Popular Guide To Classic Car Insurance with Coverage Options in 2023

Guide To Classic Car Insurance

Classic car insurance is designed specifically for vintage, antique, or rare automobiles that are considered collector's items.

These cars are typically older than 20 years and have historical or sentimental value. Classic car insurance policies provide specialized coverage to protect these vehicles and their owners in case of accidents, thefts, or other losses.

Here's a guide to classic car insurance:

Determine if your car qualifies as a classic car: Most insurance companies consider a car to be classic if it's at least 20 years old and has been maintained in its original condition or has been restored to its original condition.
Shop around for the best classic car insurance policy: Unlike regular car insurance policies, classic car insurance policies are not standardized. Therefore, it's important to shop around and compare policies from different insurers to find the one that fits your needs.
Understand the types of classic car insurance coverage: Classic car insurance policies typically offer agreed value coverage, which means that you and the insurer agree on the value of the car before you purchase the policy. Other types of coverage available include liability coverage, collision coverage, comprehensive coverage, and uninsured/underinsured motorist coverage.
Know the mileage restrictions: Most classic car insurance policies have mileage restrictions that limit how much you can drive your car per year. The mileage limit is usually around 5,000 miles per year, although this can vary depending on the insurer.

By following these tips, you can find the right classic car insurance policy to protect your prized possession.

What Is a “Classic Car”?

A classic car is a vehicle that is typically older than 20 years and has a historical or sentimental value. These cars are often well-maintained and preserved in their original condition, or they may have undergone extensive restoration.

Classic cars are considered collector's items, and they are often sought after by enthusiasts who appreciate their unique design, craftsmanship, and cultural significance.

The term "classic car" is sometimes used interchangeably with "vintage car" or "antique car." However, there are some differences between these terms.

A vintage car is generally considered to be any vehicle manufactured between 1919 and 1930, while an antique car is typically defined as a vehicle that is at least 45 years old.

The definition of a classic car can vary depending on the context and the individual or organization using the term. Some organizations, such as the Classic Car Club of America, have specific criteria for what qualifies as a classic car.

For example, the CCCA considers a car to be a classic if it is a "fine" or "distinctive" automobile, produced between 1925 and 1948, and is a "rare or unusual specimen" of its kind.

Ultimately, whether a car is considered a classic depends on a combination of factors, including its age, design, rarity, and cultural significance.

What Types of Cars are Covered by Classic Car Insurance?

Classic car insurance policies are designed to cover a variety of vehicles that are considered collector's items.

Generally, these policies cover cars that are older than 20 years and have a historical or sentimental value. Some of the types of cars that may be covered by classic car insurance include:

Vintage Cars: These are cars that were manufactured before the 1930s.
Classic Cars: These are cars that were manufactured after the 1930s and are at least 20 years old.
Muscle Cars: These are high-performance American cars that were manufactured primarily in the 1960s and 1970s.
Exotic Cars: These are high-end luxury cars that are rare, unique, or have a limited production run.
Hot Rods: These are customized cars that have been modified or restored for high-performance driving.
Antique Cars: These are cars that are at least 45 years old and have a historical or cultural significance.
Sports Cars: These are high-performance cars that are designed for speed and handling.

It's important to note that the specific types of cars covered by classic car insurance can vary depending on the insurance company and the policy.

Some insurers may have specific criteria for what qualifies as a classic car, such as a minimum value or a certain level of originality. It's important to shop around and compare policies to find the one that best fits your needs and covers your specific vehicle.

Cars Excluded for Classic Car Insurance

While classic car insurance policies are designed to cover a variety of collector's items, there are some types of cars that may be excluded from coverage.

