Classic Car Insurance

Classic Car Insurance in Annapolis Valley

Classic cars are popular with people both young and old in the Annapolis Valley. Older car aficionados have the chance to relive some of the best times of their younger days. Younger car lovers have the opportunity to view a slice of history and also remember great times from childhood. If you are fortunate to own or rebuild one of these great cars, it is very important to protect your investment with the right coverage. Let’s take a look at the example case of Simon L.

When Simon was a boy, he used to take long drives in the country with his brother, sister, mother, and father. Some days, the family would start out early on Sunday morning and drive all over parts of Nova Scotia. They would stop and look at farm animals and other times, they would go the ocean. It was a great time in Simon’s life, and he remembered the huge red sedan they all rode in. When Simon saw that exact same car last year, he jumped at the chance to buy it.

The old car was only a shell of its former self, but Simon and his brother gradually brought it back to life. It took over two years to restore the vehicle to pristine condition, but when the men admired their finished work, they knew it was all worth it. Simon knew he had to insure the car for its real value, so he talked to his insurance broker about a policy.

The insurance professional explained Simon’s options and advised him on the best type of antique car insurance for his special auto. This was one of the most important decisions Simon ever made, because two weeks later he needed to file a claim on the vehicle.

The car was severely damaged when the garage collapsed under the weight of a large oak tree in the yard. It had fallen over from a major storm one night. Thankfully, Simon took his broker’s advice and insured the restored car for its replacement value. Had he not done this, he would have lost thousands of dollars.

A Closer Look at Vintage Car Insurance

Vintage auto insurance is designed to cover all the hazards that a classic or antique vehicle may encounter. It is not the same as a standard Auto Insurance policy. This insurance is there to ensure your investment is protected and at the same time, comply with all Nova Scotia insurance regulations.

Do I Need Classic Car Insurance?

Antique auto insurance is usually taken out on cars at least 30 years old. However, some rare or collector cars can be considered “classics”. These cars should be in near stock condition, to qualify for true classic vehicle insurance. In addition, most of these policies only allow a limited amount of driving each year, and cars must be parked in a garage. If you plan to drive your classic car to work every day, you may not qualify.

Standard Antique Car Insurance

A standard policy covers your car for its estimated value and this makes it different from normal auto insurance. For example, there may be a huge difference between the market value of an old car and a classic that has been restored. Also, if you are a Nova Scotia driver you must comply with these regulations for insurance:

  • Accident benefits – will pay for certain medical bills, rehab and physical therapy services, and funeral expenses. It also may cover loss of income benefits.
  • Direct compensation property damage – in force since 2013. This changes the way some insurance claims are handled.
  • Third party liability – you must carry a minimum of one half million dollars in auto liability insurance.
  • Uninsured drivers – protects you if the other driver has no insurance, or if he or she has insufficient insurance to cover your claim.

Options for Vintage Car Insurance

Comprehensive and collision are very important coverage options, although not required by law. Collision coverage pays for damage to your classic auto if you are the “at fault” driver. Comprehensive covers a wide range of non collision claims like fire, theft, vandalism, and hail. Also, in Nova Scotia, many drivers choose to take out more liability coverage than the law mandates, to be safe. In fact, it is not unusual to carry one million dollars of coverage.

Before You Buy Classic Car Insurance

Your classic car is very important to you, and your insurance should provide total protection. At Russell Insurance Group Ltd we provide many important advantages to Annapolis Valley car owners. First, you can save a lot of money, because we are licensed, independent insurance brokers and we can find you the very best deals on vintage car insurance.

When you do business with us, you can enjoy the benefits of flat deck towing services to ensure your classic vehicle is not damaged. You also can get a policy with no appraisal required, and we can find you a good policy with low deductibles. The entire process of insuring your vehicle is fast and easy.

Don’t take unnecessary chances with your beautiful classic auto. Come to Russell Insurance Group Ltd today for an antique car insurance quote. You can call our main office at (902) 847-3274.

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