Florida Antique Car Insurance
If you live in Florida and your car is more than 25 years old, you need to have it covered with Florida antique car insurance. Most car collectors in Florida, with a fleet of cars know the importance of having a separate, antique car insurance policy. Keeping your antique car under a regular policy will not cover the value of the car in the event of occurrence. That is why a Florida antique car insurance policy is so necessary.
Florida Antique Car Insurance
Valuations Of Cars
Most collectors have more than money invested in their prized cars. Most collectors start out restoring a favorite car and the rest is history for them. A project such as car restoration is something to be proud of, especially if the owner performed most of the work. A lot of times they are redone and displayed in antique car shows throughout Florida and beyond. Car insurance policies are underwritten with a choice of three considerations with regard to value.
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Actual Cash Value – Established by the insurance adjuster
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Stated Value – Value as “stated” by antique car owner
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Agreed Value – Agreed upon value by car owner and insurance agency
In the event of an accident that results in a total loss of your antique vehicle, the claims adjuster just assigns a value to your vehicle. Whether you agree or not they have the final word on what you receive for replacement costs. Even with stated value, you will recover less than the stated amount.
Restrictions With Florida
Antique Car Insurance
Be forewarned about restrictions with Florida antique car insurance:
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Most companies will only allow you to drive your antique car up to 5,000 miles per year.
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You must carry the same amount or more in liability than you carry on your regular policy.
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The Florida antique auto insurance carrier must be an “A” company
At some insurance companies you must prove that you have an everyday vehicle in addition to your antique vehicle. There are others who require you to keep your antique vehicle in a garage.
Some antique car owners don’t drive their cars. Some are strictly for show. This definitely reduces their liability risk. Antique car shows are very popular. Having an antique car or fleet of cars is a popular hobby today. Just be sure you have the appropriate coverage.
Florida Antique Car Insurance
Suggested Coverage
Your Florida antique car insurance policy should have the same amount of coverage or more than your regular policy. Don’t forget your personal injury protection, required by Florida law. With the right company, you can also insure your parts. Because of the value of these vehicles, it is strongly suggested to carry enough collision and comprehensive to protect the car against theft,
Choosing A Florida Antique
Car Insurance Company
It’s important to choose your Florida Antique Car Insurance agent or agency carefully. Several things you may want to check out when obtaining coverage are:
1. How well do they know antique cars?
2. Does the company participate in antique car clubs?
3. Are they willing to use an “Agreed Value” form?
If you receive resistance or negative answers in any of these areas then you’re dealing with the wrong company. The right company is going to be well versed on antique cars and their value.
Filing A Claim With A Florida
Antique Auto Insurance Agent
With a regular policy, the claims adjuster and agent are in control of the type of repairs and recovery amount you receive. Most antique car owners want to ensure that original parts are used for repairs. To be sure that you receive a fair amount in case of loss, make sure you have that “agreed value” signed by you and your insurer for the amount you know your antique vehicle is worth before you accept the policy.
Florida Antique Car
Insurance Quotes
To the surprise of many, Florida antique car insurance is very reasonable. Of course the rate is going to differ depending on the factors to consider, and the options you choose, but if you are only driving it 5000 miles per year, your risk takes a nose dive.
If you want to be guided to the best sources for Florida antique car insurance, click on the quote tool at the top of this page to compare Florida antique car insurance quotes online from top insurance companies.
Get started finding Florida car insurance today!