Classic Car Insurance
The weather is warming up and that means it’s time to take your classic car out of the garage and take those nice drives up and down the beautiful coastline! Classic car insurance works a lot like “regular” car insurance. For those of you who have just purchased your dream classic car and aren’t sure how it works, this post is for you. First off, does your car qualify for classic car insurance? Classic car insurance is for cars 10-40 years old and has historical interests or collectible value. As we said, it works similarly to typical car insurance but there are some key differences. You can obtain liability, comprehensive, collision, and other specialized coverages just as with your usual auto policies. The difference lies in that there are some rules the owner must follow. A lot of agencies require that the car be stored in a secure location, such as a garage. Second, the vehicle cannot be used for daily use and can have a certain mileage requirement per year. Lastly, and very importantly, the owner of the vehicle may only be eligible for classic car insurance if they have a clean driving record free of any major infractions, such as DUI, reckless driving, or excessive tickets. Here are some other differences in coverage between typical coverage and classic car coverage:
Insured Value: Classic cars can appreciate, whereas automobiles depreciate. This means that your classic car coverage will be an agreed-upon value between the insurer and the policy holder the vehicle is worth.
Usage: Classic cars will only be insured if they are used for leisure, such as car shows and weekend drives.
Original Parts Coverage: Classic car insurance will cover the cost of the original factory parts if damages occur in an accident. Regular auto coverage will cover any type of parts, not just those that come from the factory.
It’s important to obtain classic car insurance if you own a collectible vehicle. It can cover damages that not even typical auto does, such as the original parts. It was your dream to own this car… now you can treat it with the best care that you can! Contact us today for a classic auto policy quote. We work with multiple carriers to offer you the best rates for the best policy!