While you might assume that car insurance is car insurance, classic rides often require an alternative kind of auto policy. However, this coverage is necessary to protect your vehicle, especially when you’ve made a significant financial and emotional investment. The guide below explores their differences.

Designations for Insuring Classic Vehicles

Not all classic car insurance policies are the same. In fact, many insurance agencies make a distinction between antique, vintage, and classic vehicles. State laws vary but most antique cars are more than 45 years old and retain the original design and features. While there is an overlap between vintage and antique vehicles, vintage cars tend to be much older, with manufacture dates ranging from 1919 to 1930. Classic cars are those that are at least 20 years old, but no older than 40.

How Coverage Works

Unlike a standard auto insurance policy, classic cars are not insured based on actual cash value. Instead, your insurance agent will determine an amount based on a professional appraisal or current valuation guides since classic cars appreciate in value over time. This is in direct contrast to standard cars, which depreciate with the years.

How to Be Eligible

Owners must meet certain criteria for their vehicle to be covered by classic car insurance. For example, you will be subject to a mileage restriction, as driving the vehicle like a regular car exposes it to greater risk. Your driving record will also be reviewed, and you must show that you have the proper protections in place to keep the vehicle safe.

If you need protection for your classic ride, turn to Comaltex Insurance Agency in New Braunfels, TX. In operation since 1948, these providers can help you secure the right policy for your needs, while also setting coverage limits correctly. Their other products include life insurance, property coverage, standard auto coverage, and insurance for businesses. Learn more about implementing classic car insurance by visiting the website. Call (830) 625-7511 to speak with an agent today.