Classic Car Insurance Requirements and Options in Michigan

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!