Specialty Coverage

Classic Car

Proper valuation for Classic Cars is both extremely important and quite challenging.  While most cars lose value as they age, classic cars tend to hold value or even appreciate making proper valuation extremely important.  Additionally, many classic cars are quite rare and thus there is only a very small resale market with which there are documented sales / value. with such a small resale market there is not a well documented resale value with which to validate valuation.

Another factor is the difference in the expense of repairs and replacement costs. While insurnace claims are filed in the same manner as a regular car owner, what is quick and easy to repair in a regular car may be extremely expensive and difficult to replace in a classic car, due to factors such as a specialty paint job, restored wood or customized parts.

Some insurance companies place restrictions on useage and/or mileage limits while others offer discounts for a locked garage or special storage area.  Work with a CRI agent today to discuss your covergae options. 

Exotic Car

Exotic cars also have special isurance needs.  Like classic cars, they can be more expensive to insure than regular cars but how often you drive them and how/where you store them can help keep your costs in check.  

Uninsured Motorist

Uninsured motorist covers your costs in the event that the at-fault driver does not have even the minimum liability insurance, and has no coverage to pay the costs of your bodily injury and property damage. It covers expenses you incur, up to the limits you set on your own auto insurance policy, and usually, after you pay your deductible.

Underinsured Motorist

Underinsured motorist insurance covers your costs in the event that the at-fault driver has the minimum coverage, or a very low amount of insurance. With this coverage, if you are involved in an accident with a driver who has insufficient liability coverage, you will have access to the maximum limits of that driver’s liability policy, after which your uninsured motorist coverage will kick in to pay for your injuries and property damage up to your policy’s limits.

Personal Insurance Protection

Personal Injury Protection (PIP) is required in some states. This coverage pays medical expenses for the insured driver, regardless of fault, for treatment due to an auto accident.

Rental Reimbursement

This type of coverage will pay for a rental car if your car is damaged due to an auto accident. Often this coverage has a daily allowance for a rental car.

Towing & Roadside Assistance

Some auto plans may include a level of emergency roadside assistance but often basic policies do not include this coverage or if so, in a limited fashion.  There are many ways to customize your car insurance coverage and adding Towing and Roadside Assistance to your policy can help you if you:

  • Run out of gas
  • Get a Flat Tire
  • Have mechanical failure
  • Dead battery
  • Lock your keys in your car

Gap Insurance

Unfortunately vehicle values drop quickly after purchase which can result in a financial burden if your vehicle is demolished or stolen and deemed a "total loss".  Gap, or Guaranteed Auto Protection Insurance, can cover the difference between what your car is worth (based on current market value) and what you actually owe on your auto loan in the event your vehicle is totally written off.

With many lease programs you are required to carry Gap insurance on your leased vehicle and it will often be included it in the lease agreement.  If you are interested in purchasing Gap insurance make sure to read your lease agreement closely to avoid buying Gap coverage twice. 

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