The specific exclusions can vary depending on the insurance company and the policy, but here are some common examples of cars that may not be covered by classic car insurance:

Daily Drivers: Classic car insurance policies are designed to cover cars that are used primarily for pleasure driving and not as daily transportation. If you use your car as your primary mode of transportation, it may not qualify for classic car insurance.
Modified Cars: While hot rods and customized cars may qualify for classic car insurance, cars that have been extensively modified or altered may not be eligible for coverage.
Salvage or Rebuilt Cars: Cars that have been salvaged or rebuilt may not be eligible for classic car insurance, as they may not meet the original manufacturing specifications.
Race Cars: Cars that are used for racing or other high-speed competitions may not be covered by classic car insurance, as they pose a higher risk of accidents and damage.
Kit Cars: Kit cars, which are vehicles that are assembled from pre-fabricated parts, may not be eligible for classic car insurance, as they may not have the same historical or cultural significance as original manufacturer models.

It's important to read the terms and conditions of a classic car insurance policy carefully to understand the specific exclusions that apply.

If you have a car that doesn't qualify for classic car insurance, you may need to consider other types of coverage, such as standard car insurance or specialty insurance for modified vehicles.

What Does Classic Car Insurance Cover?

Classic car insurance is designed to provide coverage for vehicles that are considered collector's items, and the coverage can vary depending on the insurance company and the specific policy. Here are some common types of coverage that may be included in a classic car insurance policy:

Agreed Value Coverage: This type of coverage provides an agreed-upon value for your vehicle in the event of a total loss. This means that if your car is severely damaged or stolen, the insurance company will pay the agreed-upon value of the car, rather than the actual cash value (which may be lower).
Liability Coverage: Liability coverage is required by law in most states and provides protection if you cause an accident that results in injury or damage to another person or their property.
Comprehensive Coverage: Comprehensive coverage provides protection against non-collision damage to your vehicle, such as theft, vandalism, or damage from natural disasters.
Collision Coverage: Collision coverage provides protection against damage to your vehicle from a collision, whether with another car or an object like a tree or wall.
Uninsured/Underinsured Motorist Coverage: This type of coverage provides protection if you are in an accident with a driver who doesn't have insurance or doesn't have enough insurance to cover the damages.
Roadside Assistance: Some classic car insurance policies include roadside assistance, which can provide services like towing, battery jump-starts, and tire changes if your car breaks down.

It's important to read the terms and conditions of a classic car insurance policy carefully to understand the specific coverage that is included.

Additionally, some policies may offer optional coverage, such as coverage for spare parts, transport trailer coverage, or coverage for car shows and events.

Roadside Assistance Insurance for Classic Cars

Roadside assistance insurance can be a valuable addition to a classic car insurance policy, as it can provide peace of mind and protection if your vehicle breaks down or has other issues while you're on the road.

Here are some things to consider when looking for roadside assistance insurance for your classic car:

Coverage: Make sure to read the terms and conditions of the roadside assistance coverage carefully to understand what is covered. Some policies may provide only basic services like towing and battery jump-starts, while others may offer additional services like fuel delivery, lockout assistance, and tire changes.
Provider: Look for a reputable provider that has experience working with classic cars. Some classic car insurance companies may offer their own roadside assistance coverage, while others may partner with third-party providers.
Cost: The cost of roadside assistance coverage can vary depending on the provider and the specific coverage offered. Make sure to compare prices and coverage options from multiple providers to find the best value.
Availability: Make sure to check the availability of roadside assistance services in your area. Some providers may have limited coverage areas, while others may offer services nationwide.
Restrictions: Some roadside assistance policies may have restrictions on the age or type of vehicle that is covered, or may have limitations on the number of service calls allowed per year. Make sure to read the policy carefully and understand any restrictions that may apply.

Having roadside assistance coverage can provide peace of mind and help protect your classic car on the road. Make sure to do your research and compare options to find the best coverage for your needs.

The Conclusion

classic car insurance is a specialized type of insurance that is designed to provide protection for collector's items.

Classic car insurance policies can offer a range of coverage options, including agreed value coverage, liability coverage, comprehensive coverage, collision coverage, uninsured/underinsured motorist coverage, and roadside assistance.

When looking for classic car insurance, it's important to consider factors like the age and condition of the vehicle, the usage of the car, and any restrictions or exclusions that may apply.

By choosing the right coverage and provider, classic car owners can help protect their investment and enjoy their vehicle with peace of mind.