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10 THINGS TO CONSIDER WHEN INSURING YOUR COLLECTOR CAR.(News)

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| May 21, 2007 | COPYRIGHT 2007 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

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 ...

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Source: HighBeam Research, 10 THINGS TO CONSIDER WHEN INSURING YOUR COLLECTOR CAR.(News)

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