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Auto Insurance

INSURING A CLASSIC TRUCK: 5 THINGS TO CONSIDER

There is a good chance that your classic truck means a lot to you. Maybe you’ve spent a long time restoring it or repairing it. Maybe it was passed down through the generations. Whatever the case is, you want to get your truck covered by an insurance policy. This is why specialty truck insurance is so important and vital to any truck driver. This is especially the case if you have a classic truck – because there is often more at stake than monetary value. Here are five things to consider when insuring a classic truck.

truck-insurance

  1. Decide how much coverage you want to get. You can go the basic route and get simple accident coverage – this will protect you from coming out of pocket in the instance of a lawsuit. Another option is to get more comprehensive coverage that covers the other driver’s liability claim and repairs the damage to your truck. If you have a particularly older model truck, you may want to get a more comprehensive plan.
  2. Is your truck used for commercial applications or leisure? This is an important factor to consider, because you will usually need a completely different type of insurance if you choose one or the other. If you are using your truck for work, you want to get commercial insurance, because this will also protect the payload or whatever the items you may be hauling. If you are using your truck for the sake of getting around town on the weekend, you may want a simpler plan that offers basic coverage.
  3. Find the total value of your classic truck. There may be a market value for your truck, but the auction value may be much higher. If you want to get a coverage policy that willcoverage the total damages, appraising the total value is important. So, you may want to get a professional appraiser to have a look at your vehicle. Depending on how it has been restored, your truck may be worth way more than you think.
  4. Do you have good credit? Your credit score may factor in to the cost of your total classic truck insurance policy. So, if you have poor credit, you can expect to be paying more for your coverage plan. However, you want to check your credit before you get a quote because there may be an error. If there is, you want to remedy the situation right away, because you don’t want to end up paying more your policy when you don’t have to be. There are a number of ways to clean up your credit, but it starts will having a bird’s-eye view of your score and report.
  5. Purchase your policy from a truck insurance company. When you are trying to find coverage for your classic truck, you don’t want to go to just any insurance company. For instance, the Great West Casualty Company has some great rates for people who need truck insurance. In the end, you can usually work with an insurance agent to customize your plan, but you want to make sure that the company has a deeper understanding and appreciation for truckers than a standard car insurance company.
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Auto Insurance

How to Get Car Insurance Properly

If you already decide to purchase your own car, the next step is get car insurance immediately. I recommend you to get car insurance immediately because car insurance will protect your car from damage and protect you from potentially crippling financial losses if you are in an accident and be found at fault. Therefore, today I will give you a step by step guide to get a reliable but affordable car insurance plan for you.

Car Insurance

The first step is shop online. You can use the internet to search car insurance company easily. You can even compare car insurance rates using free quotes online features on the internet. Make sure that you assess the benefit of each car insurance offering and choose the best options.

The next step is calling a local independent agent. You can call an independent agent who will explain coverage and provide quotes from different companies. You can ask for comparison of car insurance companies on your area.

The next step is go straight into car insurance company. You can directly purchase car insurance from the insurance company instead of buying it from an agent. You can even make purchasing through the internet by filling the form on the internet.

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Auto Insurance

Know What Your Auto Insurance Won’t Cover

Finally, after an exhaustive search, you’ve zeroed in on an insurance company that you feel offers the best deal for your car. If you think your search has ended, think again! Many car insurers may not provide coverage for items inside the car or if other drivers use your car. Therefore, it is important to know what exactly you are getting into before signing on the dotted line.

When it comes to car insurance, “full coverage” can often be a myth. An insurer has a number of stipulations that may not always be made clear at the time of purchase. Many customers rarely read the fine print and often settle for attractive deals that are short-lived and prove to be expensive in the long run. First rule when deciding on your car insurance plan- know exactly what is covered and what is not.

Auto Insurance

Understanding what your car insurance will cover

Let’s first start with listing out what your car insurance usually covers.

Bodily injury liability

This coverage is provided under the minimum car insurance requirements of most states. It means that medical bills are paid if another person is injured in an accident which is caused by you.

Property damage liability

This type of plan covers the expenses required to repair the other individual’s car, when you are at fault. It goes side by side with body injury liability and is also provided under the minimum coverage requirements in most states.

Comprehensive coverage

This includes the physical damage that can affect your car other than due to a collision, such as the theft or vandalizing of your car or if a branch of a tree snaps and falls on your car, causing extensive damage.

Collision coverage

This covers the damage your car suffers as a result of an accident that has been caused due to your fault. This is one of the most important aspects of the coverage provided by your insurer.

Other coverage plans include uninsured motorist coverage- damage caused to your car by an individual who is not insured and medical payments coverage which includes medical or funeral expenses for you or your family members who are involved in a collision. However, these may have certain exclusions which are explained next.

Knowing what is not covered

Then, there’s the flip side. Some incidences may seem to be included in the policy but can be easily misconstrued as they may not be clearly defined by the insurance company. These can also vary depending on the laws in different states as well as the plans offered by the insurance providers. Watch out for some of these that are listed below.

Damage to a rental car

Coverage for crashing a rental car may be included only in part in your insurance plan. There are hidden costs which may pop up later such as income loss for the company or additional charges for repairing the car.

Items inside your car

The items inside your car are not necessarily covered when your car is insured. Coverage includes only items that are part of the car such as CD players and a radio but if you leave your iPad in your unlocked car and it gets stolen, the coverage does not pay for it. Also, if your car is refitted with customized appliances that are not a part of the original car design, they do not fall under the insurance coverage if damaged or stolen.

Uninsured/underinsured motorist liability

Some insurance companies offer this coverage, but not all. As a number of drivers may not be insured, it is important to check if your plan covers this.

Medical payments

Although most insurance companies offer coverage for medical expenses in case of accidents, it is important to check the type of payments covered under it. For example, injuries caused by a vehicle with less than four wheels or injuries sustained as a result of using a vehicle as a place for living are excluded from medical coverage.

Some insurance companies like The Hartford offer features like First Accident Forgiveness and Disappearing Deductible, but make sure you read the fine print and understand the stipulations under which you can benefit from these features.

Being aware of what is covered by your car insurance and what won’t be covered is important as you invest a considerable sum of money in your premiums. Review your car insurance policy today and make sure that your coverage is providing you with benefits that are worth every dollar you spend on it.