Classic Car Insurance in Oklahoma

Did you know that the classic or antique car that you have stowed away in your garage should have insurance? You do know that it may not be easy to find spare parts for that immaculate 1950s Ford Thunderbird. What about theft? Damage by elements? Or catastrophic events? A Lot can happen to that collectible car. At S & S Insurance Services, Inc. in Oklahoma City, OK, we recommend safeguarding your investment with classic car insurance.

Defining Classic Car Insurance

Classic car insurance is a type of automobile policy that protects your antique car from damage or theft. Traditional auto insurance is insufficient for antique cars as classic cars are known to increase in value over time, while regular vehicles decrease in value. Each insurance company has a way of determining which cars fall under the classic car’s category.

What is covered?

Classic car insurance typically comes with similar coverages to a standard auto policy. Classic car insurance pays for unique repairs and restorations. The cost is usually higher than repairing a modern vehicle. The coverage can also replace worn out parts like engine components and wheels, which could be expensive if you bought them yourself.

The standard classic car insurance policy includes:

• Collison
• Property damage liability
• Bodily injury liability
• Comprehensive

It is imperative to understand that unlike traditional cars where insurance is based on cash value that factor to depreciation, classic car insurance provides coverage based on the agreement made between you and your insurance provider. You may need to adjust this coverage over time as the value increases to reflect this value.

How are insurance rates determined?

Classic car insurance generally has lower premiums compared to standard auto insurance for an apparent reason. A desirable classic car only appreciates, unlike their counterparts. Insurance providers use the same factors as auto insurance, only that the model and age of the vehicle carry more weight.

If you are looking to buy classic car insurance in Oklahoma, our insurance experts at S & S Insurance Services, Inc. in Oklahoma City, OK would like to take you through the insurance journey and ensure you get a policy that takes care of all your needs. Try us today!