If you own a classic car in New Hampshire, securing the right insurance is crucial. As unique vehicles, antique cars have unique coverage needs and require classic car insurance; a standard auto insurance policy is typically not adequate.
One key distinction between a standard auto policy and classic car insurance in New Hampshire is how the vehicle’s value is determined. A standard auto insurance policy values a car on an actual cash value (ACV) basis, which reflects depreciation. Considering that classic cars do not depreciate in the same way as everyday automobiles, a classic car insurance policy offers agreed value, which is a set amount that you and the insurance company agree will be paid in the event of a loss. You are guaranteed to receive this amount at the time of the loss; no lesser value or depreciation will be considered.
Another difference between standard auto coverage and classic car insurance is cost. Classic car insurance in NH can be significantly less expensive than a standard auto policy because of certain restrictions. With classic car insurance, insurance providers typically set a mileage cap, such as 2,500 miles per year for instance, and require that the vehicle be stored in a fully enclosed area. Depending on the insurance company, there may also be a minimum age requirement.
New Hampshire classic car insurance coverage is affordable and easy to obtain, and working with an independent insurance agent will allow you to find the best policy for your specific needs. At Eaton & Berube Insurance, our independent agents will take the time to assess your needs, explain the different coverage options available to you, and ensure that you receive all of the insurance discounts for which you qualify.
In addition to Nashua where our office is located, we are pleased to provide classic car insurance in Hudson, Hollis, Brookline, Litchfield, Amherst, Merrimack, Bedford, Manchester, Milford, Concord, Goffstown, Derry, Salem, Londonderry, Windham, Wilton, Mont Vernon, and all of New Hampshire. To get a free quote for classic car insurance in NH, please call us today at 603-882-2766 or submit our online quote request form.