Classic Car Insurance

Does your love of cars border on obsession? Perhaps you own a piece of automotive history — a perfectly preserved 1930s dual-cowl phaeton or 1960s roadster. Maybe you spend weekends cruising the boulevard in your classic custom or hot rod. Or your taste might run to exotic sports cars. Whatever your automotive passion, you can protect your collectible vehicle — and your investment in it.

Classic car insurance is a special policy that helps protect antique or classic cars. Definitions of a classic car can vary, but the Insurance Information Institute (III) says a car is considered a classic when it's at least 25 to 30 years old.

Standard car insurance may provide some coverage for a classic car, but it may not cover the vehicle's total value. That's because standard policies consider age, mileage, and depreciation when determining how much a car is worth. But if a classic car has been customized or restored, it may be worth more than its depreciated value. Therefore, a standard car insurance policy may not be enough to help cover the cost of repairs after an accident.

Classic car insurance typically offers coverage types similar to a personal auto insurance policy:

Liability auto insurance

This coverage pays for damage and injuries you cause to others. It also pays for a legal defense in case you are sued because of a car accident you caused. This coverage type is required in most states if you plan to drive your vehicle on public roads.

Collision and comprehensive insurance

Together, these insurance types cover a wide range of problems such as accident damage to your car, auto theft, vandalism, collisions with animals, fire, flood, hail, falling objects, and riots.

Uninsured motorist coverage

This coverage pays for your medical bills if someone without insurance crashes into you. Some states require you to carry this coverage. In some states, it can also cover car damage caused by an uninsured driver.

In addition to the standard coverage types, classic car insurance typically has some optional coverage types that you can tailor to your needs:

They're often more expensive than everyday rides and may require more complicated and specialized repairs if damaged. Classic and collector cars are also more likely to be stolen or vandalized by their value and rarity, making insurance all the more critical.

More than the age and value of a vehicle is considered when qualifying for classic car insurance. The III says you'll likely need to meet other requirements. For example, a vehicle protected by classic car insurance typically cannot be used for everyday driving. A classic car insurance policy may include mileage limitations, and some insurers require proof that the car is stored correctly and that you have another vehicle for routine driving.

Some insurers allow you to drive the vehicle to car shows and auto club events. If not, the III says you may need special coverage for those kinds of trips. Additionally, the insured vehicle typically must be securely stored in a private garage or other locked facility when not in use.

Insurers may also require a clean driving record to purchase or renew a classic car insurance policy.

Get in touch with us to learn more about coverage options so you can protect your classic car.

It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options

If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.

Contact us today to help you with multiple options to choose from.