If you’re the kind of person to drive a classic car in Las Vegas, then you are definitely on the market for a reputable auto insurance provider. After all, a vintage vehicle is the perfect accessory in this city – yet it also comes across as a major liability, which you will want to protect against the often reckless driving that the city can be a backdrop for. So here is our selection of the top five tips you will want to bear in mind, when shopping around for Las Vegas classic car insurance.
How do specific Las Vegas classic car insurance providers evaluate vehicles?
Intuitively, a classic car should be appraised at market value for the purposes of car insurance. However, this is not always the case and the owner of such a car needs to make sure they understand how the insurer appraises the vehicle. Some insurers cover such cars for actual cash value, which is a depreciated value, with deductible costs up to the owner. Others cover for stated value, which is calculated based on information from third parties; such values might come close to your vehicle’s value, but will never accurately represent it, unless you get an assessment of your very own car. What you need to look for is an insurer that will cover your car for a value that both you and the company agree on. For this purpose, of course, you need to know what your car is actually worth.
Can they locate the right car parts?
Perhaps the biggest challenge to owning an old, vintage, classical, or otherwise exotic vehicle is finding the right spare parts needed to fix it. Identifying such parts often costs a lot and adds a significant amount of time to the repair process. Some, but not all, providers of car insurance in Nevada, will offer you car part location services. Before you sign up with any specific Las Vegas classic car insurance company you need to make sure they are fully capable of assisting you in repairing your vehicle in case of damage or malfunction.
Does driving experience matter?
You may not be aware of this, but some car insurance providers in Nevada, as well as in other states around the US, will only cover liabilities on classic cars if the driver can prove they have a minimal number of years of driving experience in their track record. What’s more, some insurers will also stipulate in their Las Vegas classic car insurance policies that no one who doesn’t meet this requirement is allowed to drive the car, while the policy is being enforced.
Can they cover for appreciation?
Regular cars devaluate over the years, but with classical cars, the situation can be entirely different, as their value may increase in time. A good Las Vegas classic car insurance provider will bear in this mind and offer you a policy with an appreciation clause. Such clauses involve having the vehicle reappraised every other few years, in order to determine its actual current value.