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Classic Car Insurance
Get Affordable Auto Insurance for Your Classic Car Today
You love restoring old cars to their former beauty, and at Insurance Navy, we love helping you protect that investment. Our mission is to get you the best and cheapest insurance quotes for your classic, antique, or specialty vehicle.
We take the time to shop classic car insurance rates from multiple companies so you get a wide variety of both savings and coverage. This allows you to focus on your baby while we handle the rest.
What is Classic Car Insurance?
Classic car insurance is specialized insurance for vehicles over 25 years old that are in good working condition and worth more than their age. It’s an alternative to regular car insurance for classic, collector, vintage, antique, and military vehicles.
For many, a classic car is more than a car—it’s an investment. Classic car insurance protects that investment.
Unlike a standard auto insurance policy, a classic car policy often assesses the car’s value on an agreed value basis, where the car owner and the insurer agree on the car’s worth at the policy’s inception.
Classic car insurance is tailored to the unique nature of these vehicles, making it an essential coverage for collectors and enthusiasts.
Do You Need Classic Car Insurance for Your Vintage Car?
This is the number one question that classic car owners have. While regular car insurance may cover some expenses, it’s unlikely to cover the total value of your collector vehicle.
Here’s why:
Auto insurance companies need to determine how much a classic car is worth. They base the car’s value on the actual cash value, which is based on the car’s age, mileage, and depreciation.
However, classic or vintage cars that have been restored or customized are likely worth far more than their depreciated value.
For this reason, you must ensure you have specialized coverages to help pay for repairs if your classic car suffers damage.
Types of Coverage for a Classic Car
- Collision insurance
- Comprehensive insurance
- Property damage insurance
- Body injury liability insurance
The primary difference is that classic car insurance provides reimbursement based on an agreed-upon amount between the classic insurance provider and the vehicle owner.
Since well-cared-for classic cars often appreciate over time rather than depreciate, increasing coverage limits on your classic car insurance policy is possible.
Another issue is that it’s more expensive to repair and restore a damaged classic car than to make the same repairs on a modern vehicle.
Having the right amount of classic car insurance and the suitable types of insurance will ensure you’ll get the money you need to find and replace even the most obscure and expensive classic auto parts from quality manufacturers.
Does Your Vehicle Qualify for Classic Car Insurance?
It’s easy to qualify for a classic car insurance policy. However, there are some crucial guidelines you’ll need to meet before you can purchase this particular type of classic auto insurance.
This applies both to the vehicle and to the driver.
Types of Classics We Insure
Collector Cars
Luxury Cars
Hot Rods
Classic Trucks
Muscle Cars
Street Rods
Exotic Cars
Antique Cars
Vintage Cars
Classic Car Coverage Qualifications
First, it’s important to note that age alone isn’t enough to make a car a classic.
Suppose your older car is a rust bucket with far better days. In that case, you’ll likely have trouble getting classic car insurance.
The specific requirements may vary from one classic insurance provider to the next, but most require minimum qualifications for the types of cars they will insure.
Collector Cars Age
Generally, to qualify for vintage car insurance, your vehicle must be 10 to 20 years old.
If it’s 25 or older, it will fall into the custom, vintage, or antique vehicle category.
Hotrods, Muscle Cars, Vintage trucks and SUVs, and Custom cars are some types of vehicles that qualify.
In some rare cases, exotic cars, such as Lamborghini or Ferraris, may qualify as collector cars even if they are new.
Condition of the Classic Car
Most classic car insurance companies expect the classic vehicles they cover to be well-maintained and in good condition.
In some cases, they’ll cover a vintage car that’s in the process of being restored.
However, if the vehicle is deemed to lack pride of ownership, you may not be able to obtain collector car coverage.
Use of the Classic Car
Classic car insurance isn’t meant to cover a daily driver. The level of restriction will vary from company to company.
Some are broader, allowing for average occasional pleasure driving. In contrast, others will strictly forbid drivers from using the vehicle for errands or driving to work.
Usually, you will have mileage limits that restrict driving less than 5k miles per year.
Storage of the Collector Car
Usually, classic car insurers require you to store your classic car or truck in a private garage or storage unit.
You may get permission to store your belongings in driveways or carports.
However, you can expect your antique car insurance rates to be much higher.
Collector Car Insurance Driver Qualifications
Even if your car qualifies for collector car insurance, you’ll still have a few more qualifications you must meet.
The car insurance company also wants to know more about the driver’s history they will insure.
In most cases, they’ll require the classic car owner to be at least 25 years old and have a minimum of 5 to 10 years of driving experience.
A clean driving record with no accidents or major violations in the past three to five years will also help.
You’ll also need to show you have a separate regular-use vehicle for daily driving.
What Kind of Classic Auto Insurance Policy Should I Buy?
When shopping for collector car insurance policies, the agreed value is one of the most important terms to understand.
This is the amount you’re insured to get (minus the deductible) if your car is totaled.
Also, add restoration coverage for your collector car, which boosts your guaranteed value during restoration.
Some classic car owners also add optional coverage for replacing lost or stolen parts for extra protection or roadside assistance in case of breakdowns.
Ask your insurance agent to explain these terms in any policy you’re considering and help you get the right collector car coverage.
Also, consider getting a bundle with your standard auto policies to save money on your car insurance rates.
Why choose Insurance Navy for Classic Auto Insurance?
Since 2006, Insurance Navy has provided peace of mind to classic car collectors and vintage vehicle enthusiasts by offering the best classic car insurance in the industry.
We make getting an Agreed Value collector car insurance policy a smooth and personal experience.
Your collector vehicle is more than an asset – your passion and obsession.
Our team of collector insurance specialists will craft a policy to suit your needs.
Whether it’s a classic car, a vintage vehicle, or a collectible, we’ll ensure you have the right coverage to repair it or get its full Agreed-Value back if it’s a total loss.
- Agreed Value
- Choose your repairer
- Options for all types of collectors
- Collector Insurance Specialists
Get a Free Quote today for Classic car insurance and drive worry-free tomorrow!
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