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McKeel Hagerty knows collector cars and insurance. As CEO of Hagerty Classic Insurance (www.hagerty.com), he has a lion's share of the vintage, sports and collectible market. Most important, he is an enthusiast and shares that passion, whether it is in judging at a concours d'elegance or presenting scholarships to advance the restoration of cars. Hagerty is eminently qualified to speak to this subject.
1 If your collector car is just for hobby and occasional use, you'll want a collector-car insurance policy. It will save you money over regular-use insurance.
2 Look for a policy with Agreed Value coverage. This means your car's value will not be depreciated at the time of a loss. Actual Cash Value (ACV) or Stated Value policies can potentially depreciate your car's value.
3 Make sure the insurance company specializes in collector cars and is staffed with those who understand the needs and costs associated ...
Source: HighBeam Research, 10 THINGS TO CONSIDER WHEN INSURING YOUR COLLECTOR CAR.(News)