Specialty Auto Insurance
Auto insurance is one of the most commonly purchased coverages, but sometimes a standard policy may not be enough. For those who own certain types of cars or other vehicles, it may be necessary to further protect your property by obtaining extra protection.
What Is Specialty Auto Insurance?
Specialty auto insurance is a perfect fit for car enthusiasts or those with rare vehicles. It provides similar coverage to a standard auto policy in terms of property damage and bodily injury liability protection but may also include additional provisions, such as:
- Determining your vehicle’s value—You and your insurance provider will work together to agree on the car’s value. It will then be covered for that amount without depreciation.
- Getting repairs and replacement parts—Specialty auto insurance policies usually include provisions that allow you to take your vehicle to specialists for maintenance and purchase specific parts, even if they may be more expensive.
- Towing—In most cases, specialty auto coverage can help policyholders pay to transport their vehicles via towing.
Who Needs Specialty Auto Insurance?
This type of policy can protect your investment and is recommended if you own one or more of the following types of vehicles:
- Antique or classic vehicles
- Hot rods
- Custom-built vehicles
- Show cars
- Race cars
- Exotic or luxury vehicles
Age alone will not qualify a vehicle for special auto coverage. In most cases, providers will require the following criteria be met:
- Limited use—Vehicles used for everyday trips or that exceed certain mileage limits may not qualify.
- Safe storage—You may be required to prove your vehicle is stored in a secure and enclosed structure, such as a private garage or storage unit.
- Good driving record—If records show you are not a safe driver, providers may not be willing to offer you specialty auto coverage.
Get the Right Coverage
Vehicle enthusiasts often spend not only large amounts of money but also considerable time on their collections. Purchasing, restoring and maintaining these automobiles is a significant investment that must be adequately protected. Fortunately, R Hobbs Insurance is well equipped to help provide the right coverage. Contact us today to learn more and to receive a quote.