Antique truck insurance is an important consideration for people interested in protecting their investment. Also known as classic truck insurance it’s designed to protect the collector in the special situations that antique trucks create. For instance, there is a big difference in the value of a 57 Chevy truck and a restored 57 Chevy that is shown at auto shows. If your insurance company doesn’t know the difference and the value hasn’t been agreed to up front, there could be a major difference in value and payout if an accident were to occur.
Another common special issue that antique truck insurance can address is the fact that these vehicles typically aren’t driven very often. If you only need coverage when traveling back and forth to auto shows and the truck will be garaged the rest of the year, your premiums are likely to be much lower than if you used the vehicle as a daily driver. Again, these things need to be thoroughly discussed and agreed upon with the insurance company so there is no confusion about what is covered and what is not.
In fact, some classic truck insurance policies require that the truck be locked in a garage or in a trailer when it’s not being shown. Sometimes they even go so far as to require that the garage or trailer be locked. Some restrictions even go so far as to say that the truck can not be left unattended in a parking lot. This is one of those situations when the fine print must be read in detail. Hiring a lawyer to look over the policy can help safeguard against any misunderstandings that could lead to costly and drawn out legal battles in the future.
Perhaps you are considering foregoing insurance on your antique truck altogether because you never actually drive it. This might not be such a wise decision. Consider not only the potential high value of the truck but the difficulty to replace it as well. How much time was spent restoring it to specific detail. Are those parts easy to get a hold of? And most importantly, what kind of sentimental value does the classic truck hold? Many people pour their heart and soul into the restoration. They spend countless hours and perhaps years working a labor of love. It really would be a shame to lose it all because it was decided to risk it without insurance.
As always, remember to contact a trusted professional when dealing with any type of insurance. Especially one as unique as classic truck insurance.