American Collectors Car Insurance Review
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UPDATED: Jun 17, 2019
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There is a long list of companies who provide standard auto insurance to consumers however collector cars are different with special needs that must be addressed with a specialized car insurance policy.
Collector cars are not driven on the road much, so the type of protection they need is typically associated with risks due to damage inflicted at car shows or car club meetings; natural disasters; value depreciation or damages that happened while the car was undergoing restoration.
Based on these requirements, it is important for classic and collector car owners to choose an auto insurance company that has experience in addressing the very specific needs of a classic or collector automobiles.
About American Collector Car Insurance
American Collectors has over 30 years of experience in providing coverage to owners of collectibles and collector vehicles. The company has their policies underwritten by three different insurers, which enables them to provide high-quality coverage with prompt service and claims processing. The company is headquartered in Cherry Hill, New Jersey.
American Collectors Insurance truly understands car collectors. The company realizes that consumers value their collectibles as memories and experiences, not just as another possession.
It has a slogan that says “If it’s worth collecting, it’s worth protecting” and the company helps consumers do just that by offering insurance products for a variety of collector vehicles, as well as other types of collectibles.
The company takes pride in being a recognized leader in the industry, and strives to provide high quality customer service and affordable agreed value insurance to its customers.
Additionally, the company offers a wealth of other helpful information to collectors. American Collectors has established a community of collectors and encourages them to submit photos and stories of their classic cars and other collectibles online for everyone else to see and enjoy.
The company website also has a locater function for clubs and events. Additionally, the company runs a “My Cool Ride” weekly contest, and posts a photo of the latest winner that is always, of course, a beautiful collector vehicle.
Collector Car Insurance Products
American Collectors Insurance sells what is known as agreed value insurance. This means in the event that a collector car is stolen or becomes a total loss, the customer is reimbursed with an amount that was agreed upon between them and the insurance company, and which is based on the evaluation the car was given when the customer took out the policy.
This is different from typical car insurance companies, which sell coverage that only pays the current market value of a vehicle in the event of a loss. In addition, the value of classic automobiles fluctuates based on the desirability of the car, so an owner can protect himself from a large financial loss by taking out an agreed value policy on his collectible car.
American Collectors provides insurance coverage for a wide variety of collector vehicles. The long list includes antique cars, classic and muscle cars, customs, street rods and replicas.
American Collectors even also provides coverage for antique fire trucks, antique tractors and military jeeps. The company has additional coverage available for many other types of collectibles, including dolls, figurines, teddy bears, sports memorabilia, and model cars.
However, it does not provide coverage for paper collectibles such as cards or stamps, china or flatware, coins or jewelry, firearms, fine art or furniture.
The company’s website has questionnaires to help consumers evaluate whether their items would qualify for coverage, as well as whether they themselves would qualify.
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American Collectors Customer Service
The company has an official website that allows consumers to get a quote and buy insurance online. It also has instructions and an 800-number on the site to help customers who need to file a claim.
There are instructions and detailed requirements for the types of documents required for different claims, so that customers can get a quick start on assembling the documentation needed for the claims process.
On the website, there is a frequently asked questions (FAQ) page that provides a wealth of information for consumers by providing detailed answers to many common questions.
One of American Collectors Car Insurance Company’s newest programs is its TLC plan, which stands for Towing and Labor for Collectors. The company calls this the most complete and comprehensive package out there to cover towing and labor reimbursement.
The program has three levels of coverage, and will take care of expenses due to a missed car show, locksmith fees for a lockout (put that coat hanger away!) and the standard roadside assistance, among other things.
The premium level offers a theft reward, trailer guard, bail bond and legal defense benefit as well.
How much is American Collectors Car Insurance Rates?
American Collectors Insurance does not provide liability coverage alone. In other words, its liability policy will also include physical damage coverage, since the company insures collector vehicles and this type of coverage is very important for the types of damage a collector car may be exposed to.
There are other requirements the company imposes, which require vehicles to be kept in a fully enclosed and locked garage, as well as a maximum number of miles driven per year, which is typically 2,500.
Drivers who seek insurance from this company are required to have at least five years of licensed driving under their belts in order to qualify for auto coverage.
The auto policies may sound restrictive, but this allows the company to keep insurance rates very low. In addition, since collector cars are typically very well taken care of by their owners, securely garaged and driven very infrequently, these types of policies tend to have a much lower risk profile than standard insurance and this is reflected in the significantly lower cost as well.
American Collectors Car Insurance is a good choice for many owners but even with collectors cars its important to shop around and compare auto insurance rates.