Insuring “Toys”

It has been a long, cold winter here in Minnesota.  But, if the weatherman is to be believed, temperatures here are could be close to 50 degrees within the next week or so. THAT has us thinking about summer, and all of those cool summertime toys people are eager to start pulling out of storage.

Maybe because our winters are so long, Minnesotans love their boats, RVs, ATVs, and cars. At Fortress, we can help you cover all of the things that help you enjoy those precious few warm summer months. Camping, fishing, or cruising in your convertible? Be sure your coverage fits your needs. This is easier said than done sometimes, especially if your car is vintage.

As you remove the cover and pull that classic car out into the sun for the first time, getting it to the carwash and polishing up the chrome, be sure you’re covered by adequate insurance. Car insurance costs are based in part, on the book value of the car. For example, this 1966 Ford Fairlane convertible sold for $2,700 when it was brand new. At 48, it is considered a “Classic” or “Antique” car now, though, and calculating its value is difficult at best. It certainly couldn’t be replaced for $2,700 today!

When insuring a classic car, it is important to know the type of coverage you have and to insure for the actual cost of replacing the item. When you are talking about vintage cars, the replacement cost can get pretty high pretty fast. You want an agent who is going to negotiate on your behalf to get an agreed-upon valuethat you and your insurance carrier can both live with.