What is classic car insurance and how does it differ from conventional car insurance?

Classic car insurance is auto insurance designed specifically for older/classic cars. Drivers interested in classic auto insurance must first understand what makes a car eligible for classic car status. What a classic car insurance company deems as "classic" will vary from company to company. However, classic car insurance is designed to protect antique or classic cars like conventional auto insurance. However, there are differences between conventional and classic insurance. Our Neff & Associates Insurance Services Inc. team is committed to eliminating any confusion for our Pismo Beach, CA residents.

What Makes a Car "Classic"?

Classic cars are typically 25-plus years old. However, the definition of a classic car can vary from one insurance company to the next. Also, classic cars tend to be restored, of historical interest, or collectibles. Typically, a classic car is at least twenty years old but less than forty years old and is also kept to its original design and specifications.

How Does Classic Car Insurance Differ from Conventional Car Insurance?

Modern cars are insured based on their real/true cash value, which depreciates when you buy a car and drive it off the lot. Conversely, classic car insurance is insured based on an agreed-upon cash value. The owner and the insurance company agree on the value of the insured car. Another difference between classic and conventional car insurance is the cost. Classic car insurance tends to be cheaper than conventional insurance because classic cars are typically NOT daily drivers. Classic car insurance companies normally put restrictions or limits on how much you can drive a classic car. Our team at Neff & Associates Insurance Services Inc. is standing by to answer any questions our Pismo Beach, CA residents may have. Give us a call.

Why do businesses in Pismo Beach need insurance?

Anyone that is going to move to the Pismo Beach, CA area will quickly find that it can be a great place to work and live. It also can be an ideal location for starting a business. If you are a business owner here, you will need to get proper insurance. There are various reasons companies will need to carry commercial insurance. 

Support and Protect Organization

A primary reason to get a commercial insurance plan is so you can protect and support the organization. There are various risks faced by businesses daily. These can include the risk of being named in a liability lawsuit or having commercial assets damaged or stolen. If you obtain the appropriate insurance, you will be able to mitigate both of these risks. 

Ensures Compliance with Requirements

It is also a good idea for you to get a commercial plan to ensure you are in good standing with any requirements that you have. Any business in this part of California is bound to have insurance requirements. Those that have taken out a business loan, leased a place of business, or have raised outside equity will need to carry insurance. If you do get one of these plans, it will help keep you in compliance with any of these obligations. 

If you start a business in the Pismo Beach, CA area, you will need proper coverage for it. As you are evaluating your options for commercial insurance, it would be wise for you to speak with Neff & Associates Insurance Services Inc. There are many choices to make when getting commercial coverage, and Neff & Associates Insurance Services Inc can offer the support needed to evaluate your needs and options.