Exhibit A — Comparison
Built for a carthat gets betterwith age.
A standard auto policy is written for a car that depreciates every year it's on the road. A collector car does the opposite — so the policy underneath it has to work differently too.
Where they diverge
Standard autoClassic-car policy
ValuationActual cash value — depreciated at the moment of loss, decided after the fact.Agreed value — settled with you before the policy is bound, paid in full on a total loss.
Usage assumptionsWritten for daily commuting: rush-hour traffic, year-round exposure, high annual mileage.Written for pleasure use: weekend drives, shows, club events, limited annual mileage.
UnderwritingPriced mostly on driver history — where you park the car barely factors in.Priced on the car itself — storage, documentation, originality or build quality.
Who's placing itOften a captive agent with one carrier and one rate to offer.An independent agency placing your car with whichever specialty carrier fits it best.
Instruction to proceed
Talk to someonewho reads the car,not just the driver.
Tell us about the vehicle and how you keep it. We'll tell you what changes when it's placed on a classic-car policy instead of a standard one.