Classic Car Insurance Restoration
Understanding Classic Car Insurance Restoration
Classic car insurance restoration refers to the specialised coverage and claims process designed to support the restoration of vintage and collectible vehicles. Unlike standard auto insurance, this type of cover recognises the unique value and needs of classic cars, which often undergo extensive repairs and refurbishments to maintain their historical and aesthetic appeal. Insurers in this niche work with vehicle owners to ensure any damage is repaired using authentic parts and methods consistent with the car’s original manufacturing standards. This tailored approach safeguards the authenticity and long-term value of the vehicle, making it essential for collectors and enthusiasts alike.
Key Features of Restoration Coverage
Classic car restoration insurance typically includes several critical features not found in regular policies. One of the most important is agreed value coverage, where the insurer and owner agree upon the car’s value before the policy is issued. In the event of a total loss, this agreed amount is paid out rather than a depreciated market value. Restoration policies also allow for flexible repair options, permitting the use of specialist garages or even do-it-yourself restorations under certain conditions. Additionally, many policies include parts coverage, essential for sourcing rare or original components that are no longer in mainstream production.
