Importance Of Antique Auto Insurance

Cruising down the street in my antique car, enjoying the weather, waiving to neighbors. Sounds pretty good doesn’t it, maybe even familiar? If so, you likely have or know someone who has an antique or classic car. Owning a classic can be quite enjoyable, especially when you’re turning heads on the roads. Unfortunately, to retain value and prevent wear or damage, classic car owners store their vehicle for long periods of time. This may lead them to cancel an auto insurance policy, but classic auto insurance is important and affordable.

What’s So Special About It?

Before we discuss antique auto insurance, we need to discuss the difference between standard insurance and antique or classic. Antique auto insurance policies can be annual, or 6-month periods. The most important difference between the policies is the cost, which antique auto insurance is cheaper. This is due to the fact people don’t drive their classic cars nearly as often, making them low-risk.

Another difference between standard and antique auto insurance is the deductible. Many antique insurance policies do not require one. This means not having to pay out of pocket for damages; you may want to consider your vehicle’s value before purchasing specific insurance.


Antique cars are highly valued, especially when in good shape. Some people have gone as far as restoring an old vehicle, which increases its value immensely. Increased value means adjustments to insurance rates, so if you’ve restored an antique car, adjust your insurance as well.

The value of your classic car can also play a major role if you stick with standard insurance. Unlike antique auto insurance, standard insurance will value your vehicle similar to the original price of purchase. On the other hand, antique auto insurance bases the value of your vehicle off of its present-day worth.

Not A Fortune Teller

Earlier, the importance of having antique auto insurance, even when in storage was briefly mentioned but not explained. If your area has on/off weather, it’s likely tempting to store your classic and cancel the insurance. This is not wise, because a car in storage is still vulnerable to accidents and theft.

A car in storage, especially a highly valued, rare, classic one, is a large target. If someone broke into your garage; stole the car after you canceled the insurance, you’d be out on its entire value. The same thing goes for accidental damage while in storage.

Take Home Message

The value of your antique car is high, rates for antique auto insurance are low, so why not have it? You run a huge risk using standard insurance on your classic car, not to mention paying more for less value. Even if you believe your car is safe in storage it’s worth at least purchasing a 6-month policy to be safe.

More Information

Our customer service team is here to help with any and all of your insurance coverage needs. Call us today at 1-888-949-6289 or visit your nearest Insurance Navy location. For your convenience, Insurance Navy is open from 8 a.m. to 9 p.m. CST, 7 days a week.

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If you’d like to take a look at more blogs about proper car maintenance, we have a bevy of them on our website. Consider taking a peek at these before you leave:

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