While you are shopping for the next cool vehicle, keep in mind you should look for specialty insurance to go with it.
Custom and collector vehicle insurance is a specialty product. It is tailored for vehicles that are not regularly driven, usually less than 5,000 miles a year. Maybe they are driven for fun, to local club events, a show or rally. Other restrictions or limitations could include that all drivers need to be over 26 years old and you must have another vehicle that you use as your regular “daily driver”. Company requirements vary.
Other items might include that the vehicle does need to be in a fully enclosed and locked garage, shop or building. But recently, some of the underwriters have started approving carports and other storage areas as protection.
Dont insure your custom car or bike for a “used vehicle” value from an underwriter that doesn’t understand the value of your vehicle. Specialty coverages are usually “agreed” values which will make sure you get what you have it insured for (minus any deductibles). You have too much time and money in your vehicles not to protect them for what they are worth.
Have more than one custom vehicle on the same policy? With most specialty policies, you pay the liability once, for all your cars or motorcycles listed on that policy.
Have an accident? Claims are settled by adjusters that understand custom and collector vehicles.
The basic breakout of categories for custom or collector vehicle insurance are:
Antiques (over 25 years old),
Classics (20 to 24 years old)
Collectibles (15 to 19 years old)
Customs (mechanically or cosmetically altered)
Exotic cars (less than 15 years old but appreciating)
Street rods (usually cars built before 1950 that have been and mechanically or cosmetically altered)
Kit cars (built from a package)
Each company has a different variation on their categories and what qualifies as modifications.
The vehicle usually needs to have some appreciable characteristics. If the vehicle is newer and doesn’t have any collectable or appreciable status, it’s probably not going to meet the underwriter’s guidelines.
Doesn’t mean a new car can’t be on a specialty policy, it just depends what model and the market for the vehicle.
Oh, even collector boats can be insured with a specialty company. So that old Chris Craft ,in the barn, better finish the restoration and put it in the water.
FOR IMMEDIATE RELEASE
SEMA ANNOUNCES NEW FRIDAY NIGHT ATTRACTION
– Consumers invited to “SEMA Ignited” –where all-star vehicles, industry icons and media converge at the conclusion of the SEMA Show –
- Launch of innovative consumer-awareness and media event
- Celebration of the SEMA Show’s top vehicles, personalities, and equipment
- Additional ROI for SEMA Show exhibitors
DIAMOND BAR, CA (August 1, 2014) – The world’s most unique and celebrated customized vehicles from the 2014 SEMA Show will gather and be accessible to the public on Friday, November 7, 4:00-10:00 pm, as the SEMA Cruise finds its way to a new event taking place immediately after the SEMA Show at the heart of the Las Vegas Strip. After four days behind closed doors in the Las Vegas Convention Center (LVCC), visible only to industry professionals, hundreds of cars and trucks from the SEMA Show will roll out of the building in the SEMA Cruise and, for the first time ever, assemble at “SEMA Ignited,” a celebration that will include food, music, celebrities, iconic builders and exhibitor displays.
“SEMA Ignited is an extension of the SEMA Show that will allow exhibiting companies to gain additional media and consumer exposure for the acclaimed vehicles and innovative gear they bring to Las Vegas,” said Chris Kersting, SEMA President and CEO.
For years, auto enthusiasts would assemble at the LVCC at the conclusion of the SEMA Show simply to get a glimpse of the amazing vehicles as they exited from the trade-only event. That phenomenon eventually led to the SEMA Cruise, and now, the SEMA Cruise has a destination, as hundreds of one-of-a-kind cars and trucks will congregate at The LINQ Promenade, Las Vegas’s new open-air shopping, dining and entertainment district that includes the world’s tallest observation wheel, the High Roller.
“This event will be a platform for a consumer and media blitz, featuring the best of the 2014 SEMA Show,” explained Kersting.
The event will give consumers a rare opportunity to collect and share images of hundreds of customized vehicles featuring the newest and most innovative products from the 2014 SEMA Show. The Friday night event will also serve as the backdrop for nationwide media coverage–including on-site taping for a nationally televised broadcast special–“best of show” awards and include food trucks, music, entertainment, automotive celebrities, builders and more.
The new event gives SEMA Show exhibitors additional reach, and an opportunity to excite consumers by showcasing the newest vehicles and equipment from this year’s SEMA Show. Participation is free of charge to exhibitors by virtue of their involvement in the SEMA Show. Interested parties should e-mail email@example.com for details.
About the SEMA Show: The SEMA Show is a trade show produced by the Specialty Equipment Market Association (SEMA), a nonprofit trade association founded in 1963. Since the first SEMA Show debuted in 1967, the annual event has served as the leading venue bringing together manufacturers and buyers within the automotive specialty equipment industry. Products featured at the SEMA Show include those that enhance the styling, functionality, comfort, convenience and safety of cars and trucks. Additional details are available at www.SEMAShow.com or 909-396-0289.
About The LINQ Promenade & High Roller: Caesars Entertainment is redefining the iconic Las Vegas skyline with The LINQ Promenade, an open-air shopping, dining and entertainment district, anchored by the world’s tallest observation wheel, the Las Vegas High Roller. Located at the heart of the world-famous Las Vegas Strip, The LINQ Promenade features more than 30 unique retail, dining and entertainment venues and plays host to a variety of special events, festivals and more. Topping out at 550 feet, the High Roller observation wheel is the focal point of the unique urban entertainment district. The wheel’s 28 glass-enclosed cabins feature an interactive experience including video and music that fade away to unveil spectacular views of the famed resort city in the 30 minutes it takes to complete one full revolution. Each cabin accommodates up to 40 people. Cabins are available for individual or group experiences. For more information, visit TheLINQ.com.