If you’ve decided to take the plunge and invest in a classic car, congratulations! You’re about to join a select group of enthusiasts who appreciate the beauty and history of these vehicles. But before you take your new ride home, there’s one crucial detail to take care of: insurance. While classic car insurance may seem like a straightforward process, there are a few pitfalls that many people fall into. This blog post will highlight five of the most common mistakes people make when buying classic car insurance.
1. Not Shopping Around
The first mistake people make is not shopping around for the best classic car insurance policy. Like any other type of insurance, a variety of companies offer classic car insurance, and it’s crucial to compare rates and coverage before settling on a policy.
2. Not Reading the Policy Carefully
Never assume that you’re getting the coverage you need. It’s important to read your policy carefully and understand what is and isn’t covered. Don’t hesitate to ask your agent for clarification if you have any questions.
3. Omitting Important Details
When applying for classic car insurance, it’s essential to be as honest and forthcoming as possible about the details of your vehicle. Omitting important information, such as prior damage or modifications, could result in your claim being denied if you ever need to file one.
4. Assuming All Classic Cars Are the Same
Not all classic cars are created equal, which your insurance policy should reflect. The value of your vehicle and the type of coverage you need will vary depending on the make, model, and year of your car.
5. Not Reviewing Your Policy Regularly
Your classic car insurance policy is not a set-it-and-forget-it type of deal. As your vehicle ages, its value will change, and you may need to adjust your coverage accordingly. It’s a good idea to review your policy every year to ensure it still meets your needs.
Get Classic car insurance in Surprise, AZ.
Classic car insurance doesn’t have to be complicated. By avoiding these five mistakes, you can be sure you’re getting the coverage you need for your valuable investment. Giles & Iten Insurance can help you find the right classic car insurance policy for your needs. Give us a call today to get started.