Classic Car
Insurance

In this guide

What is Classic Car Insurance?

What are the types of Classic Car Insurance?

Why is Classic Car Insurance important?

How do you qualify for Classic Car Insurance?

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What is Classic Car Insurance?

Classic car insurance is a particular 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 regular car insurance policy may not be enough to help cover the cost of repairs after an accident.

What are the types of Classic Car Insurance coverage?

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 if 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:These insurance types cover many problems, such as car accidents, 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:

A) Cherished salvage coverage

B) Spare parts and automotive tools coverage

C) Vehicle under construction coverage

D) Automobile coverage

Why is Classic Car Insurance important?

They’re often more expensive than everyday rides and may require more complicated and specialized repairs if damaged. In addition, classic and collector cars are more likely to be stolen or vandalized of their value and rarity, making insurance all the more important.

How do you qualify for Classic Car Insurance?

More than age, a vehicle’s value is considered when qualifying for classic car insurance. In addition, 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 properly 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, you may need special coverage for those kinds of trips, the III says. 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 you to have a clean driving record in order 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.

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Classic Car Insurance