There’s nothing more scary than being involved in a car accident. The crashing sound, the crushing of metal. If you are unfortunate enough to experience an accident first hand it will be a harrowing experience.
Once your initial shock is over and the situation is under control the concern for your vehicle kicks in. If it’s a classic car or a kit car you may become very concerned about whether your insurance will cover your accident. This is potentially a very real concern with standard insurance coverage.
Classic cars, and other cars with a high replacement cost (kit cars, exotic luxury cars, cars of historic importance) should be covered with stated value insurance instead of the industry-standard type of coverage which is based on what the insurance company has calculated the cost of the repairs to be. They can calculate this value nearly to the dollar on daily drivers such as Camrys and F-150s. But when it comes to 1969 Ford Mustang Boss 302s they don’t have the expertise (or the desire) to come up with a comprehensive coverage plan.
Companies such as Hagerty or Grundy have special policies designed to cover these specialty vehicles. You can find reviews for these companies at Classic Car Insurance Reviews.
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