If you own a classic car that you have restored or invested money in, you may not realize that regular auto insurance may not fully cover the value of your restored or rebuilt car. This is why you may need classic car insurance. Unfortunately, the staff at CO Insurance Specialist, serving the greater Wheat Ridge, CO area, have seen that many people have never heard of classic car insurance or make the mistake of insuring their classic car with regular auto insurance. Here are a few reasons why you should have classic car insurance versus standard auto insurance for a rebuilt classic vehicle.  

Classic Car Insurance Covers Your Car Based on an Agreed Upon Value

Traditional auto insurance values vehicles based on their Bluebook value. They do not consider that some older vehicles may be worth more if they are restored or rebuilt. When you purchase a classic car insurance policy, you and the insurance company agree on the value of your classic car, ensuring your vehicle is insured for its true value. 

Classic Car Insurance Covers Add-On or Aftermarket Parts

Another reason why classic car insurance is essential to have is that classic car insurance helps to cover add-on parts or aftermarket parts. These parts can be pricey, but they are not usually covered under regular auto insurance policies. Classic car insurance covers these expensive parts you have purchased for your car.  

If you have a rebuilt or restored classic vehicle, traditional auto insurance may not value the car as high as you do. This is why classic car insurance is so important. If you have a classic vehicle in the greater Wheat Ridge, CO area, the team at CO Insurance Specialist can help you obtain classic car insurance. Reach out to us today to get started. 

Anyone that lives in the Wheat Ridge, CO area will want to know that they have an efficient way to get around. Owning a vehicle can ensure you can get around and enjoy all that the community offers. If you purchase or lease a vehicle, getting auto insurance will be a necessity. There are various reasons why this coverage should be considered necessary. 

Mandated as Legal Requirement

Anyone in this part of Colorado will need auto insurance because it is mandated as a legal requirement. If you are going to drive any vehicle in this state, you need to meet the set insurance standards. This will typically require that you at least have liability coverage. If you have leased the vehicle or taken out a loan, the financing company will also require collision and comprehensive protection. 

Protect Investment

You also should get an auto insurance plan to ensure you are protecting your investment. If you choose to buy a car, you will want to use it for a long time. A great way to protect this is by getting an auto insurance policy that has full coverage. In this situation, you will have support if your car is damaged or stolen. 

If you buy a car when you are in the Wheat Ridge, CO area, you will want to know that you are adequately insured. The professionals with the CO Insurance Specialist can offer any support needed to build your next insurance plan for your car. If you call the CO Insurance Specialist, they can provide a personalized assessment that will also ensure you are aware of all needs and coverage options. 

Wheat Ridge, CO area car enthusiasts are fortunate to have the CO Insurance Specialist team available to help them with all of their insurance needs. We are here to help you make sure that your classic car has the right policy protecting it.

Owning a classic car is a commitment

Anyone who owns a classic car understands that it’s not a hobby. It is a commitment. And, there is typically a lot of financial investment that goes along with owning this type of vehicle. Because of this, you want to make sure that your classic car policy provides the coverage that you need.

There are a number of different factors that can impact your decision when you are selecting your policy:

• How often do you drive the vehicle?
• How far is it driven?
• Do you store your car at home or off-site?
• Is it stored in a temperature-controlled area?

These are just a few of the questions that you should review with your insurance agent. Depending on your answer to the above queries, your insurance needs may be different than what you expect.

Owning a classic car is a serious joy, and with that joy comes a strong sense of responsibility. You want to make sure that your vehicle has the necessary coverage in place now and for the foreseeable future. Now is a perfect time to review your classic car policy.

We are here for you!

If you live in the greater Wheat Ridge, CO area and own a classic car, it’s time to get to know the CO Insurance Specialist team. We are here to help you find the right policy and protection for your classic call. Give us a call today and set up your consultation. We look forward to working with you!

If you own a classic car in Wheat Ridge, CO, you know there isn’t much that can compare to taking it out on a nice afternoon for a ride that turns heads. Whether you own a classic car or are considering purchasing one, it is important to understand that these vehicles require a different type of insurance policy than the standard automobile. CO Insurance Specialist shares a few things you should know about classic car insurance.

How Do You Become Eligible for Classic Car Insurance?

Most auto insurance companies have a specific list of requirements to be able to insure a classic car. Though there isn’t usually a minimum value requirement, it is stipulated that a vehicle is worth more currently than when it was originally made. Further, the vehicle usually needs to be at least 10 years old.

Insurance companies will also take into consideration the condition of the vehicle. It should be running (or close to it) and in good shape overall. The vehicle is required to be stored indoors and maintain low mileage. There will generally be a set number of miles that the vehicle can be driven each year.

What Is the Difference Between Standard and Classic Auto Insurance?

Both standard and classic auto insurance offer the main types of protection, such as collision, comprehensive, and liability. Classic car insurance simply takes things a step further based on the very unique needs of older vehicles.

For instance, it will take into account the higher costs of a collision, as classic models will typically cost more to repair due to the need for rare mechanical skills and lack of available parts.

Classic car insurance is designed specifically for the higher expenses and needs of a vintage or antique car.

If you have any questions about classic car insurance in Wheat Ridge, CO, contact the professional agents at CO Insurance Specialist.

As a driver, you want to carry auto insurance so you, your vehicle, and other motorists are protected. As you begin shopping for auto coverage, you will find there are multiple types of policies available. Each of these policies offers different protection. The two most common types of auto insurance are liability and full coverage. CO Insurance Specialist, Wheat Ridge, CO, shares some information on what differentiates the two.

Liability Auto Insurance Coverage

Liability insurance coverage will cover the cost for any vehicle damage or personal injuries that occur to other motorists when you are deemed at fault for an accident. Most states require that you carry a minimum amount of liability insurance. This amount varies from one state to the next. 

It is important to understand that this liability coverage fails to cover any kind of personal expenses you may incur as a result of the accident. As a result, when you only have liability insurance for your vehicle, you are assuming a much higher amount of risk personally. With that being said, liability insurance is usually only opted for older vehicles that don’t have a high monetary value.

Full Coverage Auto Insurance

When you are equipped with full coverage insurance for your vehicle, you have the aforementioned liability coverage as well as collision and comprehensive coverage. The collision insurance coverage protects you by paying for the vehicle repair costs after it sustains damage from an object or another motorist, regardless of who is found to be at fault. The comprehensive insurance coverage will pay for repairs that are not related to an auto collision, such as hitting a deer or vandalism. 

You have much greater coverage when you purchase this type of insurance. The potential out-of-pocket expenses in the event of an injury or accident are lower. Further, if you are leasing or financing your vehicle, this coverage is generally required by your lender or the dealership.

If you have more questions about liability and full coverage auto insurance, or if you need help putting together the right policy for you, contact CO Insurance Specialist, Wheat Ridge, CO, for professional guidance.