If you have a classic or collectible car, you want to protect your investment. That’s why implementing antique auto insurance is so essential. If it’s your first time insuring an older vehicle, the following information covers some of the basics. 

4 FAQ About Antique Auto Insurance

What makes a car antique?

The qualifications for antique cars vary quite a bit. In Maryland, historic cars must be at least 20 years old and must not be used for daily transportation. However, other classifications state that antique cars are those that are 50 years or older. Because there are so many variances, it’s best to speak with your insurance agent to determine whether your vehicle is considered an antique. 

How is this coverage type different from standard insurance? 

There’s some overlap between standard policies and those designed to protect antiques, but there are also marked differences. With a standard vehicle, depreciation plays a role in value if it’s a total loss. Conversely, antique insurance pays a guaranteed replacement cost, which is based on an appraisal of the vehicle. This is because your antique car will continue to grow in value the longer it’s in your possession. 

Do I still need insurance if I don’t drive the vehicle? 

Even if your vehicle never leaves your garage, you should still hold a comprehensive insurance policy. Insurance also covers theft, as well as damage caused by weather, fire, or vandalism. These issues can impact your vehicle, whether you drive it or keep it only for display. 

How can I qualify for insurance? 

If you have a spotty driving record, an insurance company may consider you too high-risk to insure your antique vehicle. You must also make sure your vehicle is secured properly in a sturdy location, such as a protected storage unit or within a locked garage. Lastly, you’ll need to abide by mileage restrictions. Failure to do so could void your policy. 

Finding the right insurance coverage for your prized possessions can be tough. For all your needs, turn to Crothers Insurance Agency in Cecil County, MD. As an independent agency with more than 85 years of experience under their belts, they enjoy strong working relationships with many different carries. As a result, they’ll work on your behalf to find the most affordable antique auto insurance policy available. They also provide many other services, including life insurance, farm insurance, and coverage suited to business owners. Schedule a consultation by calling (410) 658-5200 or contacting them online.