Collector Auto
Regular auto insurance uses actual cash value (depreciated value) for total loss claims, which continuously decreases as your car ages. Collector and classic car insurance uses agreed value -- you and the carrier agree upfront on what the car is worth, and that is exactly what you receive if it is totaled or stolen, with no depreciation deducted. Collector policies also typically offer lower premiums because usage is limited (pleasure drives, shows, not daily commuting). Usage restrictions vary by carrier so it is important to understand what qualifies under each policy.
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