Classic cars and vehicles continue to have lots of popularity and fans generation after generation in Wheat Ridge, CO. However, if they are going to be operated on public roads, they still have to be insured. With normal cars this is not a problem; most auto insurance companies have predetermined lists for the likely value of most common vehicles dating 20 years back. However, when the vehicle is 30 years or older, it starts to go into what is known as vintage or classic status. As a result, a number of factors then come into play such as collectibility, rarity, condition and more. Insurers generally don’t have such expertise or reference guides for each and every older vehicle, so they rely on licensed appraisals to estimate coverage value.
When a vehicle owner makes changes or adds additional components to a classic car, it changes the value of the vehicle. And that matters because if the car is damaged then there is a discrepancy between the value to repair it and the amount of coverage that will be provided by a vehicle insurer. And as any vintage car owner in Wheat Ridge, CO knows, finding repair services and parts for classic cars can get expensive. So it’s critical to get a second appraisal when there are major changes on a vehicle and it needs to be protected.
The CO Insurance Specialist staff can help in explaining the vehicle appraisal process and related requirements. They are well-versed in how insurance providers estimate value and what is needed to both develop and update a vintage car policy. That helps avoid mistakes as well as clarify when a car owner needs to update coverage information.