of regular auto insurance from U.P. Insurance Agency Inc.

Classic Car Insurance: What You Need To Know

Unless you plan to drive your classic car around Negaunee, MI like a regular car, you’ll want the protection of classic car insurance. It costs a bit less than regular auto coverage, but you can’t drive the car as many miles. In fact, a classic car policy limits you to about 1,200 miles per year. That’s a tenth of the typical US drivers’ miles.

The policy allows you to drive your vehicle in parades and show it at car shows. For the remainder of the time, you agree to store the vehicle in a covered garage.

That may sound like you give a lot up, but the insurance policy offers a payout that most auto policies don’t. It pays the full price of an exact replacement if your vehicle gets totaled. Since most classic cars literally cost more money than a house, this type of insurance policy pays off if you need to file a claim.

You benefit from having it in smaller ways, too. For example, if someone dings your vehicle and breaks the side mirror, the insurance pays for an OEM replacement part and the repairs. You get classic parts for your classic car with the same deductible you’d normally pay.

Give Us A Call

Contact U.P. Insurance Agency Inc. in Negaunee, MI for more information on classic car insurance. Let us help you properly insure your valuable auto. Ask us about classic car insurance for exotic vehicles, too.