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isn’t usually a minimum value requirement, it is stipulated that a vehicle is worth more currently than when it was originally made.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.

Whereas auto insurance is designed for vehicles used for daily use, classic car insurance is meant for collector vehicles that are driven infrequently. Aside from usage, classic car and regular auto insurance also differ in the way that a settlement is determined for a total loss claim. Unlike traditional auto insurance that factors in depreciation, classic car insurance agrees on a set price for the value of your collector car at the time of purchase so that you’ll know exactly what the payout is if there is a total loss. Otherwise known as Agreed Value Insurance, this feature of classic car insurance helps to protect the entirety of the investment made in the vehicle which is often quite substantial.

To qualify for classic car insurance, a vehicle must be at least twenty-five years old or be deemed a collector/exotic value that has substantially appreciated in value. Keep in mind that classic car insurance is only for vehicles that are not driven regularly and there will likely be a mileage restriction regarding usage. Given that a collector vehicle is driven infrequently leading to a lower accident frequency, classic car insurance is often less expensive than regular auto insurance. 

If you own a classic car and are in the Wheat Ridge, CO area, give CO Insurance Specialist a call to learn about your insurance options. We’ll determine if your vehicle is eligible for classic car insurance and work hand in hand with you to establish an appropriate value for your collector automobile. Give the friendly and professional team at CO Insurance Specialist in Wheat Ridge, CO a call today to schedule a no-obligation consultation. 

When you buy a new car, you need to make some serious changes. If you have a loan or lease on the car, you have more insurance requirements to meet. This means that you might have a lot of decisions to make about your coverage options.

CO Insurance Specialist, which serves Wheat Ridge, CO, can help you choose the best new policy for your car. These are the reasons why you should consider getting a new policy for your new car.

You Need to Meet Mandatory Insurance Minimums

When you buy a new car, you need to make sure that you meet your state’s liability coverage. This ensures that you meet the legal requirements so that you can register your vehicle and protect others on the road.

You Need to Meet Lender Requirements

When you buy a brand new car, there is a chance that you are doing so with a loan. When you have a loan, you need to make sure that you meet the lender’s requirements. Usually, this means that you need to have collision and comprehensive coverage.

You Should Consider Gap & New-Car Replacement Insurance

If something happens to total your car, you need to have the assurance that your vehicle will be replaced. You will still be responsible for the loan, so gap insurance makes sure you are not stuck paying for a car you can no longer drive.

Get the Right Policy Today

CO Insurance Specialist provides many clients in Wheat Ridge, CO with insurance for new cars. If you have spent a lot of money on a new car, it makes sense that you want to make sure you have the right coverage. Contact the office if you want to learn more about your policy options.

There are numerous benefits to living in and owning a condominium in Wheat Ridge, CO. With a condo, you get a luxurious experience while also being able to own a private dwelling. Unlike a private home, you aren’t responsible for a variety of expenses, such as maintenance and lawn care, outside of your individual unit. However, like owning a home, you should seriously consider investing in condo insurance from a company like CO Insurance Specialist to protect your condo and personal belongings, and here’s why.

Condo Insurance Provides Replacement Coverage for Your Unit

As a general rule, a condominium will have a master insurance policy that takes care of the reconstruction of the building itself and any common areas in the event of a fire or other disaster. However, that coverage will usually stop at the exterior walls. In other words, the coverage will not pay for any damage that occurs inside of your individual unit.

Therefore, as the condo owner, you will be personally responsible for covering the replacement of any flooring, drywall, cabinets, light fixtures, etc. Without condo insurance, the money to pay for all of that will come right out of your pocket.

Condo Insurance Provides Personal Liability Coverage for Guests

In the event that someone is visiting your condo and gets injured, an individual condo insurance policy may be able to provide coverage for any personal liability that is involved. If you have someone over that causes damage to a common area of the condominium, the condo could potentially sue you. Your condo insurance policy may cover you in this instance as well.

Condo Insurance Provides Personal Property Coverage for Your Belongings

Every single day, vandalism, burglary, and theft occur. The inside of your condo can suffer damage from a kitchen fire, an electrical fire, or leaking plumbing pipes. A master condo policy will not provide coverage for events like these, and because of this, a personal condo insurance policy is necessary to ensure your personal belongings are covered in the event of a disaster inside your individual unit.

Contact CO Insurance Specialist to Purchase Condo Insurance Today

If you are ready to make the next move to protect your condo in Wheat Ridge, CO, contact CO Insurance Specialist today to discuss potential coverage options and let one of our agents tailor a condo insurance policy to your individual needs.

You have invested a ton of money in your absolutely gorgeous classic car or track, and you now want to protect it from all sorts of scenarios. The best way to do that is through having the proper classic car insurance in place in the experts at the CO Insurance Specialist in Wheat Ridge, CO can help you do just that

Coverage of Classic Cars

First of all, in the state of Colorado, your car must be at least 25 years or older to be considered a classic. Normally classic cars must be distinctive which means they must be a vintage vehicle, an exotic or luxury one, a muscle car, a vintage military vehicle, or the beloved hot rod. If your vehicle falls into one of these areas and classifies as a classic car, you will want to make sure that you have classic car insurance in place.

When it comes to basic insurance, you must have at least liability insurance in the minimum amount that is required by the state of Colorado to protect others in the event there is an accident when you are driving your classic vehicle on a public roadway. This should not happen very often since classic cars are not meant to be driven for everyday use. You could, however, be driving to her from a classic car show, parade, or another event, so you’ll still need to have this type of insurance in place.

You also want to have full coverage on your classic vehicle since it is an actual investment, more so than a regular car. This is due to the fact that classic cars actually increase in value as time goes by whereas other vehicles depreciate pretty much right after you drive them off the car lot. Your insurance agent that understands classic car insurance will be able to determine the amount you need to have since it is based on the agreed value of your vehicle versus the actual cash value like with regular car insurance

To decide upon the amount and type of classic car insurance you need for your vehicle, contact the experienced and trusted classic car insurance agents at the CO Insurance Specialist in Wheat Ridge, CO today to get your policy started immediately.