When Should I Consider a Specialty Auto Insurance Policy?

Buying a vehicle is a huge investment; but when you start to make upgrades, you’ve created an additional reason to get protection that will give you some peace of mind knowing that investment is protected. Once you have added these upgrades, it’s best to check your auto insurance policy to see if it will currently cover them. If not, this may be the time to consider getting a specialty auto insurance policy.

How Will I Know if I Need a Specialty Insurance Policy?

Your independent insurance agent should be able to work with you to determine whether or not a specialty car insurance policy is warranted, but here are some clear indications that you may need one:

• You have created a custom car
• You have a number of expensive accessories added to the vehicle
• You have changed the engine to a specialized one

Once you have invested a certain amount of money, it may be considered a custom car. Here are some coverage options you may wish to consider:

• Agreed value coverage: If you have an accident, the vehicle can be paid at value with no depreciation. This is an excellent option in helping to recoup those losses from your investment.

• Spare parts coverage: If you have spare parts for the car and it is insured under specialty car insurance, you can be reimbursed for any damage or loss.

• Collector’s discount: You may get significant discounts based on the number of collector’s vehicles you have under one policy.

• Annual mileage: When your car becomes a custom or specialty car, there are provisions that can insure your car for either a certain number of miles or unlimited miles with added protection.

Anytime you upgrade your vehicle, you should take the time to consider the amount of money you have now invested. If it is significant, working with your agent to determine whether or not your car can be classified as a specialty or custom car can save you time and money.

Learn more about covering your unique vehicle. Call 915-562-0009 for more information on El Paso auto insurance.