1969 Chevrolet Camaro.
It’s not news that everyday vehicles generally depreciate in value, while collector cars can appreciate rapidly. But did you know your insurance coverage could – and should – reflect that difference? If you own a collector car and you’re insured by a standard insurer, that’s good news.
That’s because the cost of insuring a collector car through a specialty insurer like Hagerty is often significantly cheaper than insurance you can get from the big guys. Since specialty insurers understand the risk for loss is far less in a collector car than in a regular-use vehicle, the premiums are often as much as half the cost of a standard policy.
When it comes to collector cars, most auto insurers determine what they – not you – believe is the Actual Cash Value of your vehicle at the time of loss. Others may offer a pre-determined Stated Value, which may cover you “up to” your policy limit. Hagerty offers a Guaranteed Value policy, which means the car’s value is decided and agreed upon by you and Hagerty. Then, if you suffer a covered total loss, you get the full value of your policy, with no depreciation – guaranteed.
It translates to lower rates for better coverage – a no-brainer for anyone with a classic car.
For those who already understand the advantages of specialty insurance, there’s still the question of which specialty insurer does the best job. In a world where many competitors offer lower prices than standard insurers, what sets one company apart? Well, that answer is really up to the individual car owner, based on his or her preferences and needs. But upon closer inspection, this question is also basically a no-brainer.
Hagerty insures more collector cars than anyone in the world for several good reasons. Need help determining your car’s value? Hagerty employs more collecting experts and has more pricing tools than anyone. Worried about a smooth claims process? Hagerty’s claims adjusters are in-house, highly trained and work only on classic car claims. Concerned about the future of the hobby? Hagerty does more for hobby support than any of its competitors, from youth programs to lobbying to publishing their own hobby magazine.
In short, Hagerty has the most knowledge and understanding of cars and collecting, and that translates into a more complete and enjoyable experience for car owners. If you own a collector vehicle and you’re interested to know what they can do for you, you can find them at Hagerty or call them at 800-922-4050.
(This article is sponsored by Hagerty.)
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