One of the biggest concerns with classic car owners is getting the correct amount in return for claims made. For example if you own a 68 camaro, you may find the book value on the car to be extremely lower than its real value. These days, its hard to find a nice 68 camaro under $20,000. In the event of an accident, it’s important to the owner to get the true value back from the insurance company..
.The solution to this is to request an optional coverage known as stated-amount coverage. What you do is take pictures of the interior and exterior of the car. Send the pictures as well as a market value appraisal, ordered from a trusted appraiser, to your insurance provider. Your camaro will then be listed on the policy for the true value and so will your premium. It may be wise to re-appraise the car every 6 months to make sure your classic is listed correctly on the policy. The value of cars like this are continually rising and for something like this, you want to be properly covered.
