When you have a classic car, it is generally a good idea to avoid stated value auto insurance Rhode Island. With an appraisal, you can save yourself a lot of money and protect your time and investment. With an appraiser, you know that you’re getting a solid estimate on what your car is currently worth on the market.
Your classic or custom car is going to go up in value, not down, unlike your daily driver. So you want to take all the steps you can to protect that investment. With regular car insurance, your insurance company can pay you the lesser of two amounts: the amount that you have insured the car for or the market value of the vehicle. That market value could be determined by the insurance company, by an appraiser with little to no experience dealing with these types of vehicles.
If you approach an insurance company to get an agreed value policy, on the other hand, you can be sure that if the car is damaged or totaled, you will receive the amount of money that the car is worth. You don’t have to worry about a potentially lower market value appraisal from an insurance appraiser when you walk in the office with an appraisal already done.
One way to get the right policy at the right price is to call an appraiser. Professional appraisers have personal and professional experience with classic and custom vehicles, and they know how to carefully and accurately appraise them. They look the vehicle over from top to bottom to find any problems with it. They take dozens of detailed photographs and make plenty of notes to justify the final appraisal price they come to for the vehicle.
With this appraisal in your hand, you can seek out quotes from different insurance companies to get the right policy for you within your budget. Your car is likely to sit in a garage or other covered parking since it is a classic or custom vehicle, so you can be reasonably sure that, with your appraisal already done, you are going to find a better deal both in premiums and in any potential settlement that you will receive from the insurance company with an appraisal.
Stated value auto insurance Rhode Island is something to avoid. Contact us for an appraisal so that you can get an agreed value policy instead at a great price.