You’re a person, not a policy.
We’re creating Peace of Mind for the People we Care About.

If you attended a 4th of July parade in your community, you most likely saw nice classic cars in the parade. You may also have seen 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, discusses how to determine the value of your vehicle and how to insure it properly.

A classic or 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? The best way is to have it appraised by a professional accredited appraiser of classic/antique vehicles. Using his/her knowledge and resources, a professional appraiser will provide a detailed description of the vehicle and its condition at the time of the appraisal, typically for a fee.

Once you’ve determined the value, it’s time to look for an insurance carrier to keep it protected. Not all insurance companies insure classic or antique vehicles, so it makes sense to find a company that provides the right coverage.  At Eagle Point Insurance Group, we have several options for our clients.

One option is insuring your classic/antique vehicle with West Bend Mutual.  With the Home and Highway® policy, your classic/antique vehicle will be insured on an agreed value basis. This means West Bend agrees to the value of the appraised vehicle, and in the event of a total loss, West Bend would pay the agreed amount for which the vehicle is insured.

When a vehicle is insured on the Home and Highway policy, we require full coverage year round. There are actually several advantages to this. First, the premium for a classic/antique vehicle is already reduced because it’s driven 2,500 miles or less a year. Second, keeping year-round coverage eliminates the need to add and remove coverage while the vehicle is in storage. Third, you can drive your vehicle anytime throughout the year without worrying about having coverage.

Another option we offer is insuring your vehicle with Hagerty's Collector Vehicle Insurance.  Hagerty only insures antique and collectible cars, so we can pass along provide better coverage at a significantly lower price than daily driver insurers. Hagerty uses their industry-leading tools to help you determine the true value of your classic, then creates an agreed value policy that covers it.  Hagerty's optional best-in-class program provides guaranteed flatbed roadside assistance and other benefits as well. Read more about Hagerty Plus Roadside Service and Benefits.  

Whether you own one car or a hundred, your collector car policy is designed specifically for you. Do you travel with your car? Are you restoring your car? Do you collect automobilia or own valuable parts and tools? We've got you covered.

Do you have any comments you’d like to share? I’d love to hear them; please share them in the box below.

Image courtesy of Victor Habbick /
References:  West Bend Cares,; Hagerty Antique Auto Insurance

Posted 10:00 AM

Share |

No Comments

Post a Comment
Required (Not Displayed)

All comments are moderated and stripped of HTML.
Submission Validation
Change the CAPTCHA codeSpeak the CAPTCHA code
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014

View Mobile Version

Our Customer Feedback

"Great people to help you with insurance needs...."

-Toni Kunz
  • Carrier
  • Carrier
  • Carrier
  • Carrier
  • Carrier
  • Carrier
  • Carrier
  • Carrier
  • Carrier
  • Carrier
  • Carrier
  • Carrier
  • Carrier
  • Carrier
  • Carrier
Social Icon Social Icon Social Icon Social Icon Social Icon Social Icon
Statements on this web site as to policies and coverages provide general information only. This information is not an offer to sell insurance. Insurance coverage cannot be bound or changed via submission of any online form/application provided on this site or otherwise, e-mail, voice mail or facsimile. No binder, insurance policy, change, addition, and/or deletion to insurance coverage goes into effect unless and until confirmed directly by a licensed agent. Any proposal of insurance we may present to you will be based upon the information you provide to us via this online form/application and/or in other communications with us. Please contact our office at 651-209-9330 to discuss specific coverage details and your insurance needs. All coverages are subject to the terms, conditions and exclusions of the actual policy issued. Not all policies or coverages are available in every state. Information provided on this site does not constitute professional advice; if you have legal, tax or financial planning questions, you should contact an appropriate professional. Any hypertext links to other sites are provided as a convenience only; we have no control over those sites and do not endorse or guarantee any information provided by those sites.
© Copyright. All rights reserved. Powered by Insurance Website Builder