Do I need a special appraisal, or special insurance for my collector car?

Yes. Collector car insurance uses an appraisal to determine the fair market value for your collectible-quality vehicle. Most owners of collector cars carry standard insurance, which may result in less than half the compensation in the event of a loss.

If you choose not to carry special insurance, get a professional appraisal of your collectible vehicle on file with your insurance company, and demand a specific endorsement to protect your investment.