Classic Car Insurance Guide

Classic car insurance companies are devoted to providing insurance specifically for classic cars. Your car must meet specific guidelines to be considered a classic car, and they commonly include being at least 15 years old and being valuable. Being valuable entails either being expensive when originally bought or your car may be only one of few that were produced. Desirability plays a large role in what makes a classic a classic. Many of the muscle cars of the 1960’s hold nostalgic value due to their desirability. To receive classic car status the collectible car must often be an original. A restored car in excellent condition is a plus, but originality often trumps condition in the collector car market.

Some states offer collector car licensing and license plate status. Depending on your state of residence there may be other guidelines that need to be met. Most states have very similar rules but a few states have a few unique regulations you must meet to have your vehicle be considered classic. Classic car clubs also have their own set of rules and most clubs require that the car be a minimum of 25 years old.

Classic car insurance is important as a classic car has a value that will increase over time unlike other cars, which tend to depreciate over time. A classic car is an investment and classic car insurance is specifically designed for the majority of the problems associated with a classic car, namely theft, events and accidents. The cost of the insurance will depend on the mileage of the car, lower mileage equates to a greater value, and the condition of the car.

It is very easy to obtain an insurance quote online from major insurance companies as well as classic car insurance companies. As with any insurance policy you will have several options to choose from and can include car show expenses, roadside assistance, reimbursement of personal effects, lost keys, emergency towing and lockout assistance.

Theft is a large issue with classic cars and the insurance company will recommend specific precautions to avoid theft, such as parking the car in a covered area and always keeping the car locked. As classics car owners we all seem to be in the habit of leaving the keys in the ignition during storage. Even though we often store our cars in a locked garage this is one area we can decrease the chance of theft.

Depending on your classic car auto insurance policy you can also have coverage that includes taking steps to recover the car as some insurance companies will offer a reward for the recovery of the vehicle. In this instance the classic car is very valuable and the reward may be less expensive then having to pay out the claim for the car, think of the car like a piece of priceless artwork.

Classic car insurance is broken down into categories based on the mileage. Low mileage classic cars are considered to be very valuable and will have some of the highest rates. Classic cars that are driven only occasionally are considered collectors items and if your classic car is meant to be your main car and driven frequently then the insurance will reflect that difference as the chances of something happening are much greater. You may find classic auto insurance to be a good fit for your replica car. Many classic car insurers offer coverage for these vehicles as well. Automotive enthusiasts often purchase classic car insurance for their kit or replica cars, as it addresses the needs specific to these vehicles too.

Using free classic car insurance quote calculators online is a great way to get some starting information on classic car insurance companies. Once this is obtained you should request more detailed insurance information from the companies as they will modify the policy based on your classic car and your insurance history. You also may be eligible for insurance discounts.