Unlike normal cars, classic cars retain their value and may even appreciate in price. These additional endorsements will make sure your classic has the protection it needs.
Comprehensive coverage will cover the damages for non-driving events. Comprehensive coverage includes a deductible, which is the amount you agree to pay out of pocket. Limits for comprehensive coverage are usually the actual cash value of the insured car. Comprehensive coverage protects you from the following:
- Vandalism, fire, riots, and explosions
- Windshield and glass damage
- Falling trees/limbs and other objects
- Rocks/objects kicked up by or falling off cars
- Storms, hail, wind, floods, lightning, and earthquakes
- Accidents with animals (hitting a deer)
Collisions coverage covers the repair or replacement of your car if it is damaged from a collision with another vehicle, a collision with an object or a single-car accident. Collision coverage includes a deductible, which is the amount you agree to pay out of pocket. There are limits for collision coverages and it is usually the actual cash value of the insured car. Collision coverage is only required for cars that are being financed but if may be a wise choice to buy collision coverage if you cannot afford to replace or repair your car after major damages. Determine the approximate value of your car using sites like Kelley Blue Book to determine if the additional costs are worth it.
Collision coverage protects you from the following:
- Hitting a tree
- Hitting a building
- Rolling your car
- Hitting a pothole or curb
- Backing into another car
- Being hit by another car
Uninsured/underinsured motorist (UM/UIM) coverage
Underinsured and uninsured coverage pays for your injuries and property damage caused by a hit-and-run driver or a motorist without liability insurance. It will also pay when your medical and car repair bills are higher than the other driver´s liability coverage.
Medical payment coverage
Medical payment coverage is supplemental insurance coverage that helps pay for medical expenses that result from an accident, no matter who is at fault. This type of supplemental coverage is not required by the State of Illinois.
Medical payment coverage may help pay for:
- Funeral expenses
- Injuries sustained by passengers
- Injuries sustained as a pedestrian or cyclist
- EMT and ambulance fees
- Hospital visits and stays
- Doctor visits
- Surgery and X-Rays
- Nursing services
- Dental procedures needed after an accident
Towing and labor
Towing and labor coverages and limits vary by insurance provider, but it usually pays the cost of towing your car to a repair shop and covers labor charges up to the policy limits. This coverage offers reimbursement payment only. You will have to pay for the costs upfront and later file a claim with your receipt for reimbursement payment.
What does towing and labor coverage include?
- Tire changes
- Lockout help
- Gas delivery
- Oil delivery
The labor cost refers to labor charges you may incur at the scene of the breakdown. The coverage, however, does not cover the cost of any needed parts. For example, towing and labor coverage will jumpstart your car if its runs out of battery, but will not replace a faulty battery.
Many insurance providers do not include towing and labor coverages on basic plans. These services are an add-on, which will increase your insurance premium. This extra coverage typically does not follow you and it only applies to the car that is insured by your insurance company.
If you only have one car available to use, rental reimbursement is an economical and vital option to include in your auto insurance policy. Rental reimbursement policies come with a a per-day and per-accident limit.
It may be tempting to rent a luxury sports car during the time your car is being repaired, but rental reimbursement only allows you to rent a vehicle that is similar to the one that is being repaired in order to be reimbursed.
Rental reimbursement coverage pays for rental car costs if your car has been damaged:
- In a car accident
- By theft or vandalism
- By severe weather
This coverage will not offer reimbursement for rentals that are needed while your regular vehicle is in the shop for normal maintenance or repairs or for recreational purposes.
According to the Insurance Information Institute, on average, a car is in the repair shop for two weeks after an accident. Renting a car for those two weeks can be very expensive. People that find themselves in this situation learn that rental reimbursement is not included in basic policies.
Do you need more information about additional endorsements? Our agents and customer service representatives are here to help. Call us today at 1-888-949-6289 or visit your nearest Insurance Navy location. For your convenience, Insurance Navy is open from 8 a.m. to 9 p.m. CST, 7 days a week.
*Please review your own policy carefully for details on endorsements. Endorsements vary by insurance company.