1. Have your car appraised to determine the cost to replace your vehicle in the event of a total loss. Highly collectible and custom cars may be a one of a kind with no market comparables. An appraiser can document what you have invested in the vehicle and justify that amount to be insured.

2. Buy Agreed Value Insurance. Only agreed value insurance will insure your vehicle for the replacement cost. The stated value insurance you use for you daily driver cars will not pay you the replacement value in the event of a loss. Make sure you are buying an “Agreed Value” policy.

3. Store your vehicle in a safe location. Most folks assume that they will never have a claim because the trailer there pride and joy from one location to another. We see losses to collector vehicles all the time from house fires and weather related damage that no one could have foreseen. In my opinion that’s where a real total loss is going to come from, not a traffic accident.