Why Classic Car in Insurance is More Pricey that Average Auto Insurance
There are several reasons why insurance for classic cars is often more expensive than the average auto insurance. Often times, these reasons can help you get more out of an insurance claim for a classic car than for a typical passenger vehicle. If you are wondering exactly how much your claim should be worth, contact Jonesboro auto accident lawyer, Jason Shultz.
Value of Classic Cars Compared to Typical Vehicles
The first reason why classic car insurance is more expensive than average auto insurance is because maintaining a classic or collector vehicle is more expensive than the average vehicle. In order to be considered a “classic” car, the vehicle must meet certain requirements and must be well cared for by the owner.
Classic vehicles may require a good deal of maintenance just to keep running, and may require parts that are out-of-date, no longer being manufactured, hard to find and/or expensive. Keep this in mind if making an insurance claim for a classic car because the increased cost of repairs can increase the potential damages recovered. A Jonesboro auto accident lawyer can help you with making an insurance claim for a classic car and recovering the compensation to which you are entitled.
Classic car insurance can also be more expensive because there may be penalties for driving the vehicle too often. Some insurance policies put a cap on the mileage allowed, and may limit the owner to driving the vehicle only in certain circumstances, such as to and from car shows. This may vary by policy and company, so be sure you understand the terms of your policy.
Also remember that some car thieves may target classics because of their value. Insurance companies know this and additional theft insurance to protect your investment can drive up the cost of your insurance.
Contact Auto Accident Attorney Jason Shultz
If you need to make an insurance claim for a classic car or have more questions about classic cars in the law, contact a Jonesboro auto accident attorney at the Law Office of Jason Schultz for a free consultation about your claim today. Call us at 404-474-0804.
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