Classic Car Insurance in Lindsay

Countless hours are spent restoring antique and classic cars by enthusiasts. Preserving these automobiles involves a great deal of time and money. In order to protect your investment, it is vital that you have adequate classic car insurance.

Shortly after he left a local car show in August of 2015, a classic car owner was involved in a crash when he was not able to maneuver a turn at his current speed. Instead of turning as he intended, the vehicle spun and continued to go straight, crashing into and flying over a guardrail. The vehicle overturned and finally came to a rest on the hood. While the driver's injuries were not severe enough for him to be transported to the hospital, the classic car sustained major damage.

Three antique cars were lined up and on their way to a downtown car show when an accident occurred. One of the driver's was beginning to pull out when his foot slipped off the brake and on to the accelerator. He lost control of the car and crashed into the side of a nearby house, the side of another of the classic vehicles and continued down the roadway where it hit another antique car before finally coming to a stop against a large rock structure. The first vehicle that he hit was propelled onto the lawn of a neighbour's property.

For nearly eight and a half decades, one collector car traveled the roadways in its original condition. That all changed when the classic car was involved in a two-car crash at an intersection one Saturday afternoon during a parade. The classic car was moving down the road when it was struck by another vehicle that failed to yield for the ongoing parade. The vehicle suffered major front end damage and the owner was distraught to say the least. Two passengers in the antique vehicle had to be transported to a local hospital with minor injuries.

A classic car worth more than $1.5 million was badly damaged when it was involved in an accident in late July of 2015. Although the damage was extensive, the owner had hopes for repair. It is expected to cost a considerable amount of money and take more than a year before the car is repaired back to its original condition.

The Benefits Available Through My Collector Car Insurance

We offer coverage for classic cars, modified vehicles and specialty collectibles. Some program highlights include:

  • A single fully loaded package policy
  • $2 million liability coverage for drivers over the age of 25
  • Value based on an "Agreed Value of Automobile Endorsement" (OPCF 19A)
  • $7,500 spare parts coverage

Additional classic car and vintage vehicle program flexibility features:

  • Drivers can be insured for stock vehicles
  • Antique auto plates are not required
  • Existing appraisals up to three years old are acceptable
  • Occasional pleasure use is acceptable

The Difference between Classic Cars and Everyday Rides

A classic car is rare and valuable. The owners of these vehicles treat them as precious collectables, not simply a cool ride. Most of the cars that you see on the road today depreciate in value over time, which means the older they get the less they are worth. With a classic car, it tends to hold its value and may become even more valuable in time. Therefore, proper valuation of antique cars in vital for collector car insurance purposes.

Since the market for antique cars is relatively small, the valuation for insurance is harder than the assessment of a modern vehicle that has a resale value that has been well-documented. The high value of a classic automobile combined with the reduced size of the resale market can mean limited dollars lost for insurers. This means that the entire value of the car may not be covered for your antique car.

If you own a classic car and you are looking for classic car insurance, you will need to provide some documentation related to the vehicle's value. The professionals at Stewart Morrison Insurance will be able to assist you in determining the exact value of your car to make certain everything is included in your collector car insurance policy.

Take just a moment to complete the risk free quote form today. Then you will be well on your way to the peace of mind you need to fully enjoy your classic car.