In Florida, classic cars are all the rage and with good reason. Classic cars are absolutely stunning but having one without insurance coverage that is specially designed to protect it can be risky. For those that live in the St. Augustine FL area, the independent insurance agents with Tim Huber Insurance can help you find the policy that works best for you.
What is Classic Car Insurance?
Classic car insurance is a bit different than insurance on a typical automobile. For starters, classic car insurance is more focused on helping the owner restore the car to its original state in the event of an accident. It also helps to protect the car from things like weathering, every day wear and tear, and damage that may take place in the area where the automobile was stored. The value of this type of policy is also not based on the condition of the car or any other typical factors. The value of the policy is determined by a valuation of the car and that amount is guaranteed if the car is damaged, even if the policy is several years old.
How is Classic Car Insurance Different?
The biggest difference is that even as the car ages, the amount of pay out in the event of damage or the car being totaled does not go down. This means that if the car was valued at $25,000 when the policy was taken out five years ago, that is still the payout amount if the car is totaled. By contrast, if a typical car was valued at $15,000 five years prior, that car's value is going to depreciate meaning that the payout could be much smaller based on the value of the car as estimated at the time of the accident. In a state like Florida where there are a great deal of drivers and things like hurricanes where cars can be easily damaged, this type of policy is a must.
For more information if you live in the St. Augustine, FL area, contact Tim Huber Insurance today.
