Heritage Insurance

Greg discusses insurance policies for classic cars in this episode of Ask The Expert. 800 CHAB radio presents Ask the Expert with Greg Marcyniuk of Heritage Insurance located in Moose Jaw.

Here's a full transcript of the episode.

Rob Carnie: 800 CHAB's Ask the Expert featuring Greg Marcyniuk at Heritage Insurance in downtown Moose Jaw today.

Greg, it's a great time of year. You've got the cars out. The classic cars, the antique cars. There are some tips from you to the classic car owners, to the antique car owners when it comes to insurance.

Greg Marcyniuk: That's correct Rob. The biggest thing is, whether you're just driving the vehicle in a few parades, or if you're going and using it on a daily basis, there are different policies out there for these different circumstances, because you shouldn't be paying extra if you're just putting it in parade and just going out every now and again. Or, if you're driving it every day, of course, it's going to cost you a little bit more.

Just when it comes to classic car insurance policy, what it typically will cover you is Agreed Value Coverage. And it pays for the full insured value with no depreciation in the event of a loss — less your deductible, of course. And we've got a company that you will not need an appraisal for now because they have the telematics there that can actually determine what the value is approximately.

The other thing that is really good on these policies is that you can have inflation guard, and that compensates inflation and appreciation because most of these vehicles do appreciate over time, and the policy increases with the vehicle in value quarterly, not annually. And there's also another great option that I know some of our classic cars owners have used, and that's spare parts coverage.

If you can't get them, they will help you find them.

Additional coverage options that are available that we can add on is emergency towing, in case of a break down. Roadside assistance, emergency lock out, also emergency travel expenses, in case your vehicle breaks down while you're away from home. A lot of people will take these vehicles and go off to different car shows.

And also another great feature is car show expenses. So if you've got a very nice classic car and you're taking it to car shows and you are being paid for it, this policy will pay for expenses associated with missing a car due to a breakdown. So if you're going to that car show and it breaks down, it will.

And another great feature is personal effects, which policy reimburses you for personal items that are vandalized or stolen when they're reported to the police. So you're not having to put that actual claim on your home policy — because typically, if you have any personal items in a vehicle, it goes over to your home policy. So there's some great coverages here, and a lot of people don't realize that these coverages are available.

So, I certainly do encourage any classic car owner to take the time. Come on down to the corner of 1st and Fairford Northwest and talk to one of our fine brokers.

Rob: And these are options that haven't always been available. I mean, some of this is new, right?

Greg: That's correct, Rob. We're very fortunate to have gotten this company that does provide these coverages. And we're actually quite excited to provide this to our clients. And anyone out there that has a classic car, please come on down, see us. And it's very reasonably priced as well.

Rob: Antique and classic car insurance. There's something new, and you can learn all about it at Heritage Insurance in downtown Moose Jaw.

(Video transcription by Speechpad)

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Heritage Insurance Ltd., Insurance Services Office, Moose Jaw, SK
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