Shopping for classic car insurance can be a little more involved than purchasing a typical auto insurance policy. If you’re looking to insure a classic automobile in Massachusetts, here are some questions to ask when comparing policies. These should help you identify which policy best meets your needs.
When Purchasing Classic Car Insurance for an Automobile in Massachusetts, What Questions Should I Ask?
Are Drivers Required to Have a Minimum Amount of Experience?
It’s somewhat common for classic car insurance policies in Massachusetts to have minimum experience requirements. Some policies will only insure automobiles if the primary driver has at least five years of driving experience, and a few policies have minimum requirements for anyone who drives the insured automobile.
You’ll probably want to ask this question regardless of how many years you’ve been driving. Even if you’ve been driving for decades and are sure you have any required experience, you should still find out how many years of driving experience other drivers must have. You don’t want your policy’s coverage voided by an inexperienced child or grandchild who gets behind the wheel. Find out how many years other drivers need so you’ll know who you can let drive your classic car.
Is Appreciation Covered by the Classic Car Insurance Policy?
Typical car insurance policies don’t usually cover appreciation since most cars don’t appreciate in value. They depreciate, instead.
Classic auto insurance policies, however, sometimes offer coverage for appreciation. This is often the best way to ensure that a classic automobile which might increase in value is fully insured. If you think your car might be worth more in a year than it is now, look for a policy with this coverage.
How Are Replacement Parts for Damaged Components Sourced and Covered?
The parts that are used to replace damaged components can greatly affect a classic automobile’s appeal and value. Procuring original parts, or even reproducing them, can be an involved and expensive process, though. In addition to paying for the parts themselves, it can take a lot of time to simply find them.
Find out what coverage any classic auto insurance policy you’re considering covers damaged parts.
First, determine whether a policy will pay for the quality of parts that you’d want to replace damaged components with. For example, figure out if a policy will cover having a piece custom made if no suitable replacement can be found.
Second, check whether the insurer will provide any parts location services. An insurer who will pay for a parts location service or offers such a service themselves may save you hours hunting down parts.
Is Coverage Provided While a Vehicle is Being Restored?
Some classic auto insurance policies provide limited coverage for vehicles that are being restored. If your automobile is in the process of being brought back to life, make sure the policy you select will provide coverage throughout the restoration process.
Also, check whether the policy will provide coverage where the restoration is being done. If, for instance, the car’s in a friend’s garage while you work on it, confirm that coverage extends to your friend’s garage.
Work with an Independent Agent in Massachusetts
These are just a few of the many questions you should ask when looking at classic car insurance policies in Massachusetts. For help knowing what other questions to ask, contact an independent insurance agent who’s familiar with this type of insurance. A knowledgeable, independent agent will know what questions to ask insurers, and they’ll be able to ask any insurer in the state for you. With their assistance, you’ll be able to find a classic auto insurance policy that will best cover your precious automobile.