TWFG Insurance can help you find the right coverage for your classic and collector car. Providing you with the special insurance that includes agreed value loss settlement for antique, classic, and vintage cars. Also modified collector cars, reproductions, replicas, restorations, and modern classic cars.
A car can be worth more than the depreciated value listed in a price book. Once we agree on a value for your prized possession, that’s what you’ll get in the event of a total loss. There’s no depreciation or questions. TWFG Insurance will shop with several companies for the best coverage at the best price.
Before the policy activates, you as the car’s owner, the agent, and our underwriters agree on the car’s value and insure it for that amount. In the event of a total loss, that agreed upon value is the payout amount. The deductible of course applies, but there is no depreciation and no misunderstanding.
Some specialty auto policies, and a typical daily-use auto policy, offer stated value coverage. It’s not the same. In fact, it is really just actual cash value coverage with a maximum limit – the stated value – and the carrier pays the vehicle’s market value which it determines after the loss. If the market value has dropped since the policy was purchased, then that lower dollar amount is the payout.
Yes. Car club membership in a approved club will give you a 10% discount.