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Before you trailer your classic to the next show, cruise-in, or club event, take five minutes to run through this quick coverage check. Most gaps show up here – not on the road.

Confirm Your Usage Terms Cover the Event

Some collector policies distinguish between driving to a show and being judged or displayed at one. Check that your policy’s definition of show use covers what you’re actually doing.

Check Your Mileage Allowance

Most collector policies cap annual mileage. If you’ve had an active show season, make sure you’re still within your policy’s limit – and let your broker know if you need to adjust it.

Verify Towing and Transport Coverage

If you’re trailering your car, confirm your policy covers damage that happens in transit, not just on the road – and that your roadside assistance includes flatbed towing suited to low-clearance vehicles.

Review Your Agreed Value

If you’ve done any work on the car since your last appraisal – new paint, mechanical upgrades, interior restoration – your agreed value may be outdated. A quick update now avoids a dispute later.

Keep Proof of Coverage in the Car

Some show organizers ask for proof of insurance on-site. Keep a copy of your policy declarations page in the glovebox or on your phone.

• Usage terms match the event type
• Mileage is within your annual allowance
• Transport and towing coverage confirmed
• Agreed value reflects recent work
• Proof of insurance on hand

Questions about your coverage before the next show? Visit our Contact page to reach out.

An accurate appraisal is the backbone of an agreed-value policy. If the number is too low, you’re underinsured. If it’s inflated without documentation, a claim can get contested. Here’s how to get it right.

1. Use a Qualified Collector Car Appraiser

Not every general appraiser understands classic and collector vehicles. Look for someone with specific experience in your car’s era and market – membership in a recognized appraisal association is a good signal.

2. Document Originality and Numbers-Matching Status

Matching numbers on the engine, transmission, and body can significantly affect value. Bring build sheets, title history, and any factory documentation to the appraisal.

3. Photograph Everything, Including Flaws

A credible appraisal reflects actual condition – paint, interior, undercarriage, engine bay. Thorough photos protect you if a valuation is ever questioned later.

4. Keep Restoration and Upgrade Receipts

Parts invoices, labor records, and shop documentation all support your value and make it easier to update your agreed value after major work.

5. Reappraise Periodically

Collector car values shift with the market. Plan to reappraise every 2-3 years, or sooner after a significant restoration, to keep your agreed value current.

Once you have a solid appraisal in hand, the next step is making sure your policy actually reflects it. That’s where a broker who specializes in collector vehicles earns their keep.

Get help matching your appraisal to the right policy – visit our Contact page.

If you own a classic, muscle car, or restoration project, the single most important line in your insurance policy isn’t the premium – it’s the valuation method. Get this wrong, and a total loss can leave you thousands of dollars short of what your car was actually worth.

What is Actual Cash Value?

Standard auto policies use Actual Cash Value (ACV): your vehicle’s value at the time of loss, after depreciation. That works reasonably well for a five-year-old commuter car. It works terribly for a numbers-matching classic, where an adjuster’s depreciation formula has nothing to do with what collectors actually pay for the car.

What is Agreed Value?

Agreed Value coverage flips the process. Before the policy is written, you and the insurer agree on your vehicle’s value – typically supported by an appraisal, comparable sales, or documented build costs. If the car is totaled, you’re paid that agreed amount, full stop. No depreciation schedule, no adjuster negotiation, no surprises.

Why It Matters at Claim Time

The difference shows up exactly when you can least afford it – after a total loss. With ACV, you’re negotiating your car’s worth with an adjuster during an already stressful moment, often using comparables that don’t reflect condition, originality, or provenance. With Agreed Value, that number was settled months or years earlier, when you had time to document it properly.

How to Set an Accurate Agreed Value

• Get a written appraisal from a qualified collector car appraiser
• Keep receipts and documentation for restoration work and upgrades
• Reassess value every 2-3 years, or after major work
• Photograph your vehicle’s condition, including numbers-matching components

Not every carrier offers Agreed Value coverage, and terms vary – some require periodic reappraisal, others cap coverage relative to appraised value. That’s exactly the kind of detail a broker who specializes in collector vehicles can walk you through before you sign anything.

Talk to a Lant Insurance broker about agreed-value coverage – visit our Contact page.

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