Ron and Michele.jpg

Special Insurance for Your Special Car

The inside scoop on insuring your classic car from insurance experts, Michele and Ron Horowitz of

the Bay Area Insurance Shop.

Insurance is a financial service product to provide protection in case of a sudden, catastrophic event– accident, theft, fire and storm damage among them. You pay a premium for coverage to a company that sets rates based on the risk level they perceive.

     Many times people are surprised to find out the rates for specialty car insurance are much lower than those for a regular car. Based on the concept of rates vs. risk, we can see why lower rates will be the case. Specialty cars are stored with the protection of a garage (or carport in some cases) and not subjected to commuting traffic. We tend to be more aware when driving them and part them away from the crowd. All of these factors contribute to fewer claims – and that leads to lower rates.

     Every specialty insurance company has a different risk strategy and weighs factors independently when setting their rates. Therefore, it is important to find a specialist who understands the specialty car insurance market and the differences between the specialty carriers. As explained by Agency Owner of Bay Area Insurance Shop, Michele Horwitz, “we look at each client and their circumstances. Just as financial planners offer different plans for different clients, we too can shop for the best rates depending on your car and life situation. You don’t have to call all of the companies and take time to answer the same questions over and over – we shop for you.”

     Specialty insurance differs from traditional auto insurance because the policies are typically “agreed value” policies. Whereas a regular insurance policy will value the car at ACV (actual cash value, related to the book values), specialty insurance valuation is determined by the owner. In most cases an appraisal is not needed – the value can be agreed upon with just photographs.

     Specialty insurance policies are not just for older cars. As long as the car is not primary transportation, is stored inside a garage and has a sporting or fun nature, new cars can also be covered by agreed value policies. Michele also added “specialty insurance companies understand the hobby. There are policies available for race cars and the trailers that haul them, kit cars, young drivers who have put their time and effort into building cool cars, and project cars that aren’t ready to see the road but have significant value in all of the parts that are being assembled.”

     Insurance isn’t as fun as the latest speed part, but it is an essential part of the ownership experience. Bay Area Insurance Shop can help guide you through the process. “I’ve been in business for twenty-two years, and writing specialty car insurance for ten years,” Michele proudly noted, “I’m here to be your advisor make the process simple so that you can simply enjoy your car!”

For more information contact Michele at Bay Area Insurance Shop. (727) 446-4416 or