Your classic car represents your commitment of time and money. Safeguard your investment with classic car insurance.
A step above your typical car insurance.
Your classic automobile holds significant value to you, which is why classic car insurance represents a distinct category with essential differences from standard auto insurance policies. Each classic vehicle possesses its own unique characteristics, making it crucial to obtain an insurance policy tailored to the specific requirements of your vehicle and your intended usage. As this is an investment, it is imperative to ensure its protection.
Get coverage for all types of classic cars.
To begin, we must address the terminology. Various insurance policies may be referred to as classic, collector, or antique car insurance. The specific criteria for qualification will vary by insurance provider; however, these policies typically encompass vehicles that not only meet a certain age requirement but also possess unique features, such as rarity. Below are the different categories of classic cars that can be insured under specialty insurance.
- Antique Cars (45+ Years Old)
- Classic Cars (20-40 Years Old)
- Exotic Cars (Rare Vehicles)
- Modern Collector Cars (Special Editions)
- Muscle Cars (Modified for Performance)
- Race Cars (Track Vehicles)
- Replica Cars (Self-Built Kits)
- Vintage Cars (Built Before 1925)
Payouts are based on an agreed-upon value.
The primary distinction between classic car insurance and standard auto insurance lies in the fact that the insurer typically establishes a predetermined value for the vehicle at the inception of the policy. In the event that the car is either destroyed or suffers damage that renders it economically irreparable, the compensation you receive will be based on the agreed value, rather than the current market cash value of your classic car at the time of the claim. This arrangement provides reassurance, ensuring that you will receive the specified amount without any unexpected variations.
Coverage for authentic parts is often guaranteed.
For a car collector, acquiring parts specifically designed for your vehicle is of utmost importance. This underscores the necessity of classic car insurance, which offers more comprehensive protection than standard auto insurance in terms of covering genuine parts. In the event of a collision, while the insurance provider may cover repair costs, a classic car insurance policy is likely to ensure payment for essential and authentic parts that could be omitted or fall outside the coverage limits of a conventional auto insurance policy.
Covers limited use cars, not daily drivers.
When contemplating whether to obtain classic car insurance, it is important to note that numerous policies are designed for limited usage. This may entail restrictions such as a specified low annual mileage or coverage that is exclusive to events like exhibitions and parades, rather than regular commuting. The extent to which you utilize your classic car, along with the specific policy selected, will determine if it meets your individual requirements. Do you possess a classic car? If that is the case, securing classic car insurance is essential to safeguard both your vehicle and your investment. Reach out to us to discuss the coverage options tailored to your automobile.