Finding the best NJ classic car insurance really depends on your specific needs. Perhaps what you want is just basic coverage, since you rarely drive the vehicle. Or, you’re looking for the best customer service when it comes to filing claims or adding or subtracting coverage on your policy, or your concerns lie in finding suitable parts when damage occurs to the vehicle.
In order to obtain the right NJ classic car insurance, remember that, for the vehicle to be considered a classic car, it must be at least 30 years old. The policy should be unbundled from a traditional policy for affordability, since insurance for a collectible automobile assumes that the owner drives a different vehicle for everyday use, which results in a reduction of risk where their vintage model is concerned.
Coverage should account for the fact that these cars rarely depreciate, and in fact, the opposite is true, so the full investment in the car needs to be covered. While any car that is at least 30 years old qualifies as a vintage model, rarity of the car model may also be taken into consideration.
Other factors that determine necessary coverage amounts
Coverage needs can differ from car to car and from owner to owner. Some owners only drive the car once or twice a month, at most. Others may show their classic cars only in auto shows or parades, while others may allow other people to drive the vehicle. These factors will determine the type of policy you’ll need. For example, if an accident occurs at a car show resulting in an injury, you can benefit by having medical reimbursement insurance for that particular risk.
If the vehicle is damaged and you need to replace special headlights or suicide doors you’re going to need spare parts coverage, optional automatic coverage for purchases made (up to policy limits), or comprehensive insurance that provides broader protection.
Many insurance providers have limitations on the number of miles added to the car each year. After all, a classic car may be difficult to repair after an accident because certain parts may not be available or quite difficult to find. Fortunately, most NJ classic car insurance policies will cover the vehicle as long as you follow any stated limitations.
Owning a classic car means that your risks and concerns will be very different from the needs of drivers of a newer model car. Make sure to invest in coverage that specifically addresses classic vehicles, and contact an agent for more information concerning your needs.