Owning a vintage or collector vehicle is a passion that brings immense satisfaction, but many enthusiasts hold misconceptions about how to insure these special automobiles properly. Standard auto insurance policies often fall short when protecting classic cars, leaving owners vulnerable to significant financial losses. Curtis Miller Insurance in Parkersburg, WV specializes in helping collectors understand the unique insurance needs of vintage vehicles and avoid costly mistakes.

Regular Auto Insurance Is Not Enough

Many classic car owners assume their regular auto insurance will adequately cover their vintage vehicle. This is rarely the case. Standard policies typically only pay actual cash value, which for older vehicles often means very little compensation. They don’t account for restoration costs, appreciation in value, or the specialized parts needed for repairs. For example, your 1967 Mustang restoration might be worth $45,000, but standard coverage could value it at just a few thousand dollars.

Agreed Value Policies Require Specific Conditions

While agreed value policies are better than standard coverage, many owners misunderstand the terms. Agreed value doesn’t guarantee you’ll receive that amount under all circumstances. The vehicle must meet certain conditions, such as being stored properly and driven only a limited number of miles annually. Some policies also require regular appraisals to maintain the agreed-upon value amount.

Specialized Repairs Are Essential

Another misconception is that any repair shop can work on vintage vehicles. Classic car insurance often requires using approved shops with experience in restoration work and access to period-correct parts. Using the wrong facility could void your coverage or result in improper repairs that diminish your vehicle’s value.

Understanding these nuances is crucial for protecting your investment. Contact Curtis Miller Insurance in Parkersburg, WV today to discuss specialized coverage options that truly protect your vintage vehicle’s value.