Here in Southern California, we love our classic cars and know that yours is probably your most cherished possession. However, before you take your pride and joy to an auto show or just out on a beachfront drive, it is important to have the right level of insurance coverage. This is where our team at Western Republic Insurance Services can help.
Classic car insurance is a policy type that is specifically designed for antique or collector autos. It isn't too far removed from regular auto insurance, as it still includes the same type of first and third-party coverages you've always had on your everyday commuter vehicle. However, the biggest difference between classic and regular auto insurance is stated value.
Stated value means that you are taking out the insurance policy based on a set figure instead of replacement cost. The amount is usually determined by a professional appraisal or other similar means. If the car is ever a total loss or stolen, the policy would use this number during the claims settlement process. The reason why this is done is because classic cars do not depreciate the same way regular vehicles do. Furthermore, this method allows you to take into account any specialty or custom work you've done to the vehicle.
At Western Republic Insurance Services, we are proud to be independent insurance agents. This means that we work with a multitude of different carriers instead of being tied to just one. In turn, having a multitude of different companies to pick from allows us to offer our clients added flexibility in coverage and affordable pricing.
Find out more about our classic car insurance program. Please contact us today for further information or a no-obligation quote.