Artwork on wheels: Insuring your collector auto by Jonathan Winstel - The Cincinnati Insurance Companies blog

Artwork on wheels: Insuring your collector auto

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The things you love are always worth protecting; make sure your insurance is up to the task.

You’re an automotive enthusiast, a connoisseur of fine machines; only the best will do. Each car you own – whether it’s an exotic supercar, an antique muscle car or a limited production modern collector vehicle – is mechanically and visually perfect down to the minutest cosmetic detail. These are not just cars to you; they are rolling pieces of fine art where form and function meet in perfect harmony.

So when it comes to insurance, why not consider insuring their property damage coverage on a personal articles policy?

INSURANCE CONSIDERATIONS

As a serious collector, you display some of these vehicles in your personal garage, or you might drive some only occasionally.

With that in mind, ask yourself:

  • How do I properly insure these vehicles?
  • What are my coverage options for physical damage and liability?
  • Should I add them to my personal auto policy even if I do not drive them?
  • Do I need a collector car policy from a specialty carrier?

Many coverage options are available for insuring your automobile collection. Some insurance companies may offer a separate policy while some add the collection to an existing auto policy. Each option has its pros and cons. As an owner, you are looking for something that treats these vehicles like the pieces of artwork you know they are.

COVERAGE OPTIONS

When discussing options with your agent, you need to consider a few coverages. Review each option and ask about:

Agreed value. Coverage is provided for a pre-determined amount agreed upon by both the insured and the insurance company. Does this policy provide me with the peace of mind knowing that in a covered total loss, I will receive the full agreed value of the vehicle?

Glass. Does the policy provide coverage for the windshield and other vehicle glass? No matter how many coats of wax you carefully apply to the paint, your windshield could be damaged by rocks and road debris that can fly up and cause damage.

Spare parts. You might have an assortment of difficult-to-source and expensive spare parts for your auto. Is there coverage for these? You want to make sure that these often pricey components are insured.

New acquisitions. You’ve just purchased a vehicle from an auction on a Saturday, and the last thing on your mind is calling your agent to add this vehicle. Is automatic coverage included for a vehicle that you’ve just purchased?

Roadside service. With classic motoring, breakdowns sometimes occur. Is roadside service included to ensure your vehicle makes it home safe?

Insurance is often the last thing on anyone’s mind when they purchase a new collector car to add to their collection. Scheduling your auto collection on a personal articles policy can give you the best property damage coverage and ensures that you can enjoy your vehicles knowing they are covered to their full value.

Coverages described here are in the most general terms and are subject to actual policy conditions and exclusions. For actual coverage wording, conditions and exclusions, refer to the policy or contact your independent agent.