W.B. Adams Company

14737 SW Millikan Way
Beaverton, OR 97003

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W.B. Adams Company Blog

How Classic Car Insurance Differs From a Traditional Auto Policy

Classic car insurance differs from auto insurance for cars not in that category. At W.B. Adams Company, we serve the Beaverton, OR community and thoroughly understand the differences in auto insurance policies.

Flexible Mileage

One difference between traditional auto and classic car insurance is that many policies offer flexible mileage provisions. The reason is that the total annual miles that classic car owners put on their vehicles are less than those of drivers with traditional auto policies.

Classic car drivers do not use their cars daily. Most of these owners also navigate the highways and byways with caution in order to safeguard the vehicles they cherish.

Agreed-Upon Value

A top reason to have car insurance, of course, is to protect the investment in the vehicle should it ever be stolen or totaled. Most classic car policies have agreed-upon value clauses rather than the actual cash value provision found in traditional auto insurance policies.

This means that if the classic car is ever stolen or deemed a total loss, the owner gets the value that’s agreed on as stated in the policy. In other words, the payout is an amount without a deduction for depreciation. With this coverage, car owners don’t have to be uncertain about what the insurance company will pay them.

Generally, to qualify for classic car insurance, an auto should be stored in a secure location, kept in good running condition, and not driven daily. This means that most policyholders should have a second car.

These are general guidelines, and there may be exceptions. In Beaverton, OR, we offer expert advice about classic car insurance. Contact an agent at W.B. Adams Company today.