Classic Car Insurance in Michigan
The state of Michigan requires a minimum amount of insurance on your classic car in order to operate it on the roadways of the state. You must maintain insurance for personal injury protection, property protection, bodily injury, and property damages.
What are the Minimum Requirements for Michigan?
Michigan is a no-fault state which requires you to carry a minimum amount of insurance to protect others and yourself in case of an accident. It is expressed as a 20/40/10 policy, meaning that you must have at least $20,000 bodily injury coverage per person and $40,000 per each accident and property damage liability coverage for $10,000. In addition, the state also requires you to have property protection insurance with a minimum of $1 million and personal injury protection for your injuries sustained in an accident.
What Additional Coverage is Available for My Classic Car?
Most classic car owners realize that their restoration project is very valuable. You should add collision insurance to your classic car insurance policy for full coverage in an accident that is deemed your fault. Comprehensive coverage will protect from any perils to your property that are not caused by a collision. This portion can reimburse you for storm damages, falling limbs, hail damage, and fire or theft of your car. Underinsured and uninsured car coverage will pay for losses caused by another driver with either too little insurance to cover your damages or with no protection at all. Classic car insurance differs from a normal auto policy because it takes into account the appreciation of your vehicle rather than the depreciation that normal vehicles experience. An agreed-upon amount will be made when creating your policy.
At North Coast Insurance Services in Lexington, MI, we realize how valuable your classic car can be and know that you want to be fully insured to protect your assets. Whether you bought your classic car restored or spent months on end restoring it yourself, you want to make sure you are covered from any damages or incidents. By reaching out to our office, we can help you get a quote and answer any questions you may have about classic car coverage. Contact our office in Lexington, MI for the information you need on classic car insurance for your vehicle in Troy, Lexington, or anywhere in the state.