When you purchase Pemco car insurance vintage car protection can come in several forms
If you own a classic car, chances are you have spent a lot of time and money getting it just the way you want it. You may have even paid someone else to do the restoration. With Pemco car insurance vintage car protection can be put in place to provide you with the coverage you need to make sure your investment is protected in the event of an accident.
Unique cars with unique requirements
Typically, vintage cars are not used by daily drivers. These cars' uses are limited to special shows, parades, rallies, concourses or even rhe occasional weekend pleasure driving or wedding event. As such, you will want to get the right amount of coverage for those rare and special occasions, without breaking the bank.
Pemco car insurance vintage car coverage does not fall into the same category as regular car insurance. While most vehicles depreciate in value over the years, a vintage car will usually appreciate in value over time or at least hold its value.
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Your Pemco classic car insurance coverage should be adjusted as the value of your classic car changes. A classic car is generally identified as any vehicle that was built between 1925 and 1948. Vintage or antique cars are loosely defined as those 25 years old or older. If the vehicle was part of a limited production, or if it was a specialized custom line of a production car, it can be worth a good bit more than traditional classic cars.
Determining a different baseline
When you shop for Pemco car insurance vintage car policies, it will be a little different than purchasing coverage for a new car. Coverage for vintage cars is set at what's known as an agreed-upon value instead of the actual cash or market value. You and your Pemco representative will use a number of tools and data (including any records you have showing the money and time you've invested in restoring your vintage car) and will come to the agreed-upon value of your vintage car. If anything should happen to the car while you have vintage car insurance with Pemco, they will use this agreed-upon value as the baseline for coverage. If tragedy strikes and your vintage car is a total loss, you will recieve the agreed-upon value (minus any applicable deductibles.)
Costs of coverage and discounts to consider
The cost of coverage for your vintage car depends on the types of options you have and the agreed-upon value. Premiums are usually less for a classic car than a standard vehicle, because the insurance company will impose some restrictions on usage, including limiting the total number of miles you can drive each year and providing mandates on how the vehicle must be stored when not in use. You can usually choose 1,000-, 3,000- or 6,000-mile limits. The fewer miles you drive, the cheaper your insurance will be. Overall, your insurance on a vintage car will reflect the limited usage and the better care it receives.
One other option to consider
If putting together a Pemco car insurance vintage car policy proves too difficult, there is another option for protection against loss available through Pemcio. You can take out a Pemco umbrella liability policy. It will require you to set higher levels of protection but the flipside of that requirement is that it can protect you and your vintage car up to higher levels of reimbursement.
Pemco car insurance vintage car protection will secure your investment and keep your pride and joy out of harm's way financially. To know for sure if this is a good option for you, your family and your vintage car, it might help if you spent some time with a local, licensed car insurance agent with access to companies like Pemco. You can get all your questions answered and can even see a range of coverage proposals before you buy. Reply! can help you here by connecting you to local car insurance agents who will help you put a car insurance plan in place worthy of your classic ride.