Category: Classic Car Insurance

Owning a classic car in North Carolina is a special experience, and at Lee Insurance Agency LLC, we know these vehicles deserve the right kind of care and coverage. You’ll want to ensure it’s well-protected while showing off your beauty in Raleigh or taking it for a spin through the Blue Ridge Mountains. Our agency understands the unique needs of classic car enthusiasts and offers tailored insurance solutions to keep your prized possession safe.

Unlike traditional vehicles, classic cars often come with higher market values, making specialized coverage essential. At Lee Insurance Agency LLC, we recommend policies that consider the actual value of your car rather than just the standard market value. This means your vehicle is protected according to its true worth, reflecting its age, condition, and customizations.

Modern insurance solutions also allow for flexibility in usage. Whether you’re a weekend driver or participate in annual shows, we help you find policies that accommodate your lifestyle. With services catering to Greensboro, Charlotte, and all of North Carolina, our agency offers expert advice on liability, comprehensive coverage, and more.

Navigating the world of classic car insurance can be tricky, especially with North Carolina’s specific regulations. That’s why our knowledgeable team at Lee Insurance Agency LLC is here to simplify the process, ensuring you’re equipped with the right information. We prioritize your peace of mind so you can focus on enjoying your classic ride.

Ready to secure the best protection for your classic car? Contact us today to explore modern insurance solutions tailored to your vehicle’s unique needs. Our experts are eager to provide a personalized quote and help you feel confident your prized possession is in good hands.

Classic cars in North Carolina are vintage treasures representing an automotive history, boasting elegant designs, and engineering craft skills. For many classic car fanatics, restoring and preserving these iconic vehicles is a labor of love. However, classic car restoration is a complex and often expensive endeavor. Classic car insurance protects the restoration process.  

Key Benefits of Classic Car Insurance for Restoration Projects

These are the benefits you will want to consider while restoring a classic.

• Agreed Value Coverage: Classic car insurance policies typically offer agreed value coverage. This means the insurer and the policyholder agree on the car’s value before issuing the policy. In the context of restoration, this agreed-upon value considers the car’s condition, rarity, and potential post-restoration value. In the event of a covered loss, the agreed value is paid to the policyholder, providing essential financial support for restoration projects.
• Coverage for Restoration Work: Classic car insurance can extend coverage to the restoration process itself. If a covered loss occurs while the car is undergoing restoration, the policy can help cover the cost of repairs or replacements. This protects the time and resources invested in the restoration project.
• Safeguarding Rare Parts: Classic car restorations often require rare or vintage parts that can be difficult to source. Classic car insurance policies can include spare parts and original equipment coverage, ensuring that these valuable components are safeguarded against loss or damage.
• Specialized Expertise: Classic car insurance providers typically have expertise in restoring and preserving vintage vehicles. This expertise can be a valuable resource for classic car enthusiasts, offering guidance and support throughout the restoration.

Lee Insurance Agency LLC Can Help You

At Lee Insurance Agency LLC, we can help answer questions concerning classic car insurance. We serve North Carolina. Contact us today. 

A truck and trailer pull up beside you in traffic. On the trailer shines a stunning Delahaye. You know it has to be at least a 1940s model because they were only built between 1935 and 1954. As you drool over the auto, you wonder if antique cars qualify as classic cars. 

Well, yes and no. A car can’t be considered a classic if it’s over 40 years old, but it’s still a special category of car. Classic car insurance is the only protection for a beauty like that, and Lee Insurance Agency LLC of North Carolina knows best how to insure it.

What’s the Difference Between An Antique and a Classic Car?

There are actually three categories of cars: vintage, antique, and classic. The vintage car is the one you saw descending to the hold in the movie Titanic. They were made between 1910 and 1930. 

An antique car was made between 1930 and 1975. Think of the old 40s cars driven in movies or a 1956 Chevy. Even a 1970s Pontiac GTO is now an antique. North Carolina might refer to this type of car as a historical antique car.

A classic car is between 20 and 40 years old. If it was built from the 1980s up to 2003, then it’s a classic. That would make a 1997 Jeep Cherokee, a 1989 Toyota Camry, or a 1981 Chrysler “K” car classic cars.

Why Do Classic and Antique Cars Require Special Insurance?

When cars get past a certain age, parts with which to repair them become scarce in North Carolina. So are knowledgeable and well-trained mechanics who actually know what your classic car is and how to repair it. Special insurance for special cars is a must.

Contact Us Today

Lee Insurance Agency LLC of North Carolina is all you need to know when considering classic car insurance. Please stop by our offices or call to learn more about it. We’re happy to help.

You’ve invested a lot of time and money into your classic car. Whether you’re driving it on the open road or keeping it in mint condition in a garage, you want to ensure it’s adequately protected in case of an accident or theft. That’s where classic car insurance comes in.

What is Classic Car Insurance?

Classic car insurance protects your investment and gives you peace of mind knowing your vehicle is adequately covered. It’s like regular auto insurance, but with some crucial differences. For example, classic car insurance has a lower premium since the vehicles are not used as often and are typically driven fewer miles than a regular car.

Another difference is that classic cars may appreciate over time, so it’s essential to have an insurance policy that considers this. Many regular auto insurance policies have a stated value, which means if your car is totaled, you can only receive the current market value of the vehicle – not what you paid for it or what it’s worth to you.

What is Guaranteed Value?

Classic car insurance uses guaranteed value, which means you’re reimbursed for the total value of your car in the event it’s totaled. This is important because classic cars often appreciate value, so you want to ensure you’re covered for what it’s worth – not just its current market value. Lee Insurance Agency LLC in North Carolina can help you determine the correct value for your car.

Why You Need Classic Car Coverage

Classic car insurance is not required by law, but it’s a good idea if you want to protect your investment. It can also give you peace of mind knowing you’re covered in case of an accident or theft.

The classic car insurance experts at Lee Insurance Agency LLC in North Carolina can help you find the right policy for your needs. Contact us today to get started!

You may have purchased a fabulous older vehicle that you love and want to protect. You may have purchased what others considered an old junker, but you restored it to its original pristine glory because you are just that talented of a mechanic and bodywork artist. Depending on its age, you might need to purchase classic car insurance for it from Lee Insurance Agency LLC of North Carolina.

Obtaining classic car insurance means you buy a policy with an enhanced replacement value that limits the mileage you can put on the vehicle annually. Typically, this limits you to 1,000 driving miles per year.

Classic car insurance policies use agreed-upon value coverage. That provides you with the amount you would receive if your vehicle got totaled in an accident. This amount is based on an appraisal of the vehicle conducted at the time you obtain coverage. You can opt for a cash settlement option which lets you use the money obtained if the vehicle gets totaled or stolen any way you want.

The classic car policy will also cover items like you driving the vehicle in parades or showing it at car shows. The car show component also includes medical coverage in case someone becomes injured while using or interacting with your vehicle.

The same policies cover an expert mechanic who specializes in classic or exotic vehicles. You also get spare parts coverage so if your car incurs damage or a thief steals a part off of it, the replacement part is covered. This means an original part, so your classic remains a classic. Your insurance will cover OEM parts only.

Not all cars qualify for classic car insurance. Age provides one valuation criteria, but increased value over time provides another. Rarity provides the final component.

You can purchase add-ons for your policy that increase the replacement value. Otherwise, you would pay the difference out of pocket in the case of an accident.

These policies also cover roadside assistance and a no attendance required component. That protects your vehicle at a car show when you must step away from it. You have to go to the bathroom or get something to eat sometime.

Contact Lee Insurance Agency LLC serving North Carolina to learn more or obtain a classic car policy for your vintage vehicle.