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- Why do you need insurance for your classic car or antique auto?
- These vehicles are typically worth more than a private passenger auto and continue to appreciate in value. Here are a few of things to consider:
- If you're in an accident or your collector vehicle is stolen, it costs money, often a lot of money, to fix or replace it.
- If you or any passengers are injured in an accident, medical costs can be extremely expensive.
- If your vehicle is responsible for damage or injury to others, you may be sued for much more than you're worth.
- Not only is having insurance a prudent financial decision, many states require you to have at least some coverage.
- Things to consider and questions to ask your agent
- Your Independent Yassa Agency Agent is an advocate for finding insurance that meets your specific needs. Here are a few things to consider as you prepare for the discussion:
- How much can you afford to pay if you get in an accident? (Ask your agent what your cost savings would be if you raised your deductible.)
- Does the insurance company have a good reputation for customer service? Is it known for paying claims fairly and promptly?
- Does the company have an agreed value policy? (Agreed value policies do not depreciate the vehicle value in the event of a total loss.)
- What is acceptable usage for my collector vehicle? Can I drive it to work or school? Do I have an annual mileage restriction?
- Can I change the type and amount of coverage if I only drive my collector vehicle part of the year? (Ask your agent if you can reduce coverage while your vehicle is stored.)
- Can your premium be automatically paid by your bank to give you less to worry about on the road?
- What's the process for filing and settling a claim? (Ask who to call and what happens after you file a claim.
- Lowering the Cost
- You Can Take Action to Lower Your Insurance Costs
- How much you pay for insurance depends on many factors. Following the suggestions listed below may help you lower the cost of your collector vehicle insurance.
- Before you buy a collector vehicle-classic car or antique auto-check with your agent to see what it will cost to insure. More expensive vehicles cost more to repair, maintain and insure.
- Insure with one company. The more policies you have with a company, whether it's for your cars or home, the more substantial savings you may receive.
- Increase your deductible. Raising the amount you pay out-of-pocket for losses can help you save more on your policy.
- Try to weed out overlapping insurance. If you have an excellent medical and disability plan at work, you might wish to reduce medical or personal injury coverage on your auto policy, and save the difference. Ask your agent to explain the trade-offs.
- Drive safely. A clean driving record can potentially lower your insurance rates.
- How you pay can also influence the price you pay. Yassa Agency's most convenient plan is the Checkless Payment Plan, where your monthly premium is deducted automatically from your checking account. You can also pay your entire premium in full either by check or credit card.
- Understanding Insurance Terms
- How Collision Is Different Than ComprehensiveÑand Other Handy Information
- Insurance terms and jargon can be confusing. That's why we want to make sure that you clearly understand your options and know precisely what you're paying for. Here are the coverage terms we use. (Most policies are a combination of several of these coverages.)
- These protect you and other people:
- Liability Coverage
This coverage helps to protect you from expenses related to bodily injury or property damage you or your vehicle cause in an accident. When choosing liability coverage, consider things like how much money you make and the property you own. Your liability coverage should be high enough to protect you if you are sued after an accident. - Medical Coverage
This coverage provides for medical expenses to you and your passengers that are the result of an accident. People who frequently carry passengers often carry a higher amount than people who drive alone. - Uninsured/Underinsured Motorist Coverage
This coverage pays for expenses associated with bodily injury or death from an accident caused by an uninsured, underinsured or hit-and-run driver who is at fault. It also covers you if you are hit as a pedestrian. - These protect your Collector Vehicle:
- Collision Coverage
This coverage pays to repair the damage done to your vehicle due to an accident. Your agent can help you determine the degree you need this coverage based on the agreed value of your vehicle. Total losses will be paid based on the agreed value less deductible. - Comprehensive Coverage
This coverage pays to repair or replace your vehicle if it is stolen, vandalized or damaged in some way other than in a collision. This also includes loss from fire, cracked windshields, floods, falling objects and wind. Total losses will be paid based on the agreed value less deductible.
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