Insuring Classic Cars

If you attend a Memorial Day or 4th of July parade in your community, you will most likely see nice classic cars in the parade. You may also see a collection of cars lined up at your local ice cream stand. Because I like cars, I enjoy looking at the cars and do so with envy.

If you own one yourself, do you know how to determine that value or how to insure it? Kim Bechler, a veteran personal lines underwriter with West Bend, will discuss how to determine the value of your vehicle and how to insure it properly.

A classic/collector vehicle is defined as a private passenger motor vehicle that’s at least 20 years old, is scrupulously maintained, is in excellent physical condition, is used primarily for exhibitions and club activities, and is driven no more than 2,500 miles each year.

An antique vehicle is a private passenger motor vehicle manufactured before 1950, scrupulously maintained and in excellent physical condition, whose antiquity and unique physical condition contribute greatly to its value, is used primarily for exhibitions and club activities, and is driven no more than 1,000 miles each year.

Now that we’ve distinguished between the two types of collector cars, how do you determine your car’s value?

 

Information Curtest of West Bend