CAR INSURANCE IN MASSACHUSETTS

What Coverages Are Available Through Antique Car Insurance?

Antique car insurance provides multiple coverages, often adding to the protections that might be found in a standard auto insurance policy. 

Some of the coverages that both antique car and standard auto insurance policies normally provide include: 

• Personal Injury Protection (PIP), which may cover injuries to people in a vehicle
• Bodily Injury Liability Coverage, which may cover injuries to people not in a vehicle
• Comprehensive and Collision Coverage, which may cover damage to a vehicle
• Property Damage Liability Coverage, which may cover damage to other property
• Underinsured and Uninsured Motorist Coverage, which may cover accidents caused by non-insured drivers

A couple of coverages that tend to be more common in antique car policies are:

• Agreed (Guaranteed) Value Coverage, which may cover a vehicle for a specified amount
• Flexible Usage Allowance, which may extend coverage to other uses (e.g. showing)

Both antique car and standard auto policies frequently offer 24/7 emergency roadside assistance as an available perk. The assistance provided by antique car policies is often specifically for collectible vehicles, though, and this might ensure a higher level of service. For example, an antique car policy’s assistance might include guaranteed towing on a flatbed so that the car won’t be accidentally damaged going over a bump.

(The exact coverages and optional perks found in antique car policies can vary.)

What Are Agreed-Value Auto Insurance Policies?

Most classic car policies are agreed-value/guaranteed-value policies. This generally means that the insured vehicle is covered at a predetermined value. The coverage is most useful when there aren’t many accurate comparisons to value a vehicle by, or when the money put into a vehicle is greater than the value of the vehicle.

Stated-value coverage is a more common way of establishing how much protection a policy provides for the insured vehicle, and most standard auto policies are stated-value policies. With this type of policy, the vehicle is insured up to its fair market value. That value often isn’t determined until there’s a comprehensive or collision claim, and the value is based on comparable sales as well as other factors.

How Can Massachusetts Residents Get Classic Car Insurance?

For help insuring a classic or collectible vehicle that’s registered in Massachusetts, contact the independent insurance agents at Garrity Insurance. Our agents will review your vehicle’s coverage needs with you. They’ll then compare classic car insurance policies from different insurance companies to see which policy will be best for your vehicle.