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Classic cars play an iconic role in American history and serve as a major source of enjoyment for many of today’s auto hobbyists and enthusiasts. If you’re lucky enough to own one of these beautiful vehicles, protecting it should be a top priority. Without adequate coverage, all of the time, effort, and money you’ve put into restoring and maintaining your classic car could be lost. This is why it’s essential to understand your car insurance options and how they differ from standard auto policies.

A Collector’s Guide to Classic Car Insurance 

What Qualifies as a Classic Car? 

Before you start shopping for insurance, you must determine whether your vehicle qualifies as a classic car. Though specific requirements can vary from one provider to the next, there are a few standards that must be met to purchase a specialized policy. These include: 

  • Age – Models must be at least 10 years old 
  • Limited use – Vehicles cannot be driven on a regular basis
  • Storage – Classic cars should be kept out of the elements and stored in an enclosed and secure structure
  • Condition – Vehicles must be in pristine condition with no exterior damage

Drivers must also maintain a relatively clean driving record with a maximum of one at-fault accident or traffic citation in the last three years and have a minimum of five years driving experience. 

Types of Coverage  

car insuranceGenerally, classic car insurance policies will work much like a traditional auto policy and provide liability coverage for another party’s injuries and property damage you are at fault for, physical damage caused to your own vehicle, medical payments for injuries you sustain, and uninsured/underinsured motorist coverage. The majority of classic car insurers will also offer add-on options such as roadside assistance, traveling coverage, auto show medical reimbursement, and spare parts coverage.

Why It’s Important to Have Appropriate Insurance for Your Classic Car

If you plan on driving your classic car at all, you are legally responsible for carrying liability coverage in the event you cause an accident. Additionally, a specialized policy will cover your vehicle for the agreed value replacement. This means your insurer will pay you a mutually agreeable amount should you experience a total loss. Coverage will also allow for original replacement parts. Regular auto policies pay the actual cash value of a car minus depreciation and typically use aftermarket parts for repairs. 

 

Insuring a classic car requires extra research and the guidance of a knowledgeable insurance agent. If you are looking for reliable and affordable coverage, reach out to David R Johnson Insurance Agency Inc. Over the last three decades, David R Johnson has established himself as the go-to source in Beech Grove, IN, for quality products and superior customer service. As a State Farm® representative, he has access to all types of car insurance policies and can help you make an educated decision on protecting your classic car. Call (317) 782-8858 to request a quote or visit him online for additional contact information. 

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