Classic Car Insurance

What is Classic Car Insurance?

Classic car insurance is a specialized type of auto insurance coverage that is designed to protect vintage or collector vehicles. Classic cars are typically over 25 years old and have been restored or maintained to a high standard. Classic car insurance policies differ from traditional auto insurance policies in several ways, including the types of coverage offered and the ways in which premiums are calculated.

What type of coverage do I need for my classic car?

When it comes to classic car insurance, there are several types of coverage available. Here are some of the most common types of coverage:

• Agreed Value: This coverage ensures that you'll receive the full, agreed-upon value of your classic car in the event of total loss or theft. Before a policy is issued, you and your insurance provider will set an agreed-upon value for your vehicle, and that value will be used to determine your premium and deductible.
• Collision: This coverage pays for damages to your classic car that occurs because of an accident with another vehicle or object.
• Comprehensive: Comprehensive coverage protects your classic car against damage that is not caused by a collision, such as theft, vandalism, or weather-related damage.
• Uninsured/Underinsured Motorist: This type of coverage will protect you in case of an accident caused by an uninsured or underinsured driver.

Is liability-only coverage available for classic cars?

Yes, liability-only coverage is available for classic cars. Liability-only coverage is the minimum level of coverage required by law in most states. It only covers damage caused to other people and their property if you are at fault for an accident. This type of coverage is not recommended for classic cars, however, since preserving the value of your car is usually your top priority.

Are there any discounts available for classic cars?

Yes, there are multiple discounts available for classic cars. Here are some of the most common discounts offered by insurance providers:

Multi-car discount: If you insure more than one vehicle with the same provider, you could be eligible for a discount.

Low mileage discount: If you drive your classic car only occasionally, you may qualify for a low mileage discount.

Club membership: If you are a member of an approved car club, you could receive a discount on your insurance premium.

Agreed mileage discount: If you agree to a specific yearly mileage limit, you may qualify for a discount on your insurance.

Safe driver discount: If you have a clean driving history, you could receive a discount on your classic car insurance premium.