Collecting vintage automobiles is a fun hobby. If you get lucky, it can even be profitable. Owning and then showing your vehicles at auto shows gives you a chance to travel and meet new people who are also interested in vintage automobiles. If you live in a small town, you may have a place in the annual parades driving down Main Street.
No matter what age you are, if you drive up to the nearest neighborhood hang out in a beautifully restored vintage roadster, you and your auto are going to get a ton of appreciative looks. You will probably have to answer many questions about the car, as well.
Classic Auto Insurance
Classic auto insurance is not the same as regular auto insurance. One of the biggest differences is the determination of value. Vintage collectible vehicles may be worth considerable sums. Usually, to get adequate insurance coverage, the insurance company requires a value appraisal from an acceptable appraiser.
To learn more about how this works, ask your agent at The Budde Agency Inc. serving Amityville, NY, and the surrounding communities.
Very valuable collectible cars may go up in value substantially each year. As part of an annual auto insurance review, check the appraisal valuation to make sure it is still in alignment with current market values. You may want to keep tabs with current auction prices of similar models to see what they are selling for to stay well-informed about the current values.
Restoration and Customized Upgrades
If you do a major restoration of a vintage vehicle or add any customized upgrades, you will want to consult with your insurance agent to adjust your insurance accordingly with the increased value.
Contact your agent at The Budde Agency Inc. in Amityville, NY by calling our office to get a quote for classic auto insurance